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Extreme Veteran
Posts: 464
 
| I'm old school economics. Reagonomics if you will. I believe if we were all doing good, we'd all be doing better. I spent $2000 less in fuel in December 2014 compared to December 2013. That's money that goes back in my operation. The way we import everything, and only export jobs has our country in a topsy turvey state. This oil bust didn't have to be driven by OPEC. We let it. They drove the price up, it drove us on the hunt. They drove the price down, it put workers on unemployment. I don't know why I worry about it. We'll be a suburb of Mexico in a few years anyway at the rate were going. |
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  Semper Fi
  
Location: North Texas | Bigfoot - 2015-01-26 1:41 PM I'm old school economics. Reagonomics if you will. I believe if we were all doing good, we'd all be doing better. I spent $2000 less in fuel in December 2014 compared to December 2013. That's money that goes back in my operation. The way we import everything, and only export jobs has our country in a topsy turvey state. This oil bust didn't have to be driven by OPEC. We let it. They drove the price up, it drove us on the hunt. They drove the price down, it put workers on unemployment. I don't know why I worry about it. We'll be a suburb of Mexico in a few years anyway at the rate were going.
I must say, Your line of reasoning does have an 'appeal'. |
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 Expert
Posts: 1718
Location: Southeast Louisiana | What role does our own government's "green" agenda play in all of this? It seems like, for years now, policies have been driving us toward less dependency on oil and gas. And not just at the gas pump. There was cash for clunkers which took millions of perfectly good (albeit not very fuel efficient) vehicles and trashed them as an incentive to buy hybrids and electric cars; the push for more solar usage at home (and I can't remember what else because I just woke up). But, it seems like our own government laid the ground work for this disaster in one of America's biggest industries. |
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 Jr. Detective
Location: Beggs, OK | NJJ - 2015-01-26 1:09 PM rachellyn80 - 2015-01-26 12:55 PM NJJ - 2015-01-26 12:23 PM I just have an honest question......how did all of the people in the "oil field" industry survive when gas and diesel (both) were below $2/gallon ???? It's not the price of fuel that you look at. It's the price of NG and the price of Oil.
The area I grew up in was primarily dry gas, not oil. When natural gas was high drilling in our area was booming. It all fluctuates and is susceptible to inflation. How many years ago was that? I honestly don't remember. It's been extremely volatile since 9/11. Typically you're looking at a 5/6 year cycle. Things will pick back up in the next 6 months and then hit another boom....then start sliding back down. It's the hard crashes that hurt the working people of the industry the most.
I would love to see a report outlining the industries that have followed suit.... Fuel prices may come down for a bit, but I bet you don't see the price of anything else fall much....and most definitely not in proportion.
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Expert
Posts: 1718
Location: Southeast Louisiana | I think the prices of goods and services will lower eventually only IF fuel prices stay low for a prolonged period of time. Right now, businesses are enjoying the profits. It costs less to transport the goods and the companies are making more money off of their goods. If the fuel prices stay low, natural competition will bring the prices down. Some companies will offer goods and services for less because they can draw the consumers toward their businesses and still make a profit. Other businesses will have to lower prices some to compete.
e.t.a.: I forget the term for it, but it's a leveling or sort of a "reset" that the economy goes through from time to time. Like some stated, it's the ups and downs of the oil and gas industry. It's just sad that the most pain will be felt by the hard working Americans that are affected most through the loss of jobs and wages.
Edited by Nita 2015-01-26 4:30 PM
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Elite Veteran
Posts: 1029
Location: TX | I've seen many people many great money in the oilfield industry and I'm very happy for them, I think (maybe wrong), but they are independent contractors and in my opinion they should be putting money back for the ups and downs of the industry and their future. I see so many that have made great money and they are spending as fast as its coming in. My husband and I work hard for our money, we are planning for the future and stashing money back, I look forward to not having to work for my golden years.
So many people suffered when gas was almost $4/gallon, I often wondered how low income and teenagers were able to fill their vehicles up to get to school or work. |
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 Extreme Veteran
Posts: 356
| This thread has been quiet for a few days, but I just ran across this article and thought it was very relevant to the discussion going on: http://fortune.com/2015/01/30/oil-prices-waste-exxon-chevron/ |
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Semper Fi
Location: North Texas | k.maddocks24 - 2015-01-30 3:46 PM This thread has been quiet for a few days, but I just ran across this article and thought it was very relevant to the discussion going on: http://fortune.com/2015/01/30/oil-prices-waste-exxon-chevron/[/quot...
I just read the attached article. "Hit Piece" is what I would classify this aggressively written Op-Ed as....................The Author is NOT an Oil & Gas Industry fan. |
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 Texas Tenderheart
Posts: 6715
Location: Red Raiderland | foundation horse - 2015-01-30 9:43 PM k.maddocks24 - 2015-01-30 3:46 PM This thread has been quiet for a few days, but I just ran across this article and thought it was very relevant to the discussion going on: http://fortune.com/2015/01/30/oil-prices-waste-exxon-chevron/[/quot... I just read the attached article. "Hit Piece" is what I would classify this aggressively written Op-Ed as....................The Author is NOT an Oil & Gas Industry fan. I agree FH. The author strikes me as someone that would praise Apple or Google like they are the second coming. God forbid big oil spends money but the tech giants can do no wrong, ever! Although he did bring up valid points, they were lost on his complete negative sour attitude. I did like the interview that Neil Cavuto did with T. Boone Pickens which was a video available with the original article. Edited by Kaycee 2015-01-30 10:04 PM
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The Advice Guru
Posts: 6419
| k.maddocks24 - 2015-01-30 3:46 PM
This thread has been quiet for a few days, but I just ran across this article and thought it was very relevant to the discussion going on: http://fortune.com/2015/01/30/oil-prices-waste-exxon-chevron/[/quot...
I read the article, and from my experience the article is poorly researched and written.
He did not identify why the costs of producing oil have increased.
10 yrs ago most of the drilling rigs were drilling straight down, today most are directional drilling, this means more tools, and more staff.
Straight down drilling didn't need cementing, directional does, generally three times, this means a company needs to come in 3 times to cement.
This is all I can think of off the top of my head |
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 Expert
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Location: Texas | getacheck - 2015-01-26 8:07 PM
I've seen many people many great money in the oilfield industry and I'm very happy for them, I think (maybe wrong), but they are independent contractors and in my opinion they should be putting money back for the ups and downs of the industry and their future. I see so many that have made great money and they are spending as fast as its coming in. My husband and I work hard for our money, we are planning for the future and stashing money back, I look forward to not having to work for my golden years.
So many people suffered when gas was almost $4/gallon, I often wondered how low income and teenagers were able to fill their vehicles up to get to school or work.
Most people who work in oil patch are NOT independent contractors. Most as hard working people who work directly for the company. As far as suggesting that oilfield workers don't work hard for their money is absolutely absurd. Yes my husband makes good money but her also works 80 to 100 hours per week and usually 2 weeks at at time. Sometimes he would work 24 to 48 hours straight if needed so I would not consider that easy money. Most of these men work away from their homes and family for weeks at a time to provide for their families so their wives can stay home with thir kids and if they get laid off that is their entire income. Yes some have squandered their $$ away but that is not the majority of people. No one is saying that they want $4 gallon diesel but if so may people lose their jobs due to lay offs and can't find other gainful employment they will depend on the government for support and they will lose houses and vehicle etc which will then make lending and other things more difficult for the average person. I have to admit i to am liking the lover cost of fuel but am extremely worried for the welfare and being of so many people who will lose jobs. I feel like your commernts are extremely insensitive and based on a lack of knowledge of the oilfield industry |
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 Fact Checker
Posts: 16575
Location: Displaced Iowegian | barrelbasher - 2015-01-31 10:27 AM getacheck - 2015-01-26 8:07 PM I've seen many people many great money in the oilfield industry and I'm very happy for them, I think (maybe wrong), but they are independent contractors and in my opinion they should be putting money back for the ups and downs of the industry and their future. I see so many that have made great money and they are spending as fast as its coming in. My husband and I work hard for our money, we are planning for the future and stashing money back, I look forward to not having to work for my golden years. So many people suffered when gas was almost $4/gallon, I often wondered how low income and teenagers were able to fill their vehicles up to get to school or work. Most people who work in oil patch are NOT independent contractors. Most as hard working people who work directly for the company. As far as suggesting that oilfield workers don't work hard for their money is absolutely absurd. Yes my husband makes good money but her also works 80 to 100 hours per week and usually 2 weeks at at time. Sometimes he would work 24 to 48 hours straight if needed so I would not consider that easy money. Most of these men work away from their homes and family for weeks at a time to provide for their families so their wives can stay home with thir kids and if they get laid off that is their entire income. Yes some have squandered their $$ away but that is not the majority of people. No one is saying that they want $4 gallon diesel but if so may people lose their jobs due to lay offs and can't find other gainful employment they will depend on the government for support and they will lose houses and vehicle etc which will then make lending and other things more difficult for the average person. I have to admit i to am liking the lover cost of fuel but am extremely worried for the welfare and being of so many people who will lose jobs. I feel like your commernts are extremely insensitive and based on a lack of knowledge of the oilfield industry
Did you feel the same way over the last few years when hundreds of thousands were laid off or businesses went "belly up" due to high energy, transportation and raw material costs that skyrocketed due to $100/barrel oil? |
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 Banjo and Baby
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Location: South of Canada and North of Mexico | barrelbasher - 2015-01-31 10:27 AM getacheck - 2015-01-26 8:07 PM I've seen many people many great money in the oilfield industry and I'm very happy for them, I think (maybe wrong), but they are independent contractors and in my opinion they should be putting money back for the ups and downs of the industry and their future. I see so many that have made great money and they are spending as fast as its coming in. My husband and I work hard for our money, we are planning for the future and stashing money back, I look forward to not having to work for my golden years. So many people suffered when gas was almost $4/gallon, I often wondered how low income and teenagers were able to fill their vehicles up to get to school or work. Most people who work in oil patch are NOT independent contractors. Most as hard working people who work directly for the company. As far as suggesting that oilfield workers don't work hard for their money is absolutely absurd. Yes my husband makes good money but her also works 80 to 100 hours per week and usually 2 weeks at at time. Sometimes he would work 24 to 48 hours straight if needed so I would not consider that easy money. Most of these men work away from their homes and family for weeks at a time to provide for their families so their wives can stay home with thir kids and if they get laid off that is their entire income. Yes some have squandered their $$ away but that is not the majority of people. No one is saying that they want $4 gallon diesel but if so may people lose their jobs due to lay offs and can't find other gainful employment they will depend on the government for support and they will lose houses and vehicle etc which will then make lending and other things more difficult for the average person. I have to admit i to am liking the lover cost of fuel but am extremely worried for the welfare and being of so many people who will lose jobs. I feel like your commernts are extremely insensitive and based on a lack of knowledge of the oilfield industry
My husband works pipeline and has been in California for one year this next month. He works hard for his money as well and until this Cali job he was working 80-90 hrs most weeks. Its hard to be away from him for so long, but 10 years of doing this Im used to it now. |
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The Advice Guru
Posts: 6419
| NJJ - 2015-01-31 11:53 AM
barrelbasher - 2015-01-31 10:27 AM getacheck - 2015-01-26 8:07 PM I've seen many people many great money in the oilfield industry and I'm very happy for them, I think (maybe wrong), but they are independent contractors and in my opinion they should be putting money back for the ups and downs of the industry and their future. I see so many that have made great money and they are spending as fast as its coming in. My husband and I work hard for our money, we are planning for the future and stashing money back, I look forward to not having to work for my golden years. So many people suffered when gas was almost $4/gallon, I often wondered how low income and teenagers were able to fill their vehicles up to get to school or work. Most people who work in oil patch are NOT independent contractors. Most as hard working people who work directly for the company. As far as suggesting that oilfield workers don't work hard for their money is absolutely absurd. Yes my husband makes good money but her also works 80 to 100 hours per week and usually 2 weeks at at time. Sometimes he would work 24 to 48 hours straight if needed so I would not consider that easy money. Most of these men work away from their homes and family for weeks at a time to provide for their families so their wives can stay home with thir kids and if they get laid off that is their entire income. Yes some have squandered their $$ away but that is not the majority of people. No one is saying that they want $4 gallon diesel but if so may people lose their jobs due to lay offs and can't find other gainful employment they will depend on the government for support and they will lose houses and vehicle etc which will then make lending and other things more difficult for the average person. I have to admit i to am liking the lover cost of fuel but am extremely worried for the welfare and being of so many people who will lose jobs. I feel like your commernts are extremely insensitive and based on a lack of knowledge of the oilfield industry
No I didn't as there was an excess of jobs available in other companies, yes mostly tied to oilfield.
I am worried now as governments depend on oil revenues and it is said thst OPEC will let the oil drop to 20/barrel to make the smaller companies to go belly up. If this occurs, there will be minimal exports, minimal income coming in, more debt, more unemployment, and the government will not sustain their budget go into debt even more, and this will be a hole USA will not be able to get out of as USA already has a high debt and deficit.
If OPEC allows prices to fall to 20/barrel we are all in trouble
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Expert
Posts: 1561
| HAHHHAAA!!!!
Now America NEEDS high fuel prices! 
Now I understand why we keep electing the same morons over and over. |
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Expert
Posts: 1440
Location: Texas | NJJ - 2015-01-31 11:53 AM
barrelbasher - 2015-01-31 10:27 AM getacheck - 2015-01-26 8:07 PM I've seen many people many great money in the oilfield industry and I'm very happy for them, I think (maybe wrong), but they are independent contractors and in my opinion they should be putting money back for the ups and downs of the industry and their future. I see so many that have made great money and they are spending as fast as its coming in. My husband and I work hard for our money, we are planning for the future and stashing money back, I look forward to not having to work for my golden years. So many people suffered when gas was almost $4/gallon, I often wondered how low income and teenagers were able to fill their vehicles up to get to school or work. Most people who work in oil patch are NOT independent contractors. Most as hard working people who work directly for the company. As far as suggesting that oilfield workers don't work hard for their money is absolutely absurd. Yes my husband makes good money but her also works 80 to 100 hours per week and usually 2 weeks at at time. Sometimes he would work 24 to 48 hours straight if needed so I would not consider that easy money. Most of these men work away from their homes and family for weeks at a time to provide for their families so their wives can stay home with thir kids and if they get laid off that is their entire income. Yes some have squandered their $$ away but that is not the majority of people. No one is saying that they want $4 gallon diesel but if so may people lose their jobs due to lay offs and can't find other gainful employment they will depend on the government for support and they will lose houses and vehicle etc which will then make lending and other things more difficult for the average person. I have to admit i to am liking the lover cost of fuel but am extremely worried for the welfare and being of so many people who will lose jobs. I feel like your commernts are extremely insensitive and based on a lack of knowledge of the oilfield industry
Actually yes I did.... I feel for any industry that has layoffs. Just like I worried about my industry of medical capital equipment sales and the down turn that was created with the scare of over Obamacare and hospitals holding onto all of their $$ because they were so afraid of what was going to happen. For one of the few times ever I saw hospitals actually lay off people to make more wiggle room. I hate seeing lay offs in mass in any industry. I am not saying that we NEED high fuel prices, but the Saudis are cutting our throats as well as the Russians. Anyone who doesn't think this will have larger global implications is just naive |
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Semper Fi
Location: North Texas | cheryl makofka - 2015-01-31 12:48 PM NJJ - 2015-01-31 11:53 AM barrelbasher - 2015-01-31 10:27 AM getacheck - 2015-01-26 8:07 PM I've seen many people many great money in the oilfield industry and I'm very happy for them, I think (maybe wrong), but they are independent contractors and in my opinion they should be putting money back for the ups and downs of the industry and their future. I see so many that have made great money and they are spending as fast as its coming in. My husband and I work hard for our money, we are planning for the future and stashing money back, I look forward to not having to work for my golden years. So many people suffered when gas was almost $4/gallon, I often wondered how low income and teenagers were able to fill their vehicles up to get to school or work. Most people who work in oil patch are NOT independent contractors. Most as hard working people who work directly for the company. As far as suggesting that oilfield workers don't work hard for their money is absolutely absurd. Yes my husband makes good money but her also works 80 to 100 hours per week and usually 2 weeks at at time. Sometimes he would work 24 to 48 hours straight if needed so I would not consider that easy money. Most of these men work away from their homes and family for weeks at a time to provide for their families so their wives can stay home with thir kids and if they get laid off that is their entire income. Yes some have squandered their $$ away but that is not the majority of people. No one is saying that they want $4 gallon diesel but if so may people lose their jobs due to lay offs and can't find other gainful employment they will depend on the government for support and they will lose houses and vehicle etc which will then make lending and other things more difficult for the average person. I have to admit i to am liking the lover cost of fuel but am extremely worried for the welfare and being of so many people who will lose jobs. I feel like your commernts are extremely insensitive and based on a lack of knowledge of the oilfield industry No I didn't as there was an excess of jobs available in other companies, yes mostly tied to oilfield. I am worried now as governments depend on oil revenues and it is said thst OPEC will let the oil drop to 20/barrel to make the smaller companies to go belly up. If this occurs, there will be minimal exports, minimal income coming in, more debt, more unemployment, and the government will not sustain their budget go into debt even more, and this will be a hole USA will not be able to get out of as USA already has a high debt and deficit. If OPEC allows prices to fall to 20/barrel we are all in trouble
The major difference this time around is the Oil Producers are much much better shape. Paid for equipment, leases on option. Just labor to worry about....................The Oil Producers WILL ride this One out and come back stronger!
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 Chasin my Dream
Posts: 13651
Location: Alberta | getacheck - 2015-01-26 7:07 PM I've seen many people many great money in the oilfield industry and I'm very happy for them, I think (maybe wrong), but they are independent contractors and in my opinion they should be putting money back for the ups and downs of the industry and their future. I see so many that have made great money and they are spending as fast as its coming in. My husband and I work hard for our money, we are planning for the future and stashing money back, I look forward to not having to work for my golden years. So many people suffered when gas was almost $4/gallon, I often wondered how low income and teenagers were able to fill their vehicles up to get to school or work.
As mentioned oilfield is contractors and employees, oilfield people sacrifice a lot to make the good money (if you've never lived it you'd never even grasp it all) AND WORK HARD TOO. Yes some spend it and don't save others try their best to save and some are catching up from the last drop in oil. Contractors don't have the luxury of employee benefits or most times even being provided paid supplies...business cost money regardless of the industry they are in....regardless of the price of oil a job in the oilfield is never a guaranteed thing...
Edited by dream_chaser 2015-01-31 10:16 PM
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 Nicknameless
Posts: 4565
Location: I can see the end of the world from here! | Itsme - 2015-01-31 12:00 PM HAHHHAAA!!!! Now America NEEDS high fuel prices! Now I understand why we keep electing the same morons over and over.
To cover the cost of producing it (taxes, EPA...now the staes raising the fuel taxes cuz they squandered the monies that should have been put aside for roads & bridges). Yeah, it'll go up. Hang on to your britches and/or keep the vaseline handy... |
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Nicknameless
Posts: 4565
Location: I can see the end of the world from here! | I recall when oil was down to $8 a barrel...in the early 90's...we own a small oil field (very small!) and all I can say is when oil went up it was sure nice to finally be able to afford the maintenance & upgrades that were much needed & had been put on the back burner for so long...thankfully we don't have all our eggs in one basket. The costs associated with the oil & gas industry is astonomical & utter nonsense. People sure do like the convenience of driving up to a pump that offers the opportunity to express their paid privilege to travel, though.
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