128,000 Jobs Could Be Lost By June

128,000 by June? That means a quarter of a million by the end of the year. At least.

The hydrocarbon industries are extremely capital intensive and full of risk. The rapid and dramatic fall in oil prices has an effect on these businesses that is swift and drastic.

Keep in mind that the vast majority of oil and gas companies operating in the "Lower 48" (or is that "Lower 55"?) are Independents and not the multi-national concerns such as BP, etc.

For those companies that manage to survive, their operating expenses will remain constant while their revenues plunge. And they have no way in which to pass along expenses to consumers, such as a pizza chain does.

Drilling rigs are being stacked, workers are being laid off, and wells are being shut in as they are too expensive to keep pumping.

I've seen this shit time and time again in my 60 years in the business.
It has always been BOOM/BUST.

My kids have shares in wells that have been shut down at least three times in the last 40 years.

Every time the price goes up, or the technology allows them to go deeper to get the oil, the checks start flowing.
 
all the RW have been crying for dirt cheap oil ... here ya go, get ya some
We have threads on here thanking Obama for the oil prices.

One would think you are nothing but a partisan spoon fed tool.
Those threads 'thanking Obama' for the oil prices being low, were solely for the PURPOSE OF MOCKING the right wing posters that BLAMED the higher prices on him.....surely you could recognize this?

Obamagas is an awesome gas. Burns wingnuts and emits rainbows.

But the layoffs are part of the boom cycle. High prices led to more expensive exploration and new finds, new hires. More supply, lower prices, less exploration, layoffs. The newer more expensive finds will pan out much faster than older conventional fields and we'll likely see a rise in prices quickly as US production falls.
 
The forecasts are grim for the oil workers nationwide, if the price of a barrel doesn't rise to over $50 a barrel.

These aren't high corporate people, these are the hard working people that have moved to find work. These are the working middle class.

Of course we laugh and thank Obama, but now what do we do with 128,000 oil workers. North Dakota is saying 20,000 jobs are leaving. Sad, turn of events.

I like the low gas prices, however as with everything has a consequence.
Damn that Oblama, when is he going to do something?
Ayup 6years where's the beef?
With the beefcakes...
 
all the RW have been crying for dirt cheap oil ... here ya go, get ya some
We have threads on here thanking Obama for the oil prices.

One would think you are nothing but a partisan spoon fed tool.
Those threads 'thanking Obama' for the oil prices being low, were solely for the PURPOSE OF MOCKING the right wing posters that BLAMED the higher prices on him.....surely you could recognize this?

No shit Sherlock, and it was pretty stupid to credit Obama for cheap oil and it is pretty ridiculous for credit Republicans for cheap oil, isn't it?
 
Know what is really funny. The slack jawed mouth droolers are running out and buying big SUVs and trucks with payments more then their trailer houses since gas is down, not thinking in a year they will have to park in the their yard .
 
In the USA, they say we are forcing oil down via supply and demand and we are winning. But we can't win an oil price war. That's a fact.
 
The forecasts are grim for the oil workers nationwide, if the price of a barrel doesn't rise to over $50 a barrel.

These aren't high corporate people, these are the hard working people that have moved to find work. These are the working middle class.

Of course we laugh and thank Obama, but now what do we do with 128,000 oil workers. North Dakota is saying 20,000 jobs are leaving. Sad, turn of events.

I like the low gas prices, however as with everything has a consequence.
I know a lot of young oilfield workers used to making $10,000 a month and spending $15,000 a month.

Do you think any listened when we tried to tell them to save?
120k a year to work on an oil field? wow
 
Gas prices being half what they were a few months ago is like a HUGE tax break to job creators who consume a lot of fuel.
 
Know what is really funny. The slack jawed mouth droolers are running out and buying big SUVs and trucks with payments more then their trailer houses since gas is down, not thinking in a year they will have to park in the their yard .

Have you been in Seattle or San Francisco? Tons of liberal slack jawed mouths droolers own SUVs and trucks with payments. Liberals love their SUVs,

I am a wise, tolerant conservative that loves to drive my Volt, knowing that liberal slack jawed mouth droolers helped subsidize my choice in vehicles.
 
Cheap oil is bad for oil employees, but it is great for so many other employees. The hypocrites in the modern day "conservative" camp don't like to deal in whole truths.
 
Know what is really funny. The slack jawed mouth droolers are running out and buying big SUVs and trucks with payments more then their trailer houses since gas is down, not thinking in a year they will have to park in the their yard .

Have you been in Seattle or San Francisco? Tons of liberal slack jawed mouths droolers own SUVs and trucks with payments. Liberals love their SUVs,

I am a wise, tolerant conservative that loves to drive my Volt, knowing that liberal slack jawed mouth droolers helped subsidize my choice in vehicles.

I live in the SF Bay Area, Hybrids are as common as SUV's, and more so during commute hours. We own a Honda Odyssey and a Toyota Prius. The former for long trips, the latter for day in and day out get around and has never been below 48 MPG.
 

New Topics

Forum List

Back
Top