What's new
US Message Board - Political Discussion Forum

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

128,000 Jobs Could Be Lost By June

Papageorgio

The Ultimate Winner
Joined
May 18, 2010
Messages
51,164
Reaction score
11,484
Points
2,070
Location
PNW
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.
 

Mr. H.

Diamond Member
Joined
Aug 19, 2009
Messages
44,171
Reaction score
9,813
Points
2,030
Location
A warm place with no memory.
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.
 

Siete

Platinum Member
Joined
May 19, 2014
Messages
34,325
Reaction score
3,977
Points
1,130
fear not the new Republicans in Congress will save the day !!!!
 

DriftingSand

Cast Iron Member
Joined
Feb 16, 2014
Messages
10,193
Reaction score
2,212
Points
255
Location
State of Disgust!
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'm seeing good workers losing jobs and income daily as a result of this manipulated, economic attack on the American economy. What will happen is this: many small companies who've been able to capitalize on energy independence will go belly up then the big boys (Shell, BP, Exxon-Mobil, etc) will take over and take the cake. Americans will lose and the Globalists will win.
 

Siete

Platinum Member
Joined
May 19, 2014
Messages
34,325
Reaction score
3,977
Points
1,130
all the RW have been crying for dirt cheap oil ... here ya go, get ya some
 

Mr. H.

Diamond Member
Joined
Aug 19, 2009
Messages
44,171
Reaction score
9,813
Points
2,030
Location
A warm place with no memory.
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'm seeing good workers losing jobs and income daily as a result of this manipulated, economic attack on the American economy. What will happen is this: many small companies who've been able to capitalize on energy independence will go belly up then the big boys (Shell, BP, Exxon-Mobil, etc) will take over and take the cake. Americans will lose and the Globalists will win.
Hardly a "manipulated economic attack on America". Gather yourself, Brotch. :slap:

The "big boys" may see M&A opportunities in this, but it will be in the much larger shale plays. They can't bother themselves with portfolios with meager reserves.

Keep in mind that 80% of all wells in the U.S. are "marginal" - producing 10 barrels per day or less. Marginal natural gas wells produce a proportionately small amount also. And these wells are owned and operated by small companies. These are the folks that are hardest hit today.
 

Siete

Platinum Member
Joined
May 19, 2014
Messages
34,325
Reaction score
3,977
Points
1,130
all the RW have been crying for dirt cheap oil ... here ya go, get ya some
MOron.


drill baby brill
open ANWR
Complete Keystone

lets get this damn oil down to FREE..

changing your tiny little mind? Or do you agree with Obama when he said he wanted higher gas prices ...

you git u sum Hboy.
 

gallantwarrior

Gold Member
Joined
Jul 25, 2011
Messages
25,738
Reaction score
7,583
Points
280
Location
On my own 200 acres of the Frozen North
It's interesting to see how things are developing in the face of cheaper oil. In Alaska, the government is finally facing the fact that they cannot simply go on spending like there is no tomorrow. Our new governor has put the kibosh on several "infrastructure" projects, as well as other expenditures. Perhaps they will learn that the strings attached to federal monies are too expensive to allow them to continue to suck off that government tit. We have to make ourselves independent of federal subsidies and govern within our means. That chicken is coming home to roost here, where we are so very dependent on both big oil and federal subsidies.
 

gallantwarrior

Gold Member
Joined
Jul 25, 2011
Messages
25,738
Reaction score
7,583
Points
280
Location
On my own 200 acres of the Frozen North
all the RW have been crying for dirt cheap oil ... here ya go, get ya some
MOron.


drill baby brill
open ANWR
Complete Keystone

lets get this damn oil down to FREE..

changing you tiny little mind? Or do you agree with Obama when he said he wanted higher gas prices ...
I'd love to see them open ANWR. Rumor is, our king and ruler, George Obama, has declared that he will unilaterally shut ANWR down.
 

RKMBrown

Gold Member
Joined
May 14, 2013
Messages
17,506
Reaction score
1,597
Points
205

BULLDOG

Diamond Member
Joined
Jun 3, 2014
Messages
75,505
Reaction score
16,230
Points
2,180
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'm seeing good workers losing jobs and income daily as a result of this manipulated, economic attack on the American economy. What will happen is this: many small companies who've been able to capitalize on energy independence will go belly up then the big boys (Shell, BP, Exxon-Mobil, etc) will take over and take the cake. Americans will lose and the Globalists will win.
Of course they will. Don't you think the oil companies have analysts who told them long ago that a huge increase in drilling, which we have had, would glut the market driving the price down. Lower oil prices mean small companies will fold leaving their assets available for pennies on the dollar. Once the bargain basement sale is over, they will cut back on production and raise the price back up. All the newly drilled oil will not go away. It will just be saved in reserve.
 

BULLDOG

Diamond Member
Joined
Jun 3, 2014
Messages
75,505
Reaction score
16,230
Points
2,180
all the RW have been crying for dirt cheap oil ... here ya go, get ya some
MOron.


drill baby brill
open ANWR
Complete Keystone

lets get this damn oil down to FREE..

changing you tiny little mind? Or do you agree with Obama when he said he wanted higher gas prices ...
I'd love to see them open ANWR. Rumor is, our king and ruler, George Obama, has declared that he will unilaterally shut ANWR down.
We already have a glut of oil now dumbass. Why should we open up more fields when we have too many now, and the price can't drop more than a few more cents anyway.
 
OP
Papageorgio

Papageorgio

The Ultimate Winner
Joined
May 18, 2010
Messages
51,164
Reaction score
11,484
Points
2,070
Location
PNW
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.
 

NYcarbineer

Diamond Member
Joined
Mar 10, 2009
Messages
117,063
Reaction score
13,865
Points
2,210
Location
Finger Lakes, NY
all the RW have been crying for dirt cheap oil ... here ya go, get ya some

I was roundly ridiculed by the RWnuts for more than once pointing out that their visions of a dirt cheap gas utopia via drill baby drill could not work,

because of the cost per barrel of domestic production.

I guess they're catching on now.
 

Care4all

Warrior Princess
Joined
Mar 24, 2007
Messages
60,070
Reaction score
18,019
Points
2,220
Location
Maine
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?
 

NYcarbineer

Diamond Member
Joined
Mar 10, 2009
Messages
117,063
Reaction score
13,865
Points
2,210
Location
Finger Lakes, NY
Around 1986, you had gasoline down to about 80 cents a gallon;

you also had a depression in the so-called oil patch - Texas, Oklahoma, etc., -
 

NYcarbineer

Diamond Member
Joined
Mar 10, 2009
Messages
117,063
Reaction score
13,865
Points
2,210
Location
Finger Lakes, NY
And don't forget that the conservatives tried to take credit for the boom in the oil states like the Dakotas, as if they had something to do with it.
 

OnePercenter

Gold Member
Joined
Apr 10, 2013
Messages
23,662
Reaction score
1,857
Points
265
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.

At $50.00bbl oil producers are making a $40.00bbl profit. Why the layoffs?
 

USMB Server Goals

Total amount
$166.00
Goal
$350.00

Most reactions - Past 7 days

Forum List

Top