128,000 Jobs Could Be Lost By June

[Papageorgio]

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.]

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]

fear not the new Republicans in Congress will save the day !!!!

 

[DriftingSand]

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]

all the RW have been crying for dirt cheap oil ... here ya go, get ya some

 

[Mr. H.]

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.

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.

 

[RKMBrown]

all the RW have been crying for dirt cheap oil ... here ya go, get ya some

MOron.

 

[Mr. H.]

all the RW have been crying for dirt cheap oil ... here ya go, get ya some

You're a lying sack of shit who knows not of what you speak. Git some, Brotch.

 

[Siete]

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]

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]

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]

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.

You are a complete, MORON.

 

[BULLDOG]

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]

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.

 

[Papageorgio]

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]

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]

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]

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]

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]

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?