Texas braces for massive layoffs amid oil slump

RoshawnMarkwees

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And the increase in spending money for consumers as a result of lower energy costs will result in demand in consumer goods which will create more job opportunities for those laid off in the oil business. Win-win. Of course, if the hack-in-chief had not reimposed drilling restrictions upon entering office in the first place this would all have been moot and we would be seeing robust economic times.
Remove obama and revoke voting privileges of all registered democrats.
Then have all obama supporters pay reparations to everyone else.
 

Harry Dresden

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And the increase in spending money for consumers as a result of lower energy costs will result in demand in consumer goods which will create more job opportunities for those laid off in the oil business. Win-win. Of course, if the hack-in-chief had not reimposed drilling restrictions upon entering office in the first place this would all have been moot and we would be seeing robust economic times.
Remove obama and revoke voting privileges of all registered democrats.
Then have all obama supporters pay reparations to everyone else.
revoke voting privileges of all registered democrats.

lets do that for Republicans too....
 

HereWeGoAgain

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Fuck Y'all I'm From Texas!

RoshawnMarkwees

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eagle1462010

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It's not just in Texas as the oil companies are cutting everywhere not just in Texas. It is not that they aren't making profits, it's just that the lower prices have cut their profit margins................so the CEO's are trying to cut everywhere they can to maintain profit levels.......at the higher gas prices these margins were easier to maintain so they didn't cut the workers so much.

Prices now are actually where they should be BTW as they manipulate supply and demand for higher prices and the governments allow it. Oil prices are low due to increased production that is intended to break the Rubble for their deals with China and coming off the Petro dollar.

Just on a side note our contract bids are now being forced down to less than a 4% profit margin because of the gas prices. It is to a point were the profit margins are so low that our company is virtually not making a profit at all. Bids are VERY TIGHT and 2 companies have already folded were I work because they couldn't make a profit at the mandated rates to work there.

Not that they went completely under, but they were forced to leave after refusing to work at the lower rates in OR ELSE agreements...........We are currently in another OR ELSE negotiation to cut rates lower than 4% on profit margins...............It may force us to leave the place as well. We have jobs outside of this place and they are growing and making better profits as they are true competitive market bids instead of the mandates to stay in this refinery.

Perhaps I'll be working on these other jobs soon or working for someone else soon as a result.
 

eagle1462010

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The prices will go back to the old HIGH PRICES soon, they will slowly cut production until we are back at the high level prices due to manipulation of the supply of the product on a world scale.
 

Stephanie

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You get the feeling this was posted while tingles where running up someone's leg?
 

initforme

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Gas was less than $2 a gallon and that was what everyone wanted. Now low prices are not good? Just think about all the extra money that people were able to spend so on this what has Texas done wrong?
 

eagle1462010

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Gas was less than $2 a gallon and that was what everyone wanted. Now low prices are not good? Just think about all the extra money that people were able to spend so on this what has Texas done wrong?
I'm certainly not saying that even though I work in the field.............Prices via supply and demand are actually where they should be unless they manipulate the supply and demand of the product by cutting production...........

Competition lowers prices, and this is due to attack the competition on the Global Markets and pretty much directly attacking the rubble and coming off the Petro Dollar..............

As I stated, they are cutting to compensate to try and maintain profits that they had under higher prices...............which doesn't mean they are losing money. It means they are not making as much as they were before............

I almost laugh at work when someone buys the slogan they are losing money..............as they aren't..........They buy into the rhetoric of LOWER PROFITS is losing money..............The profits at the lower prices are what they should be...........even if this forces me out of the place into other industrial areas..............doesn't matter.............as the work is still the same if I'm forced to leave the company or work at another place..............

It's reality............and eventually their cuts will bite them in the ass as well as they cut to the bone trying to maintain corporate profit projections.....................eventually they will lower budgets to maintenance where they will allow degradation of the systems needed to keep the plant going.............causing potential catastrophic problems at a later day.............

I've seen those results personally, as I've been running my ass off away form the fire feeling the heat behind me from letting maintenance go to shit.............

It's a give and take world and the sword cuts both ways.
 

Freewill

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all these people being let go, what were their functions in the first place? Are they all in maintenance? Are they all well drillers? Who are these people that the company can just let go and not go out of business? Maybe I should have read the article. What I am thinking is that the lower prices might drive out some companies that speculated on high oil prices.

It seems to me that if you have a company that buys oil and refines it then this would be a boom time for you. Or at least profit margin should be maintained, unless it is all BS and we are being prepared for gasoline to go to 4 dollars.

Those who drill for oil maybe the ones getting hurt. Even if that is true it seems to me that we have the capacity now without drilling of more wells. So what drives the price?
 

HereWeGoAgain

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The problem we have in the states is the cost of getting it out of the ground.
The middle east can sell for 40 bucks a barrel and still make money. We cant.
And as in most industry the workers are the first to go when they hit hard times.
 

Freewill

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The problem we have in the states is the cost of getting it out of the ground.
The middle east can sell for 40 bucks a barrel and still make money. We cant.
And as in most industry the workers are the first to go when they hit hard times.
According to this site you are right for off shore oil. Off shore is about 51 dollars a barrel and on shore about 31 dollars per barrel with an average of 33 dollars per barrel. The ME is about 16.88 per barrel. How much does it cost to produce crude oil and natural gas - FAQ - U.S. Energy Information Administration EIA
 

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