Texas braces for massive layoffs amid oil slump

[HereWeGoAgain]

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

Those numbers dont include fracking and tar sands,which is where our boom came from.
That cost a whole lot more.

 

[Freewill]

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

Those numbers dont include fracking and tar sands,which is where our boom came from.
That cost a whole lot more.

Facts man, post the facts.

Why America's fracking revolution won't be hurt (much) by low oil prices

With oil prices dropping, IHS estimates the growth in U.S. tight oil production will slow next year to 700,000 barrels a day, down from million a day in 2014. (That estimate is based on a $77 a barrel. If oil goes to $60 next year that 700,000 projection will be cut in half to 350,000.) Even so, the U.S. will still be adding a significant amount of new oil to a global market where demand is weakening. That makes any price spike— short of a blow-up in the Middle East or OPEC suddenly getting its act together—unlikely.

The fracking boom is maturing, but it’s not likely to go away any time soon.

 

[Iceweasel]

Just hope they don't come begging to the federal government

Nah, they'll probably just move to California since it's full of jobs opportunity and operates at such a surplus.

 

[airplanemechanic]

A lot of good info in this thread. I live in an oil town. I live in an oil state. There is so much misinformation out there.

Anyone who loses their job due to artificially high oil prices had an artificial job anyway. That's my opinion.

 

[Roadrunner]

It's estimated Texas could lose 140,000 direct and indirect energy jobs by midyear.


Texas braces for massive layoffs amid oil slump - CBS News

Boom and bust, the ways of the oil biz.

Just hope they don't come begging to the federal government

How about all the jobless in the rest of the country?

The jobless need to pack up and move to where there are jobs, or, take a job from an illegal.

 

[HereWeGoAgain]

A lot of good info in this thread. I live in an oil town. I live in an oil state. There is so much misinformation out there.

Anyone who loses their job due to artificially high oil prices had an artificial job anyway. That's my opinion.

Just like any other job. Make hay when the sun shines.

 

[Roadrunner]

It's estimated Texas could lose 140,000 direct and indirect energy jobs by midyear.


Texas braces for massive layoffs amid oil slump - CBS News

One has to wonder with the lower gasoline prices at the pump why there isn't a much HIGHER DEMAND for OIL/gasoline...hence more jobs?

Been too cold for anyone to want to go anywhere.

Let even halfway decent gas prices extend into Summer, and people are going to burn up the roads!!!

 

[HereWeGoAgain]

It's estimated Texas could lose 140,000 direct and indirect energy jobs by midyear.


Texas braces for massive layoffs amid oil slump - CBS News

One has to wonder with the lower gasoline prices at the pump why there isn't a much HIGHER DEMAND for OIL/gasoline...hence more jobs?

Been too cold for anyone to want to go anywhere.

Let even halfway decent gas prices extend into Summer, and people are going to burn up the roads!!!

They're starting to make the summer mix gas which is more expensive so you can expect increases soon.
At least thats what they claim anyway.

 

[Roadrunner]

It's estimated Texas could lose 140,000 direct and indirect energy jobs by midyear.


Texas braces for massive layoffs amid oil slump - CBS News

One has to wonder with the lower gasoline prices at the pump why there isn't a much HIGHER DEMAND for OIL/gasoline...hence more jobs?

Been too cold for anyone to want to go anywhere.

Let even halfway decent gas prices extend into Summer, and people are going to burn up the roads!!!

They're starting to make the summer mix gas which is more expensive so you can expect increases soon.
At least thats what they claim anyway.

Hey, I can get gas anytime I want, as much as I want.

I have a credit card to put it on, and enough income to pay it off each month.

February is over.

How can anybody bitch in this fine country!!!!

Unless they bitch about the bitchers that is.

I call them the Professional Bitching Class.

They are never unemployed.

 

[Mr. H.]

Amid this downturn still lurks Obama's budget, which contains over $40 billion in new taxes on the oil and gas industries. He can't wait to drive the nails deeper into the coffin of the very businesses that turned our energy future around in a matter of years. that bastard

 

[HereWeGoAgain]

It's estimated Texas could lose 140,000 direct and indirect energy jobs by midyear.


Texas braces for massive layoffs amid oil slump - CBS News

One has to wonder with the lower gasoline prices at the pump why there isn't a much HIGHER DEMAND for OIL/gasoline...hence more jobs?

Been too cold for anyone to want to go anywhere.

Let even halfway decent gas prices extend into Summer, and people are going to burn up the roads!!!

They're starting to make the summer mix gas which is more expensive so you can expect increases soon.
At least thats what they claim anyway.

Hey, I can get gas anytime I want, as much as I want.

I have a credit card to put it on, and enough income to pay it off each month.

February is over.

How can anybody bitch in this fine country!!!!

Unless they bitch about the bitchers that is.

I call them the Professional Bitching Class.

They are never unemployed.

As a conservative I like high gas prices.....it really sticks it to the poor.
Well actually I make more money with high gas prices,but I figured I'd give a progressive something to cry about.

 

[SassyIrishLass]

Oil futures are on the rise, your cheap gas will soon be over

 

[Roadrunner]

Oil futures are on the rise, your cheap gas will soon be over

But my mutual fund will be up, and my kids' royalties will be too.

I can afford $6 a gallon on those terms.

 

[HereWeGoAgain]

Oil futures are on the rise, your cheap gas will soon be over

But my mutual fund will be up, and my kids' royalties will be too.

I can afford $6 a gallon on those terms.

The more I pay at the pump the more I make. You'll never hear me cry about expensive gas.