Not good for the local economy (i.e. jobs).
If prices stay down, all sectors will begin to feel it soon!

I don't no feel one bit bad for oil companies. They have been raping the consumer long enough. I will take a few months of low fuel prices. We all know it's going back up.

I saw gas as low as $ 2.09 today in Lake Charles. Most stations were about $ 2.15.

Its definitely hurting my paycheck! But gas is like a monthly bill 200 to 400$ a month
Pros and cons of it all

People here that work for oil companies I'm sure will dissagree, but it's hard to imagine the oil companies are actually losing money right now. No doubt they're "losing out" on money-big difference. Seems I read where Exxon-Mobil net income for third quarter was like $8 trillion? Staggering. I realize not all companies are like Exxon-just posting an example.

25 bux cheaper to fill up my truck.... ill take that for a couple months... itll be back up to normal prices by Feb

Rape
 

So if oil companies are raping you. How about WalMart and every other company.

$$$
 

Exxon pays more taxes than they make profit in the USA. Most of exxon's income comes from overseas.

Obama's fault

Once u get a taste of that $200/barrel it's hard to go back to blue collar status.

Agreed!!

No oil company is losing they are not making higher %

Most oil companies sell future oil at set prices 6 months a head

So I would say most are locked on at $65-$80bbl

As far as jobs the ones who take the lick hardest is the drilling side which I feel for those hard working families !

I'm very fortunate that my job will always be safe as long as gas and oil gets sold down the pipelines

I transport the raw crude and we get the short end of the stick as well

Show me documentation for that info.

A lot of my investments are in oil and gas stocks, so Im taking a hit right now. Saw a report the other day and the leaders of OPEC stated they will not reduce production and will drop it to 20$ a barrel, if need be. They are purposely flooding the market with inexpensive oil for one purpose, to starve out the little guys.

I was reading another article about the drop in oil, the consensus was that over the last 10 and even more so 5 yrs there has been a boom in the little guy oil producers, and they were slowly bleeding the big names so OPEC was dropping the prices to starve out all these little guys, OPEC can survive they have the reserves, the little guys cant hang on as long.

This is were I make a lot my money, so I try to get as much info as possible. I don't see the prices going back up for a while. The lower prices is good for the economy people have more disposable income and they are using it (GDP was up 5%) so for 98% of the country this is welcomed!

For many in the energy field this will not fare good (including myself with investments) as the belts get tighter to try and survive the lower prices for the smaller productions, there's going to be some weeding out, only the strong will survive.

I honestly think this will settle out around Jan/Feb time and stay at that level until spring to early summer and then a slow increase.

These are just my thoughts, stranger things have happened...............

What helps many will hurt some
What helps some will hurt many

This will always be true
My college Econ 410 professor had this written on his wall in his office. I'll always remember that.

Why most oilfield companies are getting tad bit nervous is because they were so spoiled to $100 oil for so long

And service companies gulf wide and world wide also took advantage of it and charge rates and salaries have sky rocket up over last 15 years

We had an over view of what has happend in last 15 from 2000 till present

Everyone who started with our company from 2000-2002 have seen pay increase hourly of $22-26 an hour and charge rates increase $50 to $60 hour
Oil was $28 a bbl in 2001

Prime example is you had a guy starting in 2000 making $11hr and his charge rate was like $55

Now 2014 that same guy is making $33-35 hr with a charge rate of $75-90 hr

You can't take people money away so cost wise over 15 years has been profits for all

3Q net was 8 billion. Sounds like a lot but what did they spend to make that 8 billion?

I had my Ex in-laws that worked for Exxon tell me that Oil is the smallest income for Exxon. Exxon owns allot of the diamond mines in Africa. That is one of the biggest incomes.
And foe those calling for all the lower prices, remember South La is driven by oil prices. I remember in the 80's driving thru Morgan City and seeing the sign that said last one out turn the light off!!!! It was a tuff time for everyone in south La.

$1.75 gal. today at costco