Quote:
Originally Posted by irokcj5
He had to pay his guys 3xs what HE thought they were worth, because a lack of quality people. Supply and demand... Funny though how many seem to think it's still 1985 and labor should be 10 bucks an hour. Heck 100k with a family of four is tight. I'm glad to see oilmen make a handsome living. It's hard work, they're away from family a lot, and sacrifice a lot. I for one hope 90-100$ per barrel comes back soon and the hard working men and women can continue enjoying the fruits of their labor. God's speed oilmen. Remember if the worst happens and you lose it all, you'll still have family and friends AND everything is temporary. You WILL survive and you WILL once again be gainfully employed. Never give up and never lose Faith.
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Yea, that's what it was. Demand was excruciatingly high and supply was at a staggering low for a High School educated 20 year old male to go work 14 days a month and make $100k/year.
ARTIFICIAL VALUATION OF A PRODUCT OR SERVICE CAUSED IT. If a product or service is linked to an artificially demanded, supplied or valued product it will in turn be subject to ARTIFICIAL demand, supply, or value. He was charging Oil companies 3xs what he needed to bc they were selling oil at 3xs what it needed to be at. Either the service companies are going to have go back to lower margins and tighter cost efficient operations or they will not make it. Its all directly related to the value of the dollar, or in this case the value of the barrel.
Or they will have to review their business model and decide if it feasible to have the business anymore.