Quote:
Originally Posted by MathGeek
Can the company be profitable with gas under $2.00 a gallon?
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Yes , when I started in the oil industry in 2000 oil was around 25-28bl and gas under $2
And oil companies never batted a eye at cost and it was actually a great time to be in the oil industry. When oil started its climb to record prices you saw companies expand and drilling took off to new levels and it was all great times .
Oil companies have been taking advantage of cheap labor and high profits for years but once then oil prices were stable cost of labor double for most . The oil companies were pushing out high bonus and ridicules salaries . I seen more money pissed off on some of the most unless things possible.
Oil companies are just like most Americans they live to there means and when oil was $100 bbl they spent like it.
Now they want to lay off the work force that made them !
Just like rice farming . You hold for higher price and get stuck with lower price but you survive and still buy 300k combines !
We seen it before (2008) and we will see it again , it's a market sold on futures !