Gas prices

[marty f]

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...............

[PUREBAY2200]

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.

[PUREBAY2200]

Originally Posted by PUREBAY2200

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.

Incase this was missed by some of yall!
Stop being narrow minded and selfish.

["W"]

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

[Rig Magician]

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.

[eman]

$1.75 gal. today at costco

[Top Dawg]

Originally Posted by eman

$1.75 gal. today at costco

Woohoo!!!!! Bout time the workin folk get a break

[B.B.]

http://theeconomiccollapseblog.com/a...-economy-crazy

Real good read for those that think lower prices at the pump is a good thing!

[DirtyD]

Originally Posted by B.B.

http://theeconomiccollapseblog.com/a...-economy-crazy

Real good read for those that think lower prices at the pump is a good thing!

Yea, the layoffs are coming. Louisiana and Texas will feel most of the heat. Lots of mom and pop oilfield companies won't make it and bigger companies have already started trimming down. I shake my head when people say low oil prices are a good thing.

[marty f]

Originally Posted by B.B.

http://theeconomiccollapseblog.com/a...-economy-crazy

Real good read for those that think lower prices at the pump is a good thing!

This is a very good explanation of how this effects everyone, cheap gas seems good at first and is a immediate and tangible aspect when at the pump but the big picture is you may have saved 30$ when filling up your boat today but in 6 months you may not be able to even make the boat payment due to job lose

good read, I read a very similar articles about a week ago and it really dug deep into the ripple effects.

Example thats close to home..... good ol John thats got a job as a tool maker in mom and pops oil tooling company for the last few yrs came down to big lake or venice 2 or 3 times a year and hired a guide to fish. Well mom and pop have had to cut back due to the demand for their tooling has been cut by 20% or more, so mom and pop cut back 30% this means good ol John just lost his 30$ an hr job and has to decide to either make his truck payment or hire a fishing guide . So now the guide is having to cut back on his expenses due to lack of customers, so no new boat for the guide next yr. Boat production goes down this means good ol mike now at the boat plant has too look for a new job . Now that there isn't as many workers at the boat plant the food truck that came by at break time isnt coming by, food truck guy is loving the cheap gas but dosent understand why he is losing customers.... its gets crazy stupid .

["W"]

Originally Posted by marty f

This is a very good explanation of how this effects everyone, cheap gas seems good at first and is a immediate and tangible aspect when at the pump but the big picture is you may have saved 30$ when filling up your boat today but in 6 months you may not be able to even make the boat payment due to job lose

good read, I read a very similar articles about a week ago and it really dug deep into the ripple effects.

Example thats close to home..... good ol John thats got a job as a tool maker in mom and pops oil tooling company for the last few yrs came down to big lake or venice 2 or 3 times a year and hired a guide to fish. Well mom and pop have had to cut back due to the demand for their tooling has been cut by 20% or more, so mom and pop cut back 30% this means good ol John just lost his 30$ an hr job and has to decide to either make his truck payment or hire a fishing guide . So now the guide is having to cut back on his expenses due to lack of customers, so no new boat for the guide next yr. Boat production goes down this means good ol mike now at the boat plant has too look for a new job . Now that there isn't as many workers at the boat plant the food truck that came by at break time isnt coming by, food truck guy is loving the cheap gas but dosent understand why he is losing customers.... its gets crazy stupid .

Your right

I have several big oil companies salesman that use my guide service a lot for there customers every year ..
I'm sure they will not book near what they did this year if oil prices keep falling

Just think about it for all the full time guides who lively hood depends on oil money

Most of your big guide outfits are powered by oil companies who book lots of boats

1st cut of a budget is entertainment !!


This is main reason I will not go full time guide until I retire with 30 years with my company

[PaulMyers]

Originally Posted by "W"

This is main reason I will not go full time guide until I retire with 30 years with my company

Very smart move on your part!

["W"]

Low gas prices are a economy killer for Louisiana

Thousands will get laid off if prices don't come back up after the new year and it will be a trickle effect
Starts with oilfield workers , then machine shops , hot shot drivers , small independent companies ..

Low oil prices effect way more than the oil field workers it effects millions of people and Texas & La will be hit the hardest

So when you enjoy your $30 fill up remember someone is losing a job at the same time because of It

[alphaman]

Obama s fault 😬

[PUREBAY2200]

What is the exact percentage of people in Louisiana that are directly related to oil and gas.
Drilling, production, refining , sales.

Just wondering.

And if yall think for 1 second that the Nation or the government or OPEC or any big other group is going to raise gas prices Bc people in LA are hurting financially..... It's not gonna happen.
We're not Texas, we can't force our will / needs on others.
Adjust, or get a new job.
I was in the financial sector for 7 years, I didn't like where it was going and how my life/income was being dictated by goverment / company rules, laws & regulations. So I moved on to a new career and I've never been happier and I love what I do.
That's just my opinion.
Merry Christmas

["W"]

Originally Posted by PUREBAY2200

What is the exact percentage of people in Louisiana that are directly related to oil and gas.
Drilling, production, refining , sales.

Just wondering.

And if yall think for 1 second that the Nation or the government or OPEC or any big other group is going to raise gas prices Bc people in LA are hurting financially..... It's not gonna happen.
We're not Texas, we can't force our will / needs on others.
Adjust, or get a new job.
I was in the financial sector for 7 years, I didn't like where it was going and how my life/income was being dictated by goverment / company rules, laws & regulations. So I moved on to a new career and I've never been happier and I love what I do.
That's just my opinion.
Merry Christmas

I would say 70% of jobs on La and Texas have some kind of oil industry related or maybe higher %

[PUREBAY2200]

Originally Posted by "W"

I would say 70% of jobs on La and Texas have some kind of oil industry related or maybe higher %

W ; Merry Christmas to you and your family!
I appreciate that you replied, I appreciate that you share your views from inside the eyes of an oil and gas worker.
But I want a real number. Not a best guess estimate. I have no ties to oil and gas, I know a lot about it Bc of my past, but I don't know 1/3 of what you do.

I just want to know how many people are directly tied and could be effected by the cut backs of oil companies due to the low oil / gas prices.

[PUREBAY2200]

And yall talk about people acing 30$ at the the pump causing someone to lose a job.
How about when it cost someone another 120$ ( 4 fill ups a month) and they have to decide ... Pay a bill or buy good with that, or invest in thier retirement or whatever else.
Now that hurts people too bc I as a consumer have less money to spend in local stores , invest in the market and save in my bank acct.

["W"]

Originally Posted by PUREBAY2200

And yall talk about people acing 30$ at the the pump causing someone to lose a job.
How about when it cost someone another 120$ ( 4 fill ups a month) and they have to decide ... Pay a bill or buy good with that, or invest in thier retirement or whatever else.
Now that hurts people too bc I as a consumer have less money to spend in local stores , invest in the market and save in my bank acct.

Well I can tell you this most middle class jobs are oil related in some way , from the tire man selling tires to the hot shot driver delivering cargo

There is a small amout of people who it does not effect like retail workers , government employes , teachers , fast food workers , Military and land scapers

But for the most part oil effect lots of jobs and not only in La and Texas but other places

Even the casinos are oil dependent

[PUREBAY2200]

There are 50,455 public teachers in Louisiana as of October 1, 2014 ( that's when schools turn in enrollment and staff numbers)