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Hey Oilfield Guys!!

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    I read up on this thread each day as I find it interesting.

    Growing up in Midland and seeing an entire town at the mercy of the market, the only thing I knew about oil was that I didn't want anything to do with it. Felt the same way in college at Tech while I was studying to be a Civil Engineer... as I walked by the Petroleum 100 student capacity auditoriums with only 3 or 4 students in class. Sorta been wondering about that decision watching my PE friends the last decade or so.

    But, today, as I saw a convoy of 20 or so Trican Well Service tractor trailer's pulling through town at lunch headed north, I remember why I made that choice.

    I can live with $2.50 - $3.00 and would choose that over the impact this downturn's gonna have on many folks I know in the industry. Prayers and good luck to y'all.
    Hunting Videos & Flickr Pix

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      Here is an article I got emailed...... seems that 60 of H&P flexrigs have had their drilling contracts canceled over the past 30 days. Doesn't say what areas of the country though

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        anyone else feel like another major war is on the horizon?

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          I keep hearing this issue is way worse for Russia...I understand their economy is different but can someone give the basic 101 as to how much more painful & some reasons as to why??

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            Originally posted by Artos View Post
            I keep hearing this issue is way worse for Russia...I understand their economy is different but can someone give the basic 101 as to how much more painful & some reasons as to why??
            Our oil industry is privately owned. The other countries are state owned, their governments rely on the oil money.

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              Oil in most countries are nationally owned, therefore it is a major source, if not the only source for revenue.

              Is US the only privately owned oil?

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                Originally posted by Artos View Post
                I keep hearing this issue is way worse for Russia...I understand their economy is different but can someone give the basic 101 as to how much more painful & some reasons as to why??
                The way I understand from what I've read is that it is the main moneymaker for the entire country because their oil is nationalized and they are a major exporter/supplier to Europe.

                I'm just thankful that I listened to the old heads when I first came out here and spent the last couple of years paying off everything I could instead of buying new stuff and I have something to go back to if I get downsized out. Wish more guys would do the same

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                  Originally posted by firemedic2105 View Post
                  The way I understand from what I've read is that it is the main moneymaker for the entire country because their oil is nationalized and they are a major exporter/supplier to Europe.
                  Would this be one reason Pemex (Mexico gas & oil) is considering allowing private drilling on their dirt??

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                    Originally posted by JMalin View Post
                    anyone else feel like another major war is on the horizon?
                    Putin is telling the world that opec and the US conspired to drive prices down. If the world economy collapse because of this then yes there will be wars.

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                      Originally posted by Artos View Post
                      Would this be one reason Pemex (Mexico gas & oil) is considering allowing private drilling on their dirt??
                      From what an old pusher was telling me a while back, Pemex will flip flop back and forth between private and national every couple of years. I think it has more to do with difficulty getting companies down there to drill when it's nationalized because it's a pretty big headache from what I've been told.

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                        Originally posted by firemedic2105 View Post
                        From what an old pusher was telling me a while back, Pemex will flip flop back and forth between private and national every couple of years. I think it has more to do with difficulty getting companies down there to drill when it's nationalized because it's a pretty big headache from what I've been told.
                        They told you right in regards to it being a headache.

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                          Originally posted by jpowledge View Post
                          Putin is telling the world that opec and the US conspired to drive prices down. If the world economy collapse because of this then yes there will be wars.
                          And is that not what happened?

                          Isn't OPECs job mainly to stabilize the price of oil? If so they're not doing very well watching it drop 2-5% every day down from 80 and then say they will not cut back to stop the fall.

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                            Originally posted by firemedic2105 View Post
                            From what an old pusher was telling me a while back, Pemex will flip flop back and forth between private and national every couple of years. I think it has more to do with difficulty getting companies down there to drill when it's nationalized because it's a pretty big headache from what I've been told.
                            The biggest headache for US companies when dealing with nationalized oil is the trust issue. I worked (engineered) a $40B Joint venture project with a major US company in Venezuela and the major was constantly managing their exposure to loss in the event that the Venezuelan gov't decided to kick the major to the curb.

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                              Originally posted by BrianL View Post
                              Oil in most countries are nationally owned, therefore it is a major source, if not the only source for revenue.

                              Is US the only privately owned oil?
                              No, there are a few others who have private ownership.

                              And in most of those countries with nationalized oil, the politicians based their budgets on oil exports at $100+/bbl. There will be repercussions globally when places like Venezuela can't export their way to a balanced budget.

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                                Originally posted by Catarina View Post
                                any investors want to buy some hotels in the Cotulla area with me and turn them into "illegal alien detention centers"....... its amazing they are still building new ones all over
                                Funny you mention this. The Red McCombs man camp next to prison in Dilley must have gone belly up. Looks the the Govt. took it over or made some kind of deal because they are bringing in doublewide trailers to house all the illegals that came across on Obummers last infusion of democrat voters.
                                Being told it will house 2400 people. What a deal.

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