Originally posted by Aggie_bowtech
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Originally posted by JMalin View PostIs there no other place where the billions and billions of dollars of capital tied up in producing oil could be put to better use?
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Originally posted by JMalin View PostFalling prices are exactly what we need in order to fuel real economic growth.
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Originally posted by JMalin View PostIs there no other place where the billions and billions of dollars of capital tied up in producing oil could be put to better use?
Oil companies put billions and billions of their capital into what they do, produce oil. I don't think they are going to diversify into making diapers or anything else.
They will continue to produce oil as long as there is a demand for it. That will continue until they figure out how to run everything in this world on teddy bear kisses and unicorn farts
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Originally posted by asttbe View PostYou want oil companies to build roads?
Oil companies put billions and billions of their capital into what they do, produce oil. I don't think they are going to diversify into making diapers or anything else.
They will continue to produce oil as long as there is a demand for it. That will continue until they figure out how to run everything in this world on teddy bear kisses and unicorn farts
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Gentlemen (and ladies), it is coming. I have been in some meetings the past few weeks that would scare the heck out of you guys... When I got into the oil patch, we were getting oil from The Shah for $2.00/bbl... I've seen a bunch of booms and busts... they are all very similar, and this one will be no different. The bust will come more from politics than anything. The Saudi's and the US want to teach Putin a lesson, so they will keep the production flowing and glut the market. This will severely hurt Russia's economy, as well as the black market folks like ISIS... The side effect is the high tech ways we are getting the stuff out of the ground, is indeed high tech, but it is also equipment intensive and very expensive. I know for a fact that one of the biggest oil field services companies has a plan ready to go to cut 3 BILLION out of their operating budget within 90 days, and if oil stays below $80.00/bbl, they will push the go button before Dec. 31. The current US administration is trying its best to make the coal industry obsolete by draconian pollution policies. If this service organization indeed cuts 3 billion from its operations budget, there will be more than a few of these youngsters on the street. And like Curt said, it will be more than oil patch hands that will be out of work.
We are at a critical tipping point right now, and I don't see anything on the immediate horizon to stop us from falling off that cliff. I hope, no I pray I am wrong.
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Originally posted by JMalin View PostStock holders own oil companies. If oil isn't profitable to produce at those lower prices, the money will go elsewhere.
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The demand isn't going to go anywhere for a long time, and if the publically held companies in the US don't produce it with Americans. State owned companies will. And once again, the spike up is always worse than the drop after a glut. No matter what Ron Paul tells you.
I'm out on this with you. We will just agree to disagree. Hope you have a Merry Christmas
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Originally posted by SaltwaterSlick View PostGentlemen (and ladies), it is coming. I have been in some meetings the past few weeks that would scare the heck out of you guys... When I got into the oil patch, we were getting oil from The Shah for $2.00/bbl... I've seen a bunch of booms and busts... they are all very similar, and this one will be no different. The bust will come more from politics than anything. The Saudi's and the US want to teach Putin a lesson, so they will keep the production flowing and glut the market. This will severely hurt Russia's economy, as well as the black market folks like ISIS... The side effect is the high tech ways we are getting the stuff out of the ground, is indeed high tech, but it is also equipment intensive and very expensive. I know for a fact that one of the biggest oil field services companies has a plan ready to go to cut 3 BILLION out of their operating budget within 90 days, and if oil stays below $80.00/bbl, they will push the go button before Dec. 31. The current US administration is trying its best to make the coal industry obsolete by draconian pollution policies. If this service organization indeed cuts 3 billion from its operations budget, there will be more than a few of these youngsters on the street. And like Curt said, it will be more than oil patch hands that will be out of work.
We are at a critical tipping point right now, and I don't see anything on the immediate horizon to stop us from falling off that cliff. I hope, no I pray I am wrong.
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Originally posted by trophy8 View PostFalse. Because that money will not be rolling in like it was. And folks will lose a lot in stocks. Where did you go to college? And where do you work?Last edited by JMalin; 11-30-2014, 08:47 PM.
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Originally posted by bphillips View PostHey man this is what I was getting at the whole time. I was one of the young dumb fairly new guys in '08 and '09. This thread was intended to be a heads up for the guys in that position now. I live as little debt as possible now but make more so it won't hit me like before but it surely will hit some the same way it did me then.
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