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    Originally posted by Aggie_bowtech View Post
    And the credibility you already lost is totally lost. I'm not in the oil field (not that it matters) but I do understand economics. I was just reading the comments and you really need to experience a downturn to understand it. You could grow up a little and learn from these people responding to you countless times.
    Is 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 tomcat8910 View Post
      Please tell me you don't really believe that!

      Oh, he does.

      Comment


        Originally posted by JMalin View Post
        Is there no other place where the billions and billions of dollars of capital tied up in producing oil could be put to better use?
        If there was a place it could be put to "better use", it would have already been put there. Capital is looking for the best return.

        Comment


          Originally posted by JMalin View Post
          Falling prices are exactly what we need in order to fuel real economic growth.
          I'm just curious what sectors you predict to have real economic growth? And since you work in the O&G sector which sector will be the best bet on employment once the real economic growth happens?

          Comment


            Originally posted by tomcat8910 View Post
            Please tell me you don't really believe that!
            You bet your *** I believe it. There are some major structural imbalances that the Fed's easy money policies along with Bush/Obama Keynesian stimulus have only masked.

            Comment


              Originally posted by JMalin View Post
              Is there no other place where the billions and billions of dollars of capital tied up in producing oil could be put to better use?
              You 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

              Comment


                Originally posted by asttbe View Post
                You 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
                Stock holders own oil companies. If oil isn't profitable to produce at those lower prices, the money will go elsewhere.

                Comment


                  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.

                  Comment


                    Originally posted by JMalin View Post
                    Stock holders own oil companies. If oil isn't profitable to produce at those lower prices, the money will go elsewhere.
                    False. 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?

                    Comment


                      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

                      Comment


                        Originally posted by SaltwaterSlick View Post
                        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.
                        Well, that sucks. After applying for a year, I have a Dec. 15 start date at a major oil services co. I have wonderful timing.

                        Comment


                          Originally posted by trophy8 View Post
                          False. 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?
                          The investors will find a different place to park their money. I certainly would be if I had a large position in a company that had the majority of their leases in expensive to produce shale formations.
                          Last edited by JMalin; 11-30-2014, 08:47 PM.

                          Comment


                            Originally posted by bphillips View Post
                            Hey 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.
                            Well I wasn't arguing that point.....I think I was just on the wrong page of thinking. You are correct, I just hope people are smart with their money.

                            Comment


                              Originally posted by ladrones View Post
                              15 sounds like a really low number with all the support a rig needs to run.
                              We run a 15 man crew on our rigs, but yes there are others there in support roles.

                              Comment


                                Its not if its just a matter of when, used to go by pipe yards east of Houston,stacks and stacks of piping 100 + cars in the lot, then boom places look like a banded maybe 10 - 15 cars. things are slowing just wait until after the election remember when Clinton left..

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