Hey Oilfield Guys!!

[txwhitetail]

Watch the oil prices and rigs stacking....will be some nice stuff at the pawn shops from guys like RJB.

[kyle1974]

Hey Oilfield Guys!!

There seems to be an impression that everyone in "the oilfield" is an irresponsible 20 year old floor hand with a fancy truck and glitter fleck painted bass boat.

Contrary to popular belief, some of us have families, pay our bills, and even have savings accounts and investments. Heck, we even do crazy things like set up college funds for our children. SOME of us even have homes and businesses built where we buy products like wood, windows, concrete and steel. That doesn't sound like "oilfield" does it? Perhaps when you're reaping the benefits at your local EZ pawn, you should think for a moment about your customer base and where your paycheck is coming from.

From whining about oilfield traffic on their ranch to gas prices for their $70,000 trucks, there are some short sighted people who don't seem to grasp the overall impact of the industry in texas, and the resulting multi billion dollar impact it has on our economy in this state.

https://www.txoga.org/resources/economic-impact/

[longstride]

Steve Forbes take on this

http://www.forbes.com/sites/steveforbes/2014/11/29/is-opec-a-toothless-tiger/

[WyoBull]

A lot of genius on this thread. There seems to be an impression that everyone in "the oilfield" is a 20 year old floor hand with a fancy truck and glitter fleck painted bass boat.

Contrary to popular belief, some of us have families, pay our bills, and even have savings accounts and investments. Heck, we even do crazy things like set up college funds for our children.

From whining about oilfield traffic to gas prices, there sure are some short sighted people who don't seem to grasp the overall impact of the industry in texas.

I know a lot of guys in the oilfield that are very responsible, educated and have great careers in the energy sector.
That being said, the majority of the younger field guys that are making good money with little or no education are spending it like it will never end.
Those are the guys I am referring to and with you being in the business you know exactly the ones I am talking about.
I can drive down the street here and almost guarantee that 80% of the $70,000 lifted and customized diesel trucks are being driven by young oilfield guys and they are financed to the max. It is just the way it is in that industry that pays very well with little to no education or experience. The smart ones will sock it away and live modestly because it won't last forever.

[kyle1974]

Hey Oilfield Guys!!

Without a doubt there are irresponsible people in the oilfield.

You think maybe that exists in other industries as well? As for paying people well with no education, what's wrong with that?

[WyoBull]

Without a doubt there are irresponsible people in the oilfield.

You think maybe that exists in other industries as well? As for paying people well with no education, what's wrong with that?

Don't misinterpret what I am trying to say as I don't begrudge anyone making a lot of money etc. And, yes there is irresponsibility in any industry.
What I can tell you though because I grew up around the oilfield industry, is that no, there is not another industry that I know of that pays so well for so little experience or education.
The nice thing about our country is that everyone has the opportunity to do well, however one defines it. I have just seen the cycle of the industry and it does not change, especially at the lower end. My wish, is that more of those young guys had the wisdom and discipline to sock it away now so they could live a much nicer life later.

[rubydog]

I'll take a kreighoff if you're selling

I have NIB Crown Grade if you can swing it.

[Landrover]

PLEASE PLEASE PLEASE be saving some money!!

I am starting to see lots of the same really bad habits that left lots of guys in trouble the last time the work died off. I understand the toys and trucks thing and thats all fine and good if you have some good savings accumulated. I would hate to see some of you guys get in a big bind should the work be gone soon. I know many of you may hear "we have 10 years of work around here" because that is a common phrase but the fact is if oil ever drops so will the work. Just because the work is there doesn't mean it's worth going after to all the companies.

I give this reminder because I personally know of a couple guys with 100k+ salaries that have to finance furniture or TVs and even one that makes over 300k that never has a dime in his pocket.

Have fun but be careful fellas.

I have not read ANY responses but THANK YOU for posting. Sadly, it is not only OILFIELD related per see.........it is the human condition.........almost like Pavlov's dog syndrome. Many men can totally change their family tree by resisting/putting off wants for the greater good. It is scary the % of so-called smart Americans that don't have $1,000 cash on hand..........and these people make $60,000++++ per/year. It aint how much you make, it is how much you keep!!!
On the flipside, when the market does fall (and it will someday regrettably) folks like me will be there to save them.......... at half price or less. Great post sir!!

[curtintex]

I'm a contractor. I help to build shopping malls, schools, hospitals, subdivisions, apartments, high-rises, office complexes, etc. Dropping oil prices are no good for anyone. I've hired over 100 people this year alone. With all of the money infused into the economy, and interest rates being so cheap, developers cannot afford to sit on their money...they've had to put it to work. When oil prices drop, a lot of that investment money goes away and development slows down. When the oilfield dipped in 2008, construction in 2009 and 2010 hit the crapper. Construction is cyclical but you can almost always trace it to the cycle of the oilfield. As goes oil, my industry will follow about 12-18 months behind. I'll be ready for it...I hope my people are. They're all working lots of overtime right now, I hope they're putting up for a rainy day....because rainy days are always just around the corner.

[JMalin]

Since when is paying less for something a bad thing? What kind of voodoo economics has the government been teaching y'all?

[asttbe]

Since when is paying less for something a bad thing? What kind of voodoo economics has the government been teaching y'all?

When is doesn't become feasible for that industry to provide at that price, is when. Less demand and they turn down the supply. The spike up is always worse than the lowering. Seems like you are buying into the government teachings more than the other people.

Google monetary effect of oil and gas industry in Texas.

You, like a lot of people, have a myopic view of things. Stop looking through a soda straw and see that the is a big world out there that is codependent on a lot of other factors other than saving $3.00 on a tank of gas. Including your property value in Texas amongst other things.

[oktx]

Doesn't JMalin work in the oilfield?

[JMalin]

When is doesn't become feasible for that industry to provide at that price, is when. Less demand and they turn down the supply. The spike up is always worse than the lowering. Seems like you are buying into the government teachings more than the other people.

Google monetary effect of oil and gas industry in Texas.

You, like a lot of people, have a myopic view of things. Stop looking through a soda straw and see that the is a big world out there that is codependent on a lot of other factors other than saving $3.00 on a tank of gas. Including your property value in Texas amongst other things.

What you fail to see is the billions consumers save on energy collectively will be spent elsewhere or (ghasp!) saved.

[hoyt21]

Like the old school told me it's a vicious cycle it always will be. Wish I could say I've saved enough. But I have gotten my monthly acorn lower and lower with persistence.

[JMalin]

Doesn't JMalin work in the oilfield?

I do. But I'm not self absorbed enough to wish for others to pay higher prices for energy so I can continue working in this industry. There are always other opportunities.