Hey Oilfield Guys!!

[gingib]

this coming from people who rejoice over the life changing status they derive from $1/gallon cheaper gas.... yeah, that's where I want to get my financial advice from...

Maybe not to you, but saving $200 a month on gas is a good savings to me.

But then again I don't make the big bucks like you

Funny how these oilfield workers get so defensive, but the smart ones will tell you how much money is thrown around in the field

[gingib]

Now do I want to pay $3 a gallon so a select few can get $$$fat$$$ and live high on the hog? Nope.
Does that make me a bad person? I don't think so.

Thank you.

These people who make big $$$ off the oil gas want to keep living high on the hog and don't like it.

[tex8569]

2008 oil crash was a result of low demand and the financial crisis. 2008 gas crash was a result of over supply of nat gas. 2014/2015 is because we got really good at finding oil/gas and are now oversupplied. There is also no associated financial crisis like lending/real estate in 2008 or savings and loans in the 80s. Demand in the US and the world is still increasing but supply is outpacing demand growth. Prices will fall in 2015 because no one will shut in well and they will flow at a low sunk cost, plus many companies have a reasonable piece of 2015 production hedged. 2016 will have lower volumes and thus higher prices. We're the victim of our own success.

So many companies leveraged to the gills with cheap debt and high commodity prices over the last few years. The ones who cant cover their opex and interest payments are the ones who will suffer. Those who showed discipline and refused to pay outrageous multiples for fields, production or companies over the last few years and just accumulated cash will do great over the next few years. Theyre going to be able to make some great moves with their war chest.

Service and small EP companies will hurt the most with the lack of activity or capital but its not the end of the world. We're still building massive chemical complexes on Gulf Coast which will help raw materials and skill laborers. The US economy is growing at its best rates in several years. We will likely never grow at the break neck pace of the 90s but raw number of growth (not percentage) is actually greater.

PS- The Saudis are hurting Russia, ISIS and Iran the most with low prices on purpose. Those 3 are threats to them and low prices cut their funding and threat level. And as previously mentioned, they got hosed in the 80s by small members and wont let it happen again. They have $900B in the bank and can produce at $10 or less/bbl. No one can compete with that.

The OP deserves a lot of credit for posting this 2 weeks before the big sell off.

[Breezy]

i don't want no body to loose their jobs first and foremost but i know guys that just drive a truck and move a few handles here and there and make $125,000 a year. My one buddy has to pay his labor guys $25/hr. Before this boom he was paying the same guys $12. Heck i have had to pay my tire hands $2-$4 more per hour just to keep em. That is flat out crazy !

[kyle1974]

Thank you.

These people who make big $$$ off the oil gas want to keep living high on the hog and don't like it.

it's more about the snide comments regarding the alleged stupidity of oil field people. contrary to popular belief, we actually do have savings accounts, investments, and even buy fuel for our oilfield wives. Heck, some of us even send our kids to the doctor when they get sick.


I think some of you guys have watched "Armageddon" with super star Bruce Willis one too many times and have a slightly distorted view of the reality of the oilfield.

[RiverRat1]

I did.

I was making a general reference to oil/gas employees because I am afraid the long excellent run will terminate many employees and most I have seen can't manage a $1.......spend baby spend

I know lots who save money.

this coming from people who rejoice over the life changing status they derive from $1/gallon cheaper gas.... yeah, that's where I want to get my financial advice from...someone who actually see's a tangible difference from a couple hundred dollars a month.

go ahead and enjoy the cheaper prices while you can, because when the gas goes back up, all of us oilfield folk will be back at full throttle taking those dollar bills right out of your wallet

I don't get this mentality. So folks that want to save a buck are financially incompetent???
Everyone enjoys cheaper fuel prices. I know I do. It's not the consumers fault that oil prices are dropping. Quite the opposite actually.
I hate to see anyone lose there job but it's totally out of my control.
Now do I want to pay $3 a gallon so a select few can get $$$fat$$$ and live high on the hog? Nope.
Does that make me a bad person? I don't think so.

He didn't say everyone who wants to save a buck is incompetent. He said those who act like them saving a buck is more important than another persons job are.

And FTR I don't want to pay $4 per gallon either..or even $3 per gallon... But I'd rather pay $2 per gallon and have the work stay in Texas versus paying $1.50 and all the oilfield jobs leave and go away. That 50 cents won't affect me that much at the pump but it will affect lots of people you can't even imagine all over the state.

[RiverRat1]

i don't want no body to loose their jobs first and foremost but i know guys that just drive a truck and move a few handles here and there and make $125,000 a year. My one buddy has to pay his labor guys $25/hr. Before this boom he was paying the same guys $12. Heck i have had to pay my tire hands $2-$4 more per hour just to keep em. That is flat out crazy !

Yes, it is crazy. But it would settle all out with oil at $75 also. But the markets are not rational.

But be careful what you wish for also. It may appear good that if oil stays low you make extra money paying employees less. But then what happens if that turns into deflation and the markets tank? You will lose a lot more.

it's more about the snide comments regarding the alleged stupidity of oil field people. contrary to popular belief, we actually do have savings accounts, investments, and even buy fuel for our oilfield wives. Heck, some of us even send our kids to the doctor when they get sick.

I think some of you guys have watched "Armageddon" with super star Bruce Willis one too many times and have a slightly distorted view of the reality of the oilfield.

LOL... Nope all oil guys are uneducated and way over paid. I think we were all born in east Texas also.

[Take Dead Aim]

this coming from people who rejoice over the life changing status they derive from $1/gallon cheaper gas.... yeah, that's where I want to get my financial advice from...someone who actually see's a tangible difference from a couple hundred dollars a month.

go ahead and enjoy the cheaper prices while you can, because when the gas goes back up, all of us oilfield folk will be back at full throttle taking those dollar bills right out of your wallet

This is the epitome of the way a people who live off of well-fare think. Expecting someone else to tote the bill and support their livelihood. I get the difference is your are working for it whereas they are standing in line for it. My point is the mentality that you think you and your job is more important than someone saving a couple hundred dollars a month. Makes zero sense. I never realized that there are so many people in O&G industry that had this mentality until this thread. I know its not the masses but there are a significant number that think the way Kyle does and it is surprising to say the least.

[BrianL]

this coming from people who rejoice over the life changing status they derive from $1/gallon cheaper gas.... yeah, that's where I want to get my financial advice from...someone who actually see's a tangible difference from a couple hundred dollars a month.

go ahead and enjoy the cheaper prices while you can, because when the gas goes back up, all of us oilfield folk will be back at full throttle taking those dollar bills right out of your wallet

Look at US gasoline consumption over the the last 8 years. The high prices caused a 50% reduction in gasoline sales in the US. Those numbers are amazing to me. then the huge oil boom that increased supply while demand was shrinking rapidly. I don't think $3 fuel will be sustainable for a long period, reduced demand or over supply will kick in. OPEC won't give up market share, so demand has to increase which will only seem to happen at lower prices. Your gripe is with supply and demand, and US O&G being too good at their job, not the guy at the pump. IMO

[oktx]

I read that since prices have dropped, gasoline usage has risen 1%.

[txjustin]

And it begins.....hope yall oil guru's learned how to save money

THat was rather snarky. For the record, I work in the corporate office and have never worked in the field.

Further, I was a finance major. I understand that end of it...

[Bullydog]

This is the epitome of the way a people who live off of well-fare think. Expecting someone else to tote the bill and support their livelihood. I get the difference is your are working for it whereas they are standing in line for it. My point is the mentality that you think you and your job is more important than someone saving a couple hundred dollars a month. Makes zero sense. I never realized that there are so many people in O&G industry that had this mentality until this thread. I know its not the masses but there are a significant number that think the way Kyle does and it is surprising to say the least.

Its more telling than surprising, actually. I hope it all works out in the end for anyone who is struggling at work. Maybe its just the way some respond on here in writing. But I have really been turned off by the aggressive comments toward anyone who has an opinion on the matter which doesn't fall in line with theirs. Nobody is wishing OG guys ill will...sheesh.

[Brooks]

I enjoy checking this thread daily

[bloodtrailer28]

this coming from people who rejoice over the life changing status they derive from $1/gallon cheaper gas.... yeah, that's where I want to get my financial advice from...someone who actually see's a tangible difference from a couple hundred dollars a month.

go ahead and enjoy the cheaper prices while you can, because when the gas goes back up, all of us oilfield folk will be back at full throttle taking those dollar bills right out of your wallet

See thats the attitude most people cant stand from the oil field guys

[bloodtrailer28]

This is the epitome of the way a people who live off of well-fare think. Expecting someone else to tote the bill and support their livelihood. I get the difference is your are working for it whereas they are standing in line for it. My point is the mentality that you think you and your job is more important than someone saving a couple hundred dollars a month. Makes zero sense. I never realized that there are so many people in O&G industry that had this mentality until this thread. I know its not the masses but there are a significant number that think the way Kyle does and it is surprising to say the least.

and why some really dont care if some lose their high paying jobs. Really sad to see....