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Old 11-30-2014, 09:25 PM   #251
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Originally Posted by JMalin View Post
Do you have any idea how many trucking jobs are going unfilled right now due to every Joe Blow with a CDL getting an oilfield job?
Malin and we are still short oil haulers, water haulers etc out here
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Old 11-30-2014, 09:25 PM   #252
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It had everything to do with it....That's the point. Oil prices are not driven by American spending or monetary policy, however American spending and monetary policy are affected by oil prices. In this state, more than the oil industry and consumer spending at the pump is affected by oil prices.



I buy about 50,000 gallons of diesel every month. While I'd love to pay less for it, I don't want to pay $2/gal for diesel for only 5,000 gallons due to the fact that there is no development on which to burn 50,000 gal of diesel. My guys saving money on gas doesn't really help them if they don't need gas to drive to work, because they don't have a job.

Curt. He dont understand that. Its been explained over and over. Some still dont get it.
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Old 11-30-2014, 09:29 PM   #253
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This Jmalin guy is a trip. Didn't I read a post where he said he graduated from college? I'm a little worried what they are teaching there. lol
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Old 11-30-2014, 09:31 PM   #254
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Originally Posted by JMalin View Post
Do you have any idea how many trucking jobs are going unfilled right now due to every Joe Blow with a CDL getting an oilfield job?

Do you realize to tout "growth" in a given industry the same industry can't crash that grows?

If the oilfield crashes, trucking will crash.

Maybe the guys and trucks that lost work might start hauling something else, But it will be items that have tight profit margins and will not be getting premium rates like they are right now in the oilfield.

Last edited by kyle1974; 11-30-2014 at 09:33 PM..
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Old 11-30-2014, 09:33 PM   #255
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Chemical..... LOL. I guess I'll go invest in WD-40. I'm going to be rich.
The chemical industry is huge.
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Old 11-30-2014, 09:34 PM   #256
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The chemical industry is huge.

And it's going to explode when the oilfield crashes?

What about all those chemicals being sold in the oil industry? Pretty much every area that JMalin said is going to grow, is going to lose if the oil ind. goes down. The net upward growth would be non existent.

Last edited by kyle1974; 11-30-2014 at 09:39 PM..
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Old 11-30-2014, 09:44 PM   #257
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And it's going to explode when the oilfield crashes?

What about all those chemicals being sold in the oil industry? Pretty much every area that JMalin said is going to grow, is going to lose if the oil ind. goes down. The net upward growth would be non existent.
No kidding I wonder if he realizes how many chemicals the oil industry uses?
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Old 11-30-2014, 09:47 PM   #258
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Maybe these cheaper prices will force service companies to frac for cheaper. The margins I've seen on some frac jobs are borderline criminal. There's a lot of fat (particularly for some of the bigger players) that can and should be trimmed. Better yet, maybe these lower prices are what's needed to spark some ingenuity on how to produce these wells in a more cost effective manner.

Last edited by JMalin; 11-30-2014 at 09:51 PM..
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Old 11-30-2014, 09:51 PM   #259
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And it's going to explode when the oilfield crashes?

What about all those chemicals being sold in the oil industry? Pretty much every area that JMalin said is going to grow, is going to lose if the oil ind. goes down. The net upward growth would be non existent.
There's a whole more to the chemical industry than oilfield chemicals. From the absorbent in diapers to a polymer framed glock pistol, and everything in between. And I never said it was going to explode, only that it will keep on trucking.
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Old 11-30-2014, 09:52 PM   #260
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You just like stirring dontcha!
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Old 11-30-2014, 09:53 PM   #261
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Originally Posted by kyle1974 View Post
Do you realize to tout "growth" in a given industry the same industry can't crash that grows?

If the oilfield crashes, trucking will crash.

Maybe the guys and trucks that lost work might start hauling something else, But it will be items that have tight profit margins and will not be getting premium rates like they are right now in the oilfield.
Yeah, there's gunna be no more 18 wheelers on the road if producing oil in the eagle ford isn't economically viable. Do you really believe this?
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Old 11-30-2014, 09:53 PM   #262
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Starting to get a little borderline mental with the responses in general.
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Old 11-30-2014, 09:55 PM   #263
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Originally Posted by JMalin View Post
Maybe these cheaper prices will force service companies to frac for cheaper. The margins I've seen on some frac jobs are borderline criminal. There's a lot of fat (particularly for some of the bigger players) that can and should be trimmed. Better yet, maybe these lower prices are what's needed to spark some ingenuity on how to produce these wells in a more cost effective manner.
I hate to have to say it but I agree with you on this and I actually think it will force them to trim the fat. As long as that's all they have to do many will keep working and at the worst take a little pay cut.
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Old 11-30-2014, 09:55 PM   #264
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Originally Posted by JMalin View Post
Maybe these cheaper prices will force service companies to frac for cheaper. The margins I've seen on some frac jobs are borderline criminal. There's a lot of fat (particularly for some of the bigger players) that can and should be trimmed. Better yet, maybe these lower prices are what's needed to spark some ingenuity on how to produce these wells in a more cost effective manner.
Profits aren't only bad but their criminal I tell you! Lol
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Old 11-30-2014, 09:59 PM   #265
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I hate to have to say it but I agree with you on this and I actually think it will force them to trim the fat. As long as that's all they have to do many will keep working and at the worst take a little pay cut.
That's how any business/industry on the planet works.
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Old 11-30-2014, 09:59 PM   #266
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I hate to have to say it but I agree with you on this and I actually think it will force them to trim the fat. As long as that's all they have to do many will keep working and at the worst take a little pay cut.
It's not just what workers are being paid to sit around doing not much of anything. I've seen what we bill for the chemicals used on these jobs and know what they cost us. I don't know how we got any work charging what we did. It's like the whole frac service side is in cahoots. Wireline is a different story. It's cut throat out here.

Last edited by JMalin; 11-30-2014 at 10:02 PM..
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Old 11-30-2014, 10:01 PM   #267
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That's how any business/industry on the planet works.
I'm not arguing that


I'm just hoping that's all they have to do to keep going and it doesn't come from drastic cuts in the form of large layoffs
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Old 11-30-2014, 10:04 PM   #268
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Now these statements are true. I own a small service company and got lucky enough to get in. I got the jobs and am making money not loosing. When I started seeing what companies were charging for the same work it was scary.
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Old 11-30-2014, 10:06 PM   #269
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It's not just what workers are being paid to sit around doing not much of anything. I've seen what we bill for the chemicals used on these jobs and know what they cost us. I don't know how we got any work charging what we did. It's like the whole frac service side is in cahoots. Wireline is a different story. It's cut throat out here.
I know but with less being charged for chemicals employees will get paid less in order for that company to keep their higher profits as long as possible. They won't take the hit for the employees but just the opposite.


You should see a directional invoice to see some waste but until they can do it theirselves they will pay it. Personally I'll take a little less if it means the difference in working or not. Heck the big boys already charge more than us and pay their employees a lot less.
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Old 11-30-2014, 10:11 PM   #270
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Originally Posted by JMalin View Post
It's not just what workers are being paid to sit around doing not much of anything. I've seen what we bill for the chemicals used on these jobs and know what they cost us. I don't know how we got any work charging what we did. It's like the whole frac service side is in cahoots. Wireline is a different story. It's cut throat out here.
I want to respond so bad but I will keep reading. You have no idea what you are talking about. I understand that you do not own a business based on your responses. I honestly feel that you are trying to rile up the masses. If your current POTUS had not implemented all those taxes to pay for something that will never work maybe, just maybe the prices would not be as high.

I would like to give a shout out to CAPITALISM and the American Dream!
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Old 11-30-2014, 10:12 PM   #271
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Yeah, there's gunna be no more 18 wheelers on the road if producing oil in the eagle ford isn't economically viable. Do you really believe this?

Do you really believe if the rig count gets cut in half, the same number of trucks will be working?

Just wait. If this keeps up you'll have an opportunity to see yard full of idle trucks sitting in major hubs all over the state. Plenty of us have seen it many times in the past. Everyone talks about the crash in the 80's, but there have been several since then, 3 since I've been in it.

Hopefully they're not charging near criminal mark up for their services though...
" in cahoots". LOL. It's called market pricing.

What exactly do you do for the frac company?

Last edited by kyle1974; 11-30-2014 at 10:24 PM..
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Old 11-30-2014, 10:41 PM   #272
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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.
Charlie I have been telling people the very same thing for a year now. All the local oilfield workers just laugh at me like they are protected. I guess they can't use common sense and understand that oil companies can't complete wells when oil is half price. Bless their hearts when it happens.
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Old 11-30-2014, 10:43 PM   #273
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Originally Posted by JMalin View Post
Falling prices are exactly what we need in order to fuel real economic growth.

I don't have a dog in this fight. I work in the oilfield but in a position that would be one of the last to be affected by the lower prices. With that being said this quote is laughable at best. Look back over history. As goes the oil and gas industry so does the economy. The last slow down was 2008, any coincidence the last market collapse was in line with it? I think not.

You also said that when the oilfield slows down you can just find something else. Ask all of those affected in the 80's and in 2008 how many jobs were available outside of the patch. You might be surprised and in for a rude awakening.
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Old 11-30-2014, 11:28 PM   #274
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Man I hope it doesn't get real bad like it could. We actually are as busy as ever right now and continue to get orders in. But they could change real fast. It also could affect us getting paid for parts that have already been shipped.
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Old 11-30-2014, 11:33 PM   #275
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Whew. Hard to keep up here. I'm a lawyer and am in the mortgage business - so I get paid a blend of neck up & nuts to knee. Accordingly, you'll have to forgive my lack of savvy with this energy stuff.

Now that RLB is back I still want to know how my royalties will be impacted. Moreover, since he got to "tell us so" on the efficient breach of his last contract - I feel compelled to ask who his company's legal counsel is. You see, I owned a part of several companies back a few years ago that did business with this company called Enron, and it seems that this Enron company still owes a bunch of money to those other companies I owned part of. Something to do with contracts and special purpose vehicles - don't think they had wheels though. Hoping maybe they could get that sorted out. I owned some other things that my broker sold me that were insured by this company called AIG. Oh, and something called structured products and principle protected notes that were put together by these brothers by the last name of Lehman.
I hadn't seen a dime from those boys in a good long while, and since your lawyers have been kicking butt and taking names of late I was hoping maybe they could help me out too - might need some of that money back if the oil checks keep getting smaller every month.

Appreciate it.


Oh, and anybody seen Burnadell?
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Old 11-30-2014, 11:49 PM   #276
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Whew. Hard to keep up here. I'm a lawyer and am in the mortgage business - so I get paid a blend of neck up & nuts to knee. Accordingly, you'll have to forgive my lack of savvy with this energy stuff.

Now that RLB is back I still want to know how my royalties will be impacted. Moreover, since he got to "tell us so" on the efficient breach of his last contract - I feel compelled to ask who his company's legal counsel is. You see, I owned a part of several companies back a few years ago that did business with this company called Enron, and it seems that this Enron company still owes a bunch of money to those other companies I owned part of. Something to do with contracts and special purpose vehicles - don't think they had wheels though. Hoping maybe they could get that sorted out. I owned some other things that my broker sold me that were insured by this company called AIG. Oh, and something called structured products and principle protected notes that were put together by these brothers by the last name of Lehman.
I hadn't seen a dime from those boys in a good long while, and since your lawyers have been kicking butt and taking names of late I was hoping maybe they could help me out too - might need some of that money back if the oil checks keep getting smaller every month.

Appreciate it.


Oh, and anybody seen Burnadell?

For the win.....


My Uncle retired and gave Lehman brothers 10 million and lost it all within a week. I saw him at my grandmothers funeral and he had a custom Breitling watch on that F L B on the face of it. I'm sure you can figure it out.

He hasn't seen much out of them either but he keeps hoping that Bernie Madoch will bail them out.
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Old 11-30-2014, 11:56 PM   #277
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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.
Solyndra????

sorry, couldn't resist...well we did send millions there and by we, I mean this administration
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Old 11-30-2014, 11:58 PM   #278
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solyndra????

Sorry, couldn't resist...well we did send billions there and by we, i mean this administration

fify!!!
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Old 12-01-2014, 12:09 AM   #279
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Solyndra????

sorry, couldn't resist...well we did send millions there and by we, I mean this administration
well, we've sent BILLIONS to other green/alternative energy companies, but for solyndra I think it was a bit over 1/2 Billion...

Needless to say, if your gonna do it, go big!!!!

I love the fact how the anti-petroleum groups bark about oil being bad and how we need green cars, but they dang sure wouldn't give up there petroleum based smartphone components, cosmetics, furniture, car parts, and the list goes on and on and on
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Old 12-01-2014, 12:11 AM   #280
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well, we've sent BILLIONS to other green/alternative energy companies, but for solyndra I think it was a bit over 1/2 Billion...

Needless to say, if your gonna do it, go big!!!!

I love the fact how the anti-petroleum groups bark about oil being bad and how we need green cars, but they dang sure wouldn't give up there petroleum based smartphone components, cosmetics, furniture, car parts, and the list goes on and on and on
It would have been more had it not been for that datgum "Cash For Clunkers" program.
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Old 12-01-2014, 12:59 AM   #281
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Originally Posted by kyle1974 View Post
Do you realize to tout "growth" in a given industry the same industry can't crash that grows?

If the oilfield crashes, trucking will crash.

Maybe the guys and trucks that lost work might start hauling something else, But it will be items that have tight profit margins and will not be getting premium rates like they are right now in the oilfield.
That is not a "crash". It is called Supply and Demand. Just because they won't be getting "premium" rates does not mean it is a crash.
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Old 12-01-2014, 01:05 AM   #282
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I don't have a dog in this fight. I work in the oilfield but in a position that would be one of the last to be affected by the lower prices. With that being said this quote is laughable at best. Look back over history. As goes the oil and gas industry so does the economy. The last slow down was 2008, any coincidence the last market collapse was in line with it? I think not.

You also said that when the oilfield slows down you can just find something else. Ask all of those affected in the 80's and in 2008 how many jobs were available outside of the patch. You might be surprised and in for a rude awakening.
The slow down in 2008 had absolutely ZERO to do with oil. Oil prices fell because of a World wide recession which mainly had to do with bad loans. Not the other way around. "Oil does not control the economy but the economy can control oil".
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Old 12-01-2014, 05:27 AM   #283
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The slow down in 2008 had absolutely ZERO to do with oil. Oil prices fell because of a World wide recession which mainly had to do with bad loans. Not the other way around.

"Oil does not control the economy but the economy can control oil".
LOL.... keep um coming...
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Old 12-01-2014, 05:43 AM   #284
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Originally Posted by Death Dealer View Post
I don't have a dog in this fight. I work in the oilfield but in a position that would be one of the last to be affected by the lower prices. With that being said this quote is laughable at best. Look back over history. As goes the oil and gas industry so does the economy. The last slow down was 2008, any coincidence the last market collapse was in line with it? I think not.

You also said that when the oilfield slows down you can just find something else. Ask all of those affected in the 80's and in 2008 how many jobs were available outside of the patch. You might be surprised and in for a rude awakening.

Really
You think the 2008 collapse was about oil?
You don't think other things were on a huge down turn late 2007 early 2008 to contribute to the falling oil prices? I can assure you it had very little to do with oil.
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Old 12-01-2014, 06:44 AM   #285
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In 2007, 2008 there were not near as many rigs drilling oil in Texas. Most were natural gas. The economy was tanking, demand for gas was decreasing and the bottom just fell out. It seems the price was up to $10-$12 per MCF, and once it got below $5, the rigs started dropping. I was in east Texas at the time and there were around 400 in etx and north LA. It's still slow up there and has never really did recover.
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Old 12-01-2014, 06:53 AM   #286
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.
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Old 12-01-2014, 11:34 AM   #287
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I hate to have to say it but I agree with you on this and I actually think it will force them to trim the fat. As long as that's all they have to do many will keep working and at the worst take a little pay cut.
But this thread isn't about oil going from 120 to 75 so oil companies stay in business and trim fat. It's about oil going from 120 to 30 and the boom going bye-bye.
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Old 12-01-2014, 11:42 AM   #288
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LOL.... keep um coming...
I did a bad job of conveying my point above. Oil prices almost always decline during a recession because of decreased economy activity. Oil price declines that happen outside a recession, have never triggered a recession.

On the other hand, sharp increases in oil prices are very much associated with causing recessions.
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Old 12-01-2014, 11:56 AM   #289
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http://www.telegraph.co.uk/finance/o...e-crashes.html

This article pretty much sums up what I think is going to happen ( as I stated in, I believe, the other oil thread ). I think this downturn will make us stronger and more efficient, which is better for our industry long term. The Saudis are underestimating us. Now all we have to do is keep our own govt from screwing something up....
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Old 12-01-2014, 12:48 PM   #290
big w
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The problem with is our governments track record
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Old 12-01-2014, 01:46 PM   #291
JW
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I've been wanting another diesel.

Yep. Good time to buy one already lifted then. I gotta 3 year tank project about to start and then waaaaay to dang much pipeline lined up.
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Old 12-01-2014, 01:57 PM   #292
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But this thread isn't about oil going from 120 to 75 so oil companies stay in business and trim fat. It's about oil going from 120 to 30 and the boom going bye-bye.
Oil went from $135 in mid-2008 down to $30 in early 2009. It was back up to $75-80 by the end of 2009.

Then the boom started.
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Old 12-01-2014, 02:01 PM   #293
asttbe
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Default Hey Oilfield Guys!!

Our company started cutting costs last month in expectations of the downturn

In fact this is copied right out of the email.

"and a forecasted down turn within our industry"

Last edited by asttbe; 12-01-2014 at 02:05 PM..
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Old 12-01-2014, 02:17 PM   #294
ladrones
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http://fuelfix.com/blog/2014/12/01/t...er-data-shows/
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Old 12-01-2014, 02:19 PM   #295
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Falling prices are exactly what we need in order to fuel real economic growth.
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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?
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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.
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It's not just what workers are being paid to sit around doing not much of anything. I've seen what we bill for the chemicals used on these jobs and know what they cost us. I don't know how we got any work charging what we did. It's like the whole frac service side is in cahoots. Wireline is a different story. It's cut throat out here.
WOW!!!! I had a lot more to say but chose the back button instead!!

Some liberal college professor has done work on you son!!!
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Old 12-01-2014, 02:20 PM   #296
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Quote:
Originally Posted by miket View Post
http://www.telegraph.co.uk/finance/o...e-crashes.html

This article pretty much sums up what I think is going to happen ( as I stated in, I believe, the other oil thread ). I think this downturn will make us stronger and more efficient, which is better for our industry long term. The Saudis are underestimating us. Now all we have to do is keep our own govt from screwing something up....
I agree with you here. I think the Saudi's are going to find out our resolve runs much deeper than they give us credit for (maybe because they are thinking Obama is representative of most American's). Crude is back up $3/bbl to 69.12 at the moment, so that's telling me in the absence of any further manipulations, the market is showing them that resolve right now.
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Old 12-01-2014, 02:21 PM   #297
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I believe this is common this time of year...........

Someone correct me if I'm wrong...
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Old 12-01-2014, 02:27 PM   #298
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Quote:
Originally Posted by miket View Post
http://www.telegraph.co.uk/finance/o...e-crashes.html

This article pretty much sums up what I think is going to happen ( as I stated in, I believe, the other oil thread ). I think this downturn will make us stronger and more efficient, which is better for our industry long term. The Saudis are underestimating us. Now all we have to do is keep our own govt from screwing something up....
If the US producers can bring cost down to what that article states, we would own the world. Russia, Iran, and many other OPEC would be broke, were they need to be. Most all sectors of our economy would soar. It would be amazing. I hope you are both right.
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Old 12-01-2014, 02:28 PM   #299
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Let me try to explain this in layman's terms.

See we get all this money infused into Texas and other oil producing states. A lot of that money comes front them eco freaks in California and them yankees up east when they gas up the prius. The more money we can suck out of them suckers the better it is for our local economy. Kinda like a democrat with their redistribution of wealth. Mineral owners and oil companies spend money like drunken sailors on leave. We take their money and redistribute it to everybody down here. Like it or not oil makes Texas turn. If you don't benefit from higher oil prices blame yourself.
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Old 12-01-2014, 02:35 PM   #300
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WOW!!!! I had a lot more to say but chose the back button instead!!

Some liberal college professor has done work on you son!!!
HAHAHAHA!!!! Greatness right there!!!!
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