Hey Oilfield Guys!!

[txjustin]

That was a direct quote from the article, not my add on to the article.

I didn't mean it in a snarky way, I am just trying to post relevant info/data in this thread for all the O&G workers.

[Texastaxi]

Looks like the steel industry is taking a hit as well.

http://247wallst.com/commodities-met...lity-closures/

No way. Oil and gas doesn't affect the rest of the world.

[panhandlehunter]

Looks like the steel industry is taking a hit as well.

http://247wallst.com/commodities-met...lity-closures/

The layoffs are taking place in a tubular testing and finishing facility in Houston, Texas and a manufacturing facility in Lorain, Ohio. The tubular products that are produced and tested by these facilities are associated with drilling and construction in the oil-and-gas industry.

[kyle1974]

The layoffs are taking place in a tubular testing and finishing facility in Houston, Texas and a manufacturing facility in Lorain, Ohio. The tubular products that are produced and tested by these facilities are associated with drilling and construction in the oil-and-gas industry.

so they're not really part of the steel industry then?

[JTeLarkin08]

Seems to me that when companies stop drilling the supply will go down.. When the supply goes down the price will go back up and then companies will start drilling again..

[oktx]

Mr Webster, it's "It's" not "It"....just sayin....

I have fat fingers and the iphone has small buttons. Mr. Rainbow calf tat.

[panhandlehunter]

so they're not really part of the steel industry then?

Yes they are, a division of the largest steel company in America. But that particular division is associated with O&G, so obviously they will struggle with low oil prices. Not the steel industry as a whole.

[Bily Lovec]

Yes they are, a division of the largest steel company in America. But that particular division is associated with O&G, so obviously they will struggle with low oil prices. Not the steel industry as a whole.

disagree.
chem plants & refineries put a lot of projects on hold when oil $ drops.
that adds up to a lot of steel, plates, concrete, pipe and equipment.

you can call that oil and gas, but the peripheral industries are endless.

[KHo]

so they're not really part of the steel industry then?

OCTG...similar news coming from Tenaris as well.

[panhandlehunter]

disagree.
chem plants & refineries put a lot of projects on hold when oil $ drops.
that adds up to a lot of steel, plates, concrete, pipe and equipment.

you can call that oil and gas, but the peripheral industries are endless.

I work in plants, and haven't seen any projects put on hold because of oil prices. Not saying it doesn't happen. When oil prices dropped in 2008-09 I was working in a ConocoPhillips refinery, on a large project. 2015 will be a very busy year for me.

Also, the US steel industry's biggest enemy is China, not low oil prices.

[LillDragun]

Great advice! But I would say that this should apply to most everybody.

[LillDragun]

especially me...bought a Hoyt Carbon Spyder 30 and only went into the **** store to "look" and "try" a few bows...how many people have those store trips. LOL!

[Bily Lovec]

I work in plants, and haven't seen any projects put on hold because of oil prices. Not saying it doesn't happen. When oil prices dropped in 2008-09 I was working in a ConocoPhillips refinery, on a large projects. 2015 will be a very busy year for me.

Also, the US steel industry's biggest enemy is China, not low oil prices.

Im saying it does happen.
I work in engineering and design of the plants,
so Im further away from it then you are.

A project you were working on in 08-09 was being developed the previous 3-4-5 years, low oil prices wouldnt effect it.

When a $3 billion project is shelved for a "year" because of low oil prices, you're scrambling to find positions for a couple of hundred people JUST in the office.

When a 30 month backlog suddenly disappears because refineries are huddled up doing only required EPA projects. I guess thats because of high beef prices ?

Where did I say O&G was US Steel's biggest enemy ?
you dont realize how many projects require domestic material only, its not just steel.

60% of jobs in Houston are related to the Energy Sector.

[panhandlehunter]

Im saying it does happen.
I work in engineering and design of the plants,
so Im further away from it then you are.

A project you were working on in 08-09 was being developed the previous 3-4-5 years, low oil prices wouldnt effect it.

When a $3 billion project is shelved for a "year" because of low oil prices, you're scrambling to find positions for a couple of hundred people JUST in the office.

When a 30 month backlog suddenly disappears because refineries are huddled up doing only required EPA projects. I guess thats because of high beef prices ?

Where did I say O&G was US Steel's biggest enemy ?
you dont realize how many projects require domestic material only, its not just steel.

60% of jobs in Houston are related to the Energy Sector.

I know it can and does happen, I just haven't personally been affected by it, and quite frankly, won't be. I went to school for a little bit to be a designer, but decided it wasn't for me. Lol. I know our area of Texas, and a lot of Texas are tied to the energy sector. And it sucks for those people right now. I don't want to see anybody laid off and out of work. But it's all a part of the game. You just have to hold on and hope for the best.

[duckmanep]

Commodities go up, commodities go down.
When prices of a commodity are high, one industry will thrive, another will suffer.
When prices of a commodity are low, one industry will thrive, another will suffer.

IMO lower oil prices are a symptom of a weakening economy, not the cause.