Hey Oilfield Guys!!

[denowt]

I see no problem with capitalizing on it when you can. Your post wasn't really in question it was the other persons post that came off as happy about it headed that way. I know some will benefit and some be happy about this and those are the people that shouldn't be posting here not you. This is about to hit home hard for a few members and some may lose their possessions so I only ask it to please not be on a thread these guys read daily. It may not seem like rubbing it in but it seems like that to they guy losing stuff. Again this was never over your posts to begin with.

No worries.
I was trying to be a sensitive as I could while still being realistic.
I'm glad you understood my point/opinion.

I'll agree with you, no one should "enjoy" another's misfortune.
I'm not happy that there may be a flood of late model trucks on the market causing below market pricing because people lost their jobs, but I'm not going to feel guilty if I purchase one of them either.

[gingib]

on the bright side, should be a lot of used f-350s on the market.

Sad but true!

[gingib]

One thing I've learned from internet forums

People don't like you to talk about how well things are going, like how much money your making at a good job in the oilfield

But those same people cant wait to tell you how bad things are going to be when that high paying job is in trouble

Just human nature for most, I guess

ooooo so true! Can't stand to hear it

[Muddman]

I saw what happened in the 80' and then again in 1994. I was working in Midland in 1994 and transferred to the international pool. There was 20 guys working when I left on my first overseas hitch. When I got home they had laid off 15 people, those guys never came back. I hate seeing this happen again.

[RiverRat1]

The point that I got out of the OP was to warn guys to prepare for the worst, no matter what industry you work in, but especially in a volatile industry such as O/G. Maybe I misunderstood the original point though.

As far as the support goes, everyone has to lie in the bed they made.
If you choose to work in a volatile industry, and decide to not squirrel away money for the next bust, then that is on you for making poor decisions with your life.
Same thing if someone builds a house 20' from a river bank and doesn't purchase flood insurance. It's not my problem that you made those poor decisions.
That being said, most people don't want anyone to experience misfortune even if it was through poor choices made.

Most people do not want bad things to happen to others.
But some of us realize that bad things will happen and are prepared to benefit from it.
I bought my used F250 when the last oil bust was just starting to boom again.
Had I been better prepared financially, I probably could have saved myself a few more thousand by purchasing one a year or so earlier when the prices hit rock bottom because the market was flooded with late model diesel trucks.
I bought my truck after the prices started going back up because I was not financially prepared to purchase one at the prime time.

That doesn't mean I want anyone to lose their job or experience any misfortune.

I'd much rather they keep their job so they can continue to pay for their new truck and I can keep on driving my paid off 13 year old truck.
But if the conditions are right, I will not hesitate to upgrade my ride with a late model, recently repo'd truck.

I think we understand this. I'm referring to the posts like "I can't wait to buy a cheap truck" etc. It's plain rude to wish bad luck on someone so you can get a good deal. Yes, the guy who built his house on the river was dumb but you shouldn't sit and cheer for the water to rise.

[RiverRat1]

I understand your point and hope that you and others will not lose your jobs.
But you are sort of helping with my point.
How does that lifted truck that you now don't care about help your family?

And this is not directed at you directly, it's just what I have witnessed firsthand from some people in the O/G industry.
When oil is high and money is being thrown in every direction, the workers are blowing money left and right on new trucks, boats, toys, etc.
Often making fun of and/or looking down on us "low-payed, lazy butts" who can't handle oil field work, driving around your 10+ year old truck.
Yes, I have had classmates/acquaintances tell me those exact things while they were working rigs and I was drudging along often making half of what they were making.
Meanwhile, I was busy saving as much as I could, while paying off the few loans I had for a moderate house and an older truck.
Now, I've got a decent amount in savings, a decent sized 401K, a paid off house, and a paid off truck.
In the last 12 months, I've bought an old flatbottom river boat for $1500, an old Jeep CJ7 for $5500, a brand new Maxey trailer for $6500, and a 2004 Nissan Titan for my 16yo son to drive for $4000. All were paid in cash because I've been saving for several years and not blowing it on every new toy I wanted.
The newest thing I own, other than the trailer, is 11 years old and it has 170,*** miles on it.
But I also don't owe one penny in loans at this time.
Go ask my old classmates/acquaintances who were blowing their money on toys how they're doing now and see if they'd like to trade places with me now.

Why would they be any better off if they traded places with you? Do you think if they made less money they would have saved more?

[1369]

Interesting read on the projected impact of falling oil prices here in Texas.

I found this part really interesting:

In the broader Texas economy, Fitch believes increased consumer spending from lower fuel prices should help offset the expected decline in oil and gas related tax revenues. Also, the size and diversity of the state's economy insulates the state's finances from a contraction in the oil and gas sector, which plays a notably smaller role in the Texas economy than in the past. Likewise, Houston's economy has diversified over the past several decades to such a degree that the impact from an oil and gas contraction -- while not immaterial -- should be manageable. Houston's expansive petrochemical sector should benefit from lower energy prices, providing an additional economic buffer. Other petrochemical centers in the state (Beaumont/Port Arthur and Corpus Christi) also should benefit.

[denowt]

Why would they be any better off if they traded places with you? Do you think if they made less money they would have saved more?

True, but I meant trading places completely, including saving habits.

And that's been part of my point in all of my posts in this thread.
Some people will make bad decisions no matter what their job is or how much it pays.
It's just easier to see the results in the O/G industry because of the sheer volume of people it employs during the boom cycle, and because it always has a bust cycle at some point.
It's a simple numbers game.

[gingib]

Do you think if they made less money they would have saved more?

Heck no! They are clueless and have never known the value of a $1 because its spent before it gets to savings...wait nevermind they don't know what a savings account is

[bloodtrailer28]

Interesting read on the projected impact of falling oil prices here in Texas.

I found this part really interesting:

Down right amazing isnt it?! just like some of us have been saying the whole time only to be told we were idiots and wrong

[expressfish]

Down right amazing isnt it?! just like some of us have been saying the whole time only to be told we were idiots and wrong

double I read a rear window on the back of a truck the other day that said "if you aint oil field trash, you aint ****" I loll and shook my head.

[gingib]

double I read a rear window on the back of a truck the other day that said "if you aint oil field trash, you aint ****" I loll and shook my head.

Lol.. They think a 60-65k truck, debt out the WAZOO, and no savings/retirement is the only way to live!

Just living the dream....until they find a woman at 35 and they have no retirement or money to speak of

[coldgas]

In 2009 I lost my job. I had money in savings and still lost everything I had. I had a modest house that we owed about 50k and an 8 year old car. I dont believe in living above my means. Anyway, It took me a year to find decent employment. I worked every odd job I could find, worked out of town away from my family but mostly minimum wage work that barely kept the lights on and food in the fridge. The gas field finally opened up I I got a job where I could make ends meet. It sucks to be a middle aged man trying to reinvent himself. In many ways it was a blessing because I was forced to move back to my home town, but my wife hated it though she has now adjusted.

I say this just because you do not work in the field or your so much smarter than others because you saved money that you are above having problems. I was manager over a large trucking that was not oil related and when I had problems and it changed my family's life. Its easy for some of you to snub your nose at oil workers but I pray none of you end up in the position of losing a job and not being able to find one. "NO" job is secure no matter what industry you work in.
Im sorry but I dont understand the hate and disrespect some have towards another. Smh!

[BIGTERRY75]

Politics.

Sorry for you guys.

Billions saved means billions lost to a politician.

[doublearrow]

I keep reading this thread talking about oil field workers driving new f350s. Do they just drop them off at your house? Ive been in the oil field for 2 years and everytime i check the driveway its still the same 30 year old truck Ive had for 5 years. I must not have signed that form when i filled out pre employment forms. Who do i talk to about this?
I need to find out what you non oil and gas folks (not all, just the ones making snide remarks about cashing in on someones misfortune) do that drive trucks and cars made in the last 2 decades. You sound like you are overpaid and charging too much for your services or product. That way i can watch their market, hope it crashes, then I can buy one of them new fangled cars with electric locks and windows and stuff.
Ive got no problem with a man who likes cheap gas because its helping his family. What kind of man would he be if he didnt want better finances for his family? Ive also got no problem with a man who finds a deal on a used truck because of the lower oil prices. If it hits hard its probably going to happen. Its the folks on here who are looking hoping for the misfortune and making fun of the situation. Judging by this thread there are a FEW of you non o/g folks that have never made a bad business decision. You've also never got caught up in events and spent more than you should have. For your sake I hope it never happens, but if it does hopefully folks will show you the compassion you dont have and at least say a prayer for you.