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Originally posted by Catarina View PostThe Saudi Arabian king died alittle earlier today....... what do you think that will do to oil prices tomorrow morning??
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Keeping the narrative dream alive, Treasury Secretary Lew told Bloomberg TV this morning that "lower energy prices are good for the US economy" - seemingly missing the huge surge in jobless claims, the lack of clear gains by firms on lower fuel costs, rig count collapsing, and homebuilder concerns in Shale states. But it was his follow up idiocy that sparked weakness:
*LEW SAYS HE DOESN'T EXPECT OIL PRODUCTION IN U.S. TO DECLINE
*LEW SAYS U.S. CRUDE PRODUCERS CAN HANDLE DECLINE IN OIL PRICES
The reaction - WTI broke quickly to a $45 handle on heavy volume. Perhaps Secretary Lew should tell the firms that are laying off 1000s how to do their jobs if he is so sure that "they can handle it."
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Originally posted by ladrones View PostKeeping the narrative dream alive, Treasury Secretary Lew told Bloomberg TV this morning that "lower energy prices are good for the US economy" - seemingly missing the huge surge in jobless claims, the lack of clear gains by firms on lower fuel costs, rig count collapsing, and homebuilder concerns in Shale states. But it was his follow up idiocy that sparked weakness:
*LEW SAYS HE DOESN'T EXPECT OIL PRODUCTION IN U.S. TO DECLINE
*LEW SAYS U.S. CRUDE PRODUCERS CAN HANDLE DECLINE IN OIL PRICES
The reaction - WTI broke quickly to a $45 handle on heavy volume. Perhaps Secretary Lew should tell the firms that are laying off 1000s how to do their jobs if he is so sure that "they can handle it."
http://www.zerohedge.com/news/2015-0...crude-producti
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I just jumped back over to a company I used to work for in their Turnaround Division. With the oil down a lot of Refineries have moved their T/A's. They got piles of work and I'm not gonna take a pay hit. I'll just keep on doing this till all this gets ironed out. Except I gotta shave. Sucks!!!!
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ALL companies lie...Period. They say what they think employees need to hear. They have to or moral drops, production drops, then things get even worse.
If you're in oil anything or in anything that supports oil and believe what you're being told, just be prepared for disappointment. The ripple wave will go on for a few more months IMO. Good luck to everyone.
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I posted in the classifieds also, but if anybody with some electrical experience needs a job I'm looking for some helpers. Got a bunch of work going this year. 60 hours for the next few weeks, 84 after that until August. Freeport, TX area. Pay between $20-$24 hr depending on experience. Chemical plant, no frc, no shave. Must pass a hair follicle.
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