Hey Oilfield Guys!!

[deer farmer]

First off, I'm not wanting the bottom to fall out of O&G. I don't care one way or the other about gas prices or oil prices. I need gas, I buy it, doesn't matter what it costs, I need it. It's great that everybody is making money. But I promise you, the only way that a slow down will affect me is by saving me money on gas. Some people will have problems with a slow down because they put all their eggs in one basket. But you have to make money while it's there to be made. People who work in the oilfield should know what can happen and have a back up plan. Prices will come back up, probably sooner than later. The other thing is, a lot of people quit their jobs to go chase money in the oilfield. I was trying to hire people for several months and just couldn't find people.

You must not have any family or friends, or own any property. It will effect the majority of the people in Texas, Okla, and Louisiana along with several other states. And when you are looking for employees in the future are you going to pay a livable wage?

[ElCid07]

Sooo is there anyone hiring in the industry right now? I am getting back from a deployment and looking for work. Guess I timed it wrong from the sounds of it, haha.

[NeilC]

Sooo is there anyone hiring in the industry right now? I am getting back from a deployment and looking for work. Guess I timed it wrong from the sounds of it, haha.

I just received an offer letter from a company, for an entry level position, with a tentative start date of 12/15. I hope it comes through, but I haven't removed my resume from any of the recruiting sites. I'm trying to plan for either scenario. My timing could have been better, as well.

[oktx]

Sooo is there anyone hiring in the industry right now? I am getting back from a deployment and looking for work. Guess I timed it wrong from the sounds of it, haha.

Halliburton

[Hardware]

Bank stocks take ding from oil drop!!

http://www.marketwatch.com/story/texas-bank-stocks-dinged-by-drop-in-oil-prices-2014-12-03

Already effected another industry in Texas!

[deer farmer]

You must not have any family or friends, or own any property. It will effect the majority of the people in Texas, Okla, and Louisiana along with several other states. And when you are looking for employees in the future are you going to pay a livable wage?

Sorry, but was not trying to be a jerk ! I am saying if a bust was to come it would effect most everyone unless u work for the government. Not much effects them. If they lose sales tax they just raise taxes somewhere else.

[NeilC]

Halliburton

That's the company I was referencing in my post.

[Take Dead Aim]

I know you think we are just giving our own opinions but as you stated above history doesn't lie!!! My comment was only pertaining to the Texas economy and not the whole USA.

I lived through the 80's in Houston working as a Banker and can give you first hand accounts of how it effected Texas. People were walking away from homes because they owed more than the home was worth. People were on the street corners in suites begging for jobs. Several banks fell during this period, real estate markets collapsed, and construction came to an abrupt stop.

I hope I never see the downturn we had in the 80's again but with the idiots we have running this country it's probability is high!!!!

Crash in the 80's was Savings and Loans. Thank Carter for deregulating the S&L. Yes the oil market went with it but it was not a cause of the economy falling. When the economy goes South oil follows. That is the missing link everyone has trouble seeing. There has never been a US economic crash caused by oil prices dropping. Does it hurt specific areas sure. Will towns go by the waste-side again like they do every other time the price of oil has dropped to lows. Sure. They existence is based solely on a commodity and a highly volatile one at that.

If you look at the charts below you will see that when oil(in RED) rises to highs a recession/adjustment(GRAY) was soon to follow. Not the other way around. I will say it again. I don't want the bottom to fall out of oil. Nothing good comes from that. I have been stating that a drop in prices is not as bad as many have made it out to be. If the bottom does fall out there will be many that over extended themselves and will fall on hard times. That sucks. The current drop is personally costing me a decent amount on one side and saving me a little on the other. Fortunately I don't have to count on either of those to survive so is it bearable at the moment. All I was trying to do is give a more realist view of the landscape and not a sky is falling and Texas will become Detroit.

[panhandlehunter]

You must not have any family or friends, or own any property. It will effect the majority of the people in Texas, Okla, and Louisiana along with several other states. And when you are looking for employees in the future are you going to pay a livable wage?

Of course I have family and friends. And yes, I do own property as well. I was paying $30/hr and couldn't find anybody.

[Pedernal]

Not much research needed to know that if you stop such a big flow of money (salaries and in-turn money spent by those earning the salaries) not to mention all of the money spent by those companies on goods and services to operate it is going to hurt a lot. Prayers up that this is just a temporary slow down and not the start of a shutdown.

[Tbar]

This was posted on another site.......

Here is a graphic that shows what these governments need oil to be priced at to make their budgets work. The notion that Crude oil could fall all the way to ~$45 is not going to make the Saudis very popular.

Because the Ruble has fallen 30% and other similar situations around the world, I'd say the chance of another "world war" just went up about 100%. There is some desperation out there........

Producer Country Break Even Prices

Venezuela ~ $125.00pbl
Russia ~ $105.00pbl

[panhandlehunter]

Sorry, but was not trying to be a jerk ! I am saying if a bust was to come it would effect most everyone unless u work for the government. Not much effects them. If they lose sales tax they just raise taxes somewhere else.

It will affect people who directly or indirectly make a living in the oilfield. When it got slow in '08, I was fine. Look, I don't want anybody to lose their jobs, and I'm not saying that the oil industry is good for Texas. But what I am saying, is that if it went bust, not everybody is going to be jobless, or affected.

[oktx]

That's the company I was referencing in my post.

PM sent

[Hardware]

Crash in the 80's was Savings and Loans. Thank Carter for deregulating the S&L. Yes the oil market went with it but it was not a cause of the economy falling. When the economy goes South oil follows. That is the missing link everyone has trouble seeing. There has never been a US economic crash caused by oil prices dropping. Does it hurt specific areas sure. Will towns go by the waste-side again like they do every other time the price of oil has dropped to lows. Sure. They existence is based solely on a commodity and a highly volatile one at that.

If you look at the charts below you will see that when oil(in RED) rises to highs a recession/adjustment(GRAY) was soon to follow. Not the other way around. I will say it again. I don't want the bottom to fall out of oil. Nothing good comes from that. I have been stating that a drop in prices is not as bad as many have made it out to be. If the bottom does fall out there will be many that over extended themselves and will fall on hard times. That sucks. The current drop is personally costing me a decent amount on one side and saving me a little on the other. Fortunately I don't have to count on either of those to survive so is it bearable at the moment. All I was trying to do is give a more realist view of the landscape and not a sky is falling and Texas will become Detroit.

OK I give up oil has absolutely nothing to do with an economic downturn!!!!!

Just like fuel cost and food has nothing to do with inflation since the government doesn't include these figures when reporting inflation!!

[Take Dead Aim]

OK I give up oil has absolutely nothing to do with an economic downturn!!!!!

Just like fuel cost and food has nothing to do with inflation since the government doesn't include these figures when reporting inflation!!

Where did I saw that oil has absolutely nothing to do with a downtur . Reading comprehension is not the strong suit of a few on here. I said it is not the cause of the downturn. Like the last recession was caused by defaulting loans and a bunch of other poor practices. Oil had nothing to do with that downturn. It actually help Texas market take a smaller loss and brought us back faster.