Hey Oilfield Guys!!

[BrianL]

For the last time I will say....This thread started when gas was $2 or so...Not when it was $3.50 or higher. And NO ONE ever said consumers aren't saving lots of money FROM THE PEAK of gas prices to where they stand now. UNDERSTAND?

We're simply saying for the quazillionith time the comparison from $2 per gallon to current prices. Why can't you get this through your head? I don't think any O/G guy cared when people wanted gas to fall from $4 to $3..or $3 to $2.50...or even down to $2... It's when they get on here and want gas to keep tanking more and more and more even though they know (or are least informed but refuse to believe) that if oil goes lower thousands will lose their jobs, but they don't care.. They want to save another dollar or two...Thats where the saving $2 comes from... Get it?

Gas is still 1.97 here in Paris.

I still think they better figure out how to compete and profit at 45-60 dollar oil though.

[Bily Lovec]

Would it be possible for these oil field workers to cut their pay and save jobs?
So instead of making $30 per hour, reduce their wages to $20 per hour until oil goes back above $80 / bbl.

Why does it have to be all or nothing in the oil field?

you have to be billable.
the client is charged $xx per hour for you.
if there is no client, you're not billable.
These jobs aren't overhead jobs.

wages are a small % of the total cost of the process.
you couldn't lower the price enough to make a difference.
plus, $ 20 per hour its not attractive enough to do the work.
the guy may have left a $20 job to go to the patch...

[bloodtrailer28]

I remember a while back when oil was through the roof you were wanting prices to go higher so you could make more money.


Exactly. Now we have to listen to more of his BS.


Lord
That is funny coming from you

.

[texansfan]

Gas is still 1.97 here in Paris.

I paid 1.75 off 1960 last week but 1.99 in the woodlands this morning

[Muddy Bud]

I have been trying to stay out of this thread but some of the opinions/mind sets of folks are driving me crazy. Started in O&G 18 months ago and have had the opportunity to make some decent money. We have payed our debts, saved some money, and spent probably more than we should. Bottom line is whether you make $8/hr or $80/hr our jobs are equally important in nearly every way. Our families rely on these wages for food, shelter, and clothing, education, and so on. Low gas prices are great for most, the energy sector is taking a hit now so for y'all that are not in the industry take advantage. Buy stocks, invest, save. As for those of us in the industry, I hope we saved enough and when prices go up we can either begin to or save/invest more. Every thing aside, all this bickering back and forth does us no good. Now, let's help one another out...post up help wanted/needed threads, investment opportunity threads, and get out of debt/savings threads.
God Bless our TBH family,
Chris

Very well put Chris. I have been through this before and it can get very scary. Luckily for me it has worked out, but I have seen alot of hands loose every thing from houses to wives over a slow down like this. Either way not a very good situation. Hope it passes quickly. Keep your heads up boys and stay afloat. It will get better.

[JMalin]

No one has demonstrated how falling prices aren't beneficial to the average saver/frugal person.

Lots of fear, greed, and envy on display. Harboring those feelings will take years off your life. Where's the love?

[bphillips]

This thread sure has come a long way since I started it haha.

Lots of obnoxious opinions from both sides have been rather entertaining. I will say when it's back a $100/bbl some guys will let the others have it big time. I just wish we could settle somewhere from $70-$80.

I know a few have already lost their jobs and I hope you're not the ones who thought I was crazy for starting this but I told you it would happen. I won't be like another poster and say I wont help someone in need just because their profession is O&G because someone in any industry should be prepared. Hopefully this doesn't hit to many other members too hard. Good luck fellas

[denowt]

plus, $ 20 per hour its not attractive enough to do the work.
the guy may have left a $20 job to go to the patch...

First off, I don't want anyone to lose their job, no matter what that job is.
That being said, many guys did exactly what you said.
They left a good paying job to chase after a higher paying oil field job.

The problem is, every one knows, or should know, that the oil field is, and always has been, an unstable industry.
There have been slow downs in the past, and you can bet there will be slow downs in the future.

I respect and appreciate everyone who works in the oil field.
It is a hard job that can be dangerous or even deadly.

But don't complain about work slowdowns/layoffs in an industry that you chose to go into, knowing that it was unstable, and it was almost a guarantee this downturn would occur at some point in the future.

Some, certainly not all, simply were chasing after the almighty dollar with no thought that it would not last forever.

I know if the oil prices fall much more, there will soon be a flood of 2-4 year trucks on every used car lot, just like there was several years after the last oil/gas bust.
People like me that stayed at those lower paying, but stable jobs and saved money will benefit from the lower prices on used trucks, boats, etc. when the market is flooded with repos, just like last time.

[BIG IRON]

This thread sure has come a long way since I started it haha.

Lots of obnoxious opinions from both sides have been rather entertaining. I will say when it's back a $100/bbl some guys will let the others have it big time. I just wish we could settle somewhere from $70-$80.

I know a few have already lost their jobs and I hope you're not the ones who thought I was crazy for starting this but I told you it would happen. I won't be like another poster and say I wont help someone in need just because their profession is O&G because someone in any industry should be prepared. Hopefully this doesn't hit to many other members too hard. Good luck fellas

What does $70-$80 pb = at the pump? It is still $2.10 here but I bet we break $2 per gallon pretty soon. I actually hope things have bottomed out but doubt it.

[oktx]

First off, I don't want anyone to lose their job, no matter what that job is.
That being said, many guys did exactly what you said.
They left a good paying job to chase after a higher paying oil field job.

The problem is, every one knows, or should know, that the oil field is, and always has been, an unstable industry.
There have been slow downs in the past, and you can bet there will be slow downs in the future.

I respect and appreciate everyone who works in the oil field.
It is a hard job that can be dangerous or even deadly.

But don't complain about work slowdowns/layoffs in an industry that you chose to go into, knowing that it was unstable, and it was almost a guarantee this downturn would occur at some point in the future.

Some, certainly not all, simply were chasing after the almighty dollar with no thought that it would not last forever.

I know if the oil prices fall much more, there will soon be a flood of 2-4 year trucks on every used car lot, just like there was several years after the last oil/gas bust.
People like me that stayed at those lower paying, but stable jobs and saved money will benefit from the lower prices on used trucks, boats, etc. when the market is flooded with repos, just like last time.

Not everyone in the field blew their money.

[txoutdoorsman24]

bphillips, you are totally correct. I too have watched this 'roller coaster of a thread' and I laugh to myself every time I see it has had a new post(s). Because I know nothing beneficial has been posted, usually just one man trying to belittle another man who is either for or against the O/G industry. For the record I am for it! I just like you and many others need this industry to hang on and pick back up. And just hopefully there will be a happy medium for everyone on this site and everyone other American to thrive and better themselves and our dadgum country.
I have enjoyed this thread because there are posts of valuable info and some not valuable. But I guess until everyone is satisfied, I will just sit back and enjoy the ride. Carry on fellas

[bphillips]

What does $70-$80 pb = at the pump? It is still $2.10 here but I bet we break $2 per gallon pretty soon. I actually hope things have bottomed out but doubt it.

Mid to high $2 range I think. We haven't seen the lowest gasoline prices yet. They lag behind oil a bit.

[OldRiverRat]

Better strap in and hold on its going to last a while, and just wait until the inflation from all the qe the govt did kicks in, that is something no one is talking about. The dollars you did save will be worth even less. We are in for some challenging times.

[OldRiverRat]

I've read reports that indicate production could actually increase from 14-16%. Lots of drilling companies are struggling to pay debt and with prices so low they have no option but to pump more bbls to generate cash which is going to just exacerbate the over supply issue. Of course they will only be able to do this for so long but how long??

[kyle1974]

42 gallons a barrel (not all 42 gallons is converted to gas), add in transportation, marketing/distribution, then stack on taxes... At $80 a barrel, I'd guess it would be in the $2.75 range, but how much are taxes going up?

With congress talking about increasing the tax on gas, no doubt to the the current low prices, it seems like some folks forget about who actually profits more for every gallon of gas sold in the US.

the other interesting point is the ban on the US being able to export oil may be lifted.