Oilfield guys... y’all hangin in there?

[Seatruckn]

**** shame. Seems offshore was just starting to pick back up too.

[SmallTownHunter]

I have already received 3 calls this week from guys wanting to sell either their entire fleet of equipment or a big chunk of it. Going to be a lot of late model Cat gear on the market soon!

[Take Dead Aim]

Energy, Energy, Energy!

What are my thoughts? Well... if shale goes away we need the foreigners again. You haven't seen high prices until you NEED oil from them. $4.00 gas will happen. On the flip side all the "fracking police" will be thrilled because they want electric cars and solar panels anyway. The trick about that is we don't make a single battery in this country. They come from the Chinese. So you will need the Saudis for your oil and the Chinese for your batteries. Good luck with that!

The simple truth is we need balance. The government needs to step in and set up protections for the oil and gas industry like they did for the automotive industry. We need a $40 per barrel protection. 6 million people work in oil and gas in this country and I promise you all those jobs pay good money. Simply put we can afford $2.50 a gallon but we can not afford $1.25 per gallon.

Use facts not false fears to make your point. I'm not disagreeing that something should possibly be put in place but I do have some points to make. I do think if you are going to layout a plan you should do some research first. If not you sound ignorant and the rest of your argument falls by the wayside.

The fifth largest batter factory in the World is Teslas Gigafactory right here in the USA. There are too many US manufacturers of batteries to count. The issue green energy has with low oil prices it makes green energy that much more expensive comparably. Less people want to buy a Tesla when gas is $1.25.

On to your point that 6MM people work in OG and all those jobs pay good. I'm not sure if you were trying to say that since 6MM people work in OG and all those jobs pay well so we can all afford higher gas prices? If so, that is only 3% of the workforce. What about the other 97% that doesnt get paid by OG yet will be paying the higher prices at the pump. That may not have been your point so if it wasn't please ignore that part.

Again I'm not saying the govt shouldn't step in I'd just like to here a plan as to how and what they would do. Oil is a commodity and inhave always felt commodities are at the whim of the people. Supply and demand. That said govt has parachutes for farmers but I'm not sure if those subsidies are to pay the farmer for his losses or to keep a crops price above "x". That is not a market I know well enough to speak on.

[GA Bowhunter]

Everyone(conservatives) hate big government until their own pocket book is affected.

"The government step in...".

I'm against any bailouts(I didn't get a bailout when residential construction collapsed in 2008 and I owed the banks $$ millions. I didn't want a bailout either).

I'm against farm subsidies, flood subsidies, wildfire subsidies ect.

Unfortunately, energy is a matter of national security. Maybe we need state owned O&NG. The long term outlook for the O&NG sector is not good at any rate. Once the liberal socialists get into power with their climate change agenda that days of gasoline and diesel powered vehicles are numbered. I'd guess in 20 years gasoline and diesel powered transportation will be a thing of the past in the USA.

[txwhitetail]

We received our first letter from a customer asking us to drop prices! Sometimes being in the services business you just don't know whether to duck or dodge!

You can bet your azz everything under the sun will be rebid or at a minimum price concessions asked for. There are service companies already going to all out survival mode and pricing at break even.


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[sharpstick35]

I've learned a lot growing up in the oil patch. learning to not live beyond your means was the most important lesson. I was able to ride out the last 2 big downturns and use it to my advantage. having no debt is the key to thriving out here in west Texas, then you can survive a drop in hours and pay. then you are on top when it picks back up again.

[Rubi513]

I've learned a lot growing up in the oil patch. learning to not live beyond your means was the most important lesson. I was able to ride out the last 2 big downturns and use it to my advantage. having no debt is the key to thriving out here in west Texas, then you can survive a drop in hours and pay. then you are on top when it picks back up again.

This is true for every career.

I drive 200-250 miles daily, sometimes more. So, I am doing my part.

Hang in there fellas!

[PondPopper]

I've learned a lot growing up in the oil patch. learning to not live beyond your means was the most important lesson. I was able to ride out the last 2 big downturns and use it to my advantage. having no debt is the key to thriving out here in west Texas, then you can survive a drop in hours and pay. then you are on top when it picks back up again.

Yep.. Its one of the most important things a parent can teach his children no matter their career path.. Not THE most important but in the top 3 for sure..

[ktex]

Due to recent events I think we might be headed more towards deglobalization (as a whole, not just oil). For those knowledgeable about oil on a global scale...what in your opinon would happen if we only driiled/produced for the US only? I know it's not that simple or completely probable, but I'm just curious.

[sharpstick35]

there would be a 3-5 year lag while we retooled the refineries to be compatible with our own oil.

[ktex]

there would be a 3-5 year lag while we retooled the refineries to be compatible with our own oil.

Excuse my ignorance. So are you saying all of the oil we use in the US comes from somewhere else and all of the oil we produce goes outside the US?

[SaltwaterSlick]

Excuse my ignorance. So are you saying all of the oil we use in the US comes from somewhere else and all of the oil we produce goes outside the US?

That is pretty much the case... That is also why the Keystone pipeline was so important. Our refineries are designed to refine the dirtier oil like Western Canada has.

[Burnadell]

This article is a pretty good explanation of the differentiation of crude and refining and why we still export AND import crude:

https://www.api.org/news-policy-and-issues/blog/2018/06/14/why-the-us-must-import-and-export-oil

[jaime1982]

Yes we need the govt in the oil biz........ wow

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[roughneck266]

Well, my company has put us on 6 week hitches till this is over. No complaints from me. I am happy to still be workin.