Pre-Katrina prices at the pump

yea everyone see low gas and thinks great but don't think about the fact that this is oil area and it effects the economy would rather pay twice as much for gas and have four times the work then have cheap gas and no work Originally Posted by ironman68

You and me both, brother. This no overtime is annihilating my hobby life.

yea everyone see low gas and thinks great but don't think about the fact that this is oil area and it effects the economy would rather pay twice as much for gas and have four times the work then have cheap gas and no work Originally Posted by ironman68

I've been wondering and worrying about how the super-low gas prices would affect the economy in Texas and Louisiana. I would much rather go back to paying $4 a gallon than have to worry about how I'm going to pay my bills in the long run.

..... I would much rather go back to paying $4 a gallon than have to worry about how I'm going to pay my bills in the long run. Originally Posted by 1ThickBlond

yup

Rigs are already being stacked, cold stacked. Halliburton and Schlumberger have each announced thousands of layoffs.

Since oil wells are financed, even by the big boys, Indie oil companies are going to go bankrupt if this keeps up for long. Those tight shale wells are at least double the cost to drill as a conventional one.

That's exactly what happened in the mid 80's and many people went broke in Louisiana, especially along Hwy 90 from Laffy to Westbank.

Everyone over 40 from here should remember how bad it was from 84 to 90.

This won't last forever, the whole problem is caused by the Saudis, who refuse to "stabilize" the price of oil. Their theory is ... they kill off US shale oil AND punish the Russians for intervening in Syria by simply flooding the market for oil.

I DO like what it's dong to the Russians. Pooting can't survive on $40 / barrel oil so FUCK HIM IN THE ASS!

And Saudi's can't KIL shale oil. They can "shelf" it for awhile - but eventually the low prices hurt Saudi too and they have to jack the prices again.

This won't last forever, the whole problem is caused by the Saudis, who refuse to "stabilize" the price of oil. Their theory is ... they kill off US shale oil AND punish the Russians for intervening in Syria by simply flooding the market for oil.

I DO like what it's dong to the Russians. Pooting can't survive on $40 / barrel oil so FUCK HIM IN THE ASS!

And Saudi's can't KIL shale oil. They can "shelf" it for awhile - but eventually the low prices hurt Saudi too and they have to jack the prices again. Originally Posted by Arverni

This is it, Arverni, nail on the head babe. Intentional ruble crash! OPEC (Saudis). Shale does cost more to produce. The oils companies have had "record high" profits for years, more than they have ever made. I don't see it as dooms day. The most simple law of physics. What goes up, must come down. The commodities market has been a roller coaster since its inception, and will Continue to be. So it was a bubble

I know its estimated to last into 2016, but this cycle needs to hurry up and end. A bunch of service supply vessels are currently warm stacked and it's affecting my work. This does not make an Old God happy.

Yeah, I talked to some Chouest guys ... the company is making a lot of cutbacks. They are probably better positioned to handle than most but even still will probably end up doing some layoffs.

I know it sucks. It's happened to me before ... but I just took it as an opportunity to go out and do something else. I came out MUCH better in the end.

Already has ended up with thousands of layoffs. Lafayette is getting slammed hard.

Already has ended up with thousands of layoffs. Lafayette is getting slammed hard. Originally Posted by David-Louisiana

Not good news, i hope it levels out soon, rocky roads ahead for now it seems.