Oil prices
#1
Oil prices
As many if you know I work in the oilfield. So yes these plunging prices have had an immediate impact on a lot of us down here. I kept saying this would not be good in the long run and many kept saying I was crazy this can only be good.
Read ahead see if this is still good.
http://www.businessinsider.com/opec-...-barrel-2015-1
Read ahead see if this is still good.
http://www.businessinsider.com/opec-...-barrel-2015-1
#3
Registered
when I'm filling my boat this summer,,I'll reflect,when it sucked,,, when oil was high.I may have to build new engines,,just to use more gas.
#5
Platinum Member
Platinum Member
iTrader: (2)
Propaganda. OPEC is no longer relevant.
A good article from December:
http://theconversation.com/opec-v-oi...ts-power-34923
A good article from December:
http://theconversation.com/opec-v-oi...ts-power-34923
#8
Registered
The oil industry is like any other, its simply supply and demand, where I live it's wheat, apples, cherries, or whatever, the market will set the price. Over production or under supply will cause wild swings in prices. Believe me I've lived it! When meryl streep made her rant about alar in the 80s it decimated the economy of our town and bankrupted many not so small companies. Not saying its good, but it's the new reality and be ready or beware.
#9
No doubt. I'm prepared. Oilfield is a roller coaster. The downturns still suck. It will come back and be stronger than before until it plummets again. Many who work down here live at or above their means. I don't. So barring layoffs which have already happened to more than 20,000+ people I can survive a paycut which has happened to countless more. However I need it booming again so I can buy my damn boat. Lol.
I know it will come back strong. I was pretty happy at $100 a barrel. I fret for everyone else it will go much higher because of what that article explains. Everything brought to halt on drilling means when demand picks back up supply will be more limited. That will drive the price even higher.
I know it will come back strong. I was pretty happy at $100 a barrel. I fret for everyone else it will go much higher because of what that article explains. Everything brought to halt on drilling means when demand picks back up supply will be more limited. That will drive the price even higher.