Oil at 6-year low, but OPEC keeps pumping more (GGT)

[Reeve]

/sadface

This makes my life so much more difficult.

[Deleted]

/sadface

This makes my life so much more difficult.

But you are ebul oil person

[lockedout]

/sadface

This makes my life so much more difficult.

We will always need oil, you need not fret. Unless you're thinking layoffs? If that's the case I am sorry.

[Reeve]

They're trying to kill the American oil-pumping industry.

Not really possible in any sort of long term sense. Even if you ended up curtailing US production massively, once the price came back up, it'd be a matter of a year or two before the U.S. Fields were producing as much as ever.

[Deleted]

Bush 2016? I mean that would make your outlook so much better :>

[Reeve]

We will always need oil, you need not fret. Unless you're thinking layoffs? If that's the case I am sorry.

We will always need oil, but if exploration drops off precipitously, we don't need so many seismic contractors. And there are plenty of cut-rate companies out there eager to take our business. In good times, oil companies want contractors with good health, safety, environmental, and quality records. When the margin they'll get on the oil has eroded this much, they'll take the cheapest outfit they can get. That often means the Chinese (BGP), who are happy to do work at a loss, because their government will make them whole as part of a wider strategy for their major oil companies. Or it'll be some guy who has a one room office in some hotel, but can rent the equipment.

Either way, the quality companies like mine suffer. We've already had a lot of layoffs. While my job is pretty safe (I'm getting promoted actually), it's not if the whole company ends up going under.

[lockedout]

That often means the Chinese (BGP),

Trump will take care of the Chinese! In all seriousness though that sucks for someone in your line of work.

[Tierbook]

Did the big companies ever finish that survey of the East Coast fields now that they are open for drilling? How much is out there anyway?

[Reeve]

Trump will take care of the Chinese! In all seriousness though that sucks for someone in your line of work.

Well, even if my company went under, I have a strong enough skill set that I could find a job in any number of industries. I just like that I've built a position in my company where people trust me. The C-suite calls me late at night to ask my input on strategic decisions (happened tonight actually), and I like a lot of my coworkers. Aside from being overworked, I'm pretty happy with what I do.

[Deleted]

Trump will take care of the Chinese! In all seriousness though that sucks for someone in your line of work.

If a republican candidate shits on Iran treatys magical trevor there is the only person who can rejoice :X
No offense what is bad for him is mostly good for everybody else.

[Tierbook]

We will always need oil, but if exploration drops off precipitously, we don't need so many seismic contractors. And there are plenty of cut-rate companies out there eager to take our business. In good times, oil companies want contractors with good health, safety, environmental, and quality records. When the margin they'll get on the oil has eroded this much, they'll take the cheapest outfit they can get. That often means the Chinese (BGP), who are happy to do work at a loss, because their government will make them whole as part of a wider strategy for their major oil companies. Or it'll be some guy who has a one room office in some hotel, but can rent the equipment.

Either way, the quality companies like mine suffer. We've already had a lot of layoffs. While my job is pretty safe (I'm getting promoted actually), it's not if the whole company ends up going under.

I imagine at this point even the Chinese companies are cutting the fat given the direction of their economy

[Ripster42]

incoming angry cybran and whats that other russian posters name with that really grim looking avatar?

Elim Garak or something. And the russia thread isn't really going that strong these days so I'm not sure if crybran will be back.

[lockedout]

Well, even if my company went under, I have a strong enough skill set that I could find a job in any number of industries. I just like that I've built a position in my company where people trust me. The C-suite calls me late at night to ask my input on strategic decisions (happened tonight actually), and I like a lot of my coworkers. Aside from being overworked, I'm pretty happy with what I do.

I'm sure do you pretty good $ wise in that "field" (no pun intended) of work.

[Reeve]

I'm sure do you pretty good $ wise in that "field" (no pun intended) of work.

I do reasonably well for my age, but nothing truly spectacular. I'm hoping with this promotion I'm about to get, I'll hit 6 figures, though.

[xenogear3]

The same reason you sell the stock when it drops.

They know it is not gonna go back to $100.
Sell Sell Sell

[Tierbook]

The same reason you sell the stock when it drops.

They know it is not gonna go back to $100.
Sell Sell Sell

It's unlikely to ever hit 100$ again. Unless of course some of the big exporters go defunct

[Nadiru]

I do reasonably well for my age, but nothing truly spectacular. I'm hoping with this promotion I'm about to get, I'll hit 6 figures, though.

Net or gross?

[breadisfunny]

Elim Garak or something. And the russia thread isn't really going that strong these days so I'm not sure if crybran will be back.

no not him some guy named haven i think.

[Reeve]

Net or gross?

Gross. I don't think most people relate their salaries net of taxes, at least here in the US.

[Zomis]

US Prices are about to shoot up, because <insert excuse here>