And yall talk about people acing 30$ at the the pump causing someone to lose a job.
How about when it cost someone another 120$ ( 4 fill ups a month) and they have to decide ... Pay a bill or buy good with that, or invest in thier retirement or whatever else.
Now that hurts people too bc I as a consumer have less money to spend in local stores , invest in the market and save in my bank acct.

W ; Merry Christmas to you and your family!
I appreciate that you replied, I appreciate that you share your views from inside the eyes of an oil and gas worker.
But I want a real number. Not a best guess estimate. I have no ties to oil and gas, I know a lot about it Bc of my past, but I don't know 1/3 of what you do.

I just want to know how many people are directly tied and could be effected by the cut backs of oil companies due to the low oil / gas prices.

Well I can tell you this most middle class jobs are oil related in some way , from the tire man selling tires to the hot shot driver delivering cargo

There is a small amout of people who it does not effect like retail workers , government employes , teachers , fast food workers , Military and land scapers

But for the most part oil effect lots of jobs and not only in La and Texas but other places

Even the casinos are oil dependent

There are 50,455 public teachers in Louisiana as of October 1, 2014 ( that's when schools turn in enrollment and staff numbers)

64,669 workers were employed in the extraction, pipeline and refining industries in 2013 --- A number approximately equal to the 2012 population of Acadia Parish, the 18th most populous parish in the state.

Here is the link
http://www.lmoga.com/issues-initiatives/economic-impact

Here is a good read about how much money the oilfield makes Louisiana
http://www.houmatoday.com/article/20...0101/910299932

50,455 teachers are paid by who ??? Tax money revenue from oil industry

My wifes a school teacher in Desoto parrish, it is by far the "richest" school parrish, teacher get bonuses, pay is high teacher are on a waiting list to get in here, hell even the high school students are issued Ipads to replace books, and why? Hansville shale fracking tax revenue hell the local sheriff bought a helicopter for enforcment, CASH!

Your right , people forget how the oil field supports so much of the south in every kind of way possible

One is what you just posted !!!

Myself , I don't mind paying $3 a gallon

Seems like they shoulda been saving money for low oil prices instead of buyin iPads and helicopters.

I held off..... And you posted my exact thoughts.

I don't feel bad for mom and pop companies hat don't store funds for rainy days, you operate on the banks money then you fold when it hits the fan. Shame on ya! No different than regular folk living without an emergency fund.


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Oh I agree the iPads are a dumb idea but my point is the energy revenue is far reaching

Soo what about people who make a living off oilfield services like big hunting lodges and guides ??

How much money do you think they have saves up ? Enough to last how long ??

Short term is no big deal but long term will hurt way more than just mom and pop companies

Don't you work In the oil industry ??

Hotels could close down in small towns that support workers from out of town like places up north where the gas boom was creating thousands of jobs

If no jobs are there then everyone suffers from the gas station to the hotel workers

If you maintain your employees and payroll as a mom and pop driller with an emergency fund then the economic reach isn't as great as what you are picturing.

My competitor laid off dozens during our last economic downturn and we hired people... We didn't cut anything and were able to attack the market and scoop up where our competitors failed due to poor money management.


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Repost
 

Incase this was missed by some of yall!
Stop being narrow minded and selfish.

Talked to one of my customers Monday .He has been into oil futures BIG time for the last 20 years.
His opinion is that the US govt and the Saudis are in bed together to drive and keep prices down . And in his opinion we are not near the bottom. Just another way for our govt to kill the American economy and the American worker.

I will give you just a small example of how it hurts everyone, especially in a micro economy. I live in small town fifteen or so miles off the coast. There are two grocery stores in town. One one on each side of the tracks. The one on the poorer side of town, store A, is a little cheaper, the produce isn't as fresh, its noticeably smaller than store B. The average shopper at store A probably spends half of what the average shopper at store B spends. Well the owner of store A knows a few guys that work in the oilfield. Turns out platforms and drilling rigs need groceries. Well the owner of store A goes to the local Ford dealer and buys 3 econoline vans to start supplying rigs with groceries. He also hires 6 drivers. He gets these vans serviced at the local mechanic, buys tires at the local tire shop. He starts generating more revenue. Builds a a convenience store with gas pumps out in front of the main store. Hires some more cashiers for that store. All of a sudden 15 or so people that didn't have jobs are employed. They are able to afford repairs to their cars or homes that they previously could not. They hire handy men or carpenters who buy supplies at the local lumber yard. The cycle is endless. Its not just the guys working 14 and 14 that are dependent on the oilfield. In a small town like mine oil is the lifeblood. All people see when they think of oilfield workers are the 19 year old kids who go out and buy the biggest truck they can get finance for, racking their pipes up and down main street. Its hard to feel too bad for him when he gets laid off. But what about the single mother working as a cashier that loose her job because the revenue from the rig groceries is gone. I have friends that have 9 to 5 jobs that resent the fact that I make twice as much as them and have a two week vacation every two weeks. I went to school, I could get a job normal job but it really doesn't interest me. I like the adventure and the challenge of working out here. Working in the same office for the next 30 years just to get to go home and eat what their fat wives decided to microwave sounds like a nightmare to me. But I am also typing this from a 50 year old inland barge on Christmas day. Everything in life is a comprimise. But don't for one second kid yourself about the importance of oil to the economy of Louisiana. Everything is effected by it, everything.

Baker Huges / Haib just laid off thousand and will lay off more
I'm sure they have a huge emergency fund !!

They should have enough to keep them going for 2-3 years


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Yea at the expense of who ? The worker
These are 70k 80k 90k 100k 110k 120k 130k jobs that people are losing


If your making a 100k a year and lose your job due to oil prices where do you go and make that income ?

Word on the street is that most of them were Baker guys or young Halliburton employees. I worked for Halliburton for almost 4 years. Was laid off once and hired back a week later at a lower grade. Halliburton is so top heavy, there's almost as many guys in the office as they are in the field. I am pretty sure what they did was just make a little room to kick the Baker office guys back into the field. December layoffs are business as usual at the Evil Empire. Office clowns never get the boot either, just field boys. Can't mess up the skeet shooting teem or the golf foursome.

they do have some hell of skeet shooting team lol


We are just opposite ; we will cut office jobs before field jobs as field makes profit and office makes Zero

The corporate culture there is insane. Everyone in the office walks around like deer at the end of the season. Ever seen that Sienfeld episode about the Soup Nazi. I am pretty sure the Soup Nazi is running Halliburton's GOM division.

I'm sure they do have a huge emergency fund. But they're too greedy to waste it on the people that made them the money.

It can go both ways. This store owner buys 3 vans. But the regular folk save $$200 a month or more in fuel bill. Drive way more. There's your tires for your tire salesman. More oil changes. More money to spend on groceries and entertainment for himself rather than oil company entertaining clients. It goes both ways.

?


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Not really. Reason being is that store owner expanded his business to meet a demand. When there is no more demand he either has to find a new way to generate revenue or down size. Good luck find a new customer witht he rest of the local economy in shambles. So he's going to downsize. The "regular folk" that were hired when he expanded no loger have jobs to pay for that cheap gas so they aren't going to be driving anywhere. Maybe to the unemployment office.

Don't get me wrong. I don't wanna see anyone lose their job. But 6 kids gettin cut from bathin groceries can slide on down the road to mcds and be ok. It's gonna hurt some ppl but benefit ppl also

Funny reading this realizing how people think they know how companies are run, but don't have a clue. The simple fact is it takes more than $70-80 to make the risk of drilling deep water worth it. Companies whether oil or retail or any type are not going to pay employees and use up cash reserves when demand for there service doesn't exist. It's all about making the company attractive to investors. If they don't layoff to meet demand then stocks sell off resulting in even more layoffs. Cheap gas is very expensive for the unemployed. The situation in Louisiana and Tx is going to get very ugly. Field workers AND office employees are going to hit the street, with little hope of landing a similar position. It will affect housing prices, car sales, entertainment, etc. it will get ugly for many of us, our families, and friends. The effect of low prices means reduced drilling, reduced production, then short supply, the scare of PEAK oil, high prices, then trickle effect of high prices with food, and this awful yo-yo continues. What is needed sustainable prices that are affordable to the consumer and profitable enough to be worth taking the risk.

#microcosm

Agreed!

15 years ago 1.50 gas acceptable

2014-2015 gas should never be lower than 2.50 a gallon

Gas has not infated much at all from 1999-2014
Your looking at hightest $3 a gallon lowest $1.50 increases

Obama is loving this while his democrates with zero jobs can get a whole gallon of gas now when they say give me $2 on pump 3

All those school grants and teachers pay raises from gas and oil revenue is about to be
ZERO

I thought about that , isnt that some sh it, the only ones that this dosent effect are the ones sucking the system dry, the same ones that dont pay pay into the system, are getting a pay raise via the gas pump! I need to step away from this tangent..... nothing gets me boiling more.

Beginning of the END!

Going to be even less productive, tax paying, citizens than there are now. When the layoffs come and the system will be ligitamtiely needed by individuals who actually want to go to work but cant find a job there wont be enough resources to assist them.

I agree with most posts on this thread (even W's), but I do not agree that the mom and pop companies who did not save their earnings properly are the only companies that will suffer. Sure a lot of money is blown by O&G compqnies during the good times but im not sure that would helpnin this situation.

These smaller companies are heavily leveraged, and their investors want to see a profit. If they approach their investors at the end of a quarter and show them red numbers without having made aggressive cutbacks (layoffs) then the CEO is replaced along with many regional managers under him.

It pisses me off too that for the last 5 years I have worked for my employer we have operated in the green and the minute we get close to the red something drastic must be done but thats just the way businesses are run.

Bottom line is Saudi Arabia holds the cards here and they are methodically cutting the price of oil in a very deliberate way to shake out the smaller companies who have been producing from the shale plays in NAM. Until Saudi Arabia is satisfied with the number of rigs that have been stacked and number of companies who have folded in NAM, AND all of the excess oil that is currently flooding the market with no buyer has been burned off, then the price of oil will begin to increase back to a level that other countries besides Saudi can make a profit on. Other than that scenario I am not sure that anyone else in the world knows of another solution.

$1.99 in delcambre this morning.

I don't know how much the US can affect oil price, but one has to wonder if the US in collaboration with Saudi, is purposely lowering prices crash Putin's war machine. Think about it, 3 months ago, Putin was the big dog on the block, was begining to look like a major world leader. He pushes too far with Ukraine, boasts about surveilance flights in the GoM, gets a deal with China to fund bases in Cuba, Venezuela, has subs entering Norways waterways, flying near US airspace in Alaska, flying over NATO countries airspace. All this within the past 3-6 months. Now he is being crippled and Russians are turning against him. Seems to me more than co-incidence. Sad thing is, if true, is that the working class families are the pawns that get sacrificed. 2015 will be interesting.

Don't forget the embargo on western food products.

Russia is number 2 in the world for oil exports, it's half their economy. America and SA are no doubt in bed and I think your theory is spot on. I've heard it said that the Saudis will push it down just until a gold begins on small drillers then bump it up to just above sustainable - for every dollar it drops the Russians lose a couple billion bucks/yr.


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I just know my gas bill for my fishing trips this month has not been this low in a long time and I am liking it.

I hope gas goes up to $5 a gallon!!

Hey, these gas prices are like McDonald's.... I'm loving it!!!

I hope gas goes to $1.00 a gallon.

So the price of oil and gas goes down so economy suffers and the working man suffers for it......The price of oil and gas was high and the working man suffered for it with high food prices , fuel surcharges on utilities and so on. The way I see it its gunna cost the working man either way. The only ones that remain happy are career La.purchase and welfare recipients. Then again if their is no working man sooner or later there will be no career La. purchaser's...or federal dependents.....So if you feed a coyote long enough and then quit ?????? He may just turn on you......

This is old news.

Someone explain how oil futures are traded and how this drop in the price per barrel hurts the economy, oil/gas workers etc.

Think that has been explained 30xs on here
If you don't know by now you will never know

Hope being a teacher paid by Gov and state don't ever cut your pay in the future due to low oil and gas revenue

Remember who pays Government and State bills !!

Agreed!


:amen:

State treasurer said we need oil to be at $78 a bbl to break even in La. economy

Oil is traded in US dollars. Until it's traded in rubles or yuan , we will be fine.
Our dollar is backed by oil.

As far as calling oil workers "selfish" like someone on here did, up yers. Go call some kids laid off dad selfish as you enjoy a couple more cents at the pump you ****!

.