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  • trout069trout069 Senior Member look at gps and tell mePosts: 5,848 Admiral
    What is not being talked about and what makes little sense,is the layoffs occurring in the oil patch.starting last 2 weeks folks in La and Tx working in certain sectors of oil biz are getting pink slips because of low energy prices.
  • CranfieldCranfield Senior Member Posts: 1,583 Captain
    The lay offs are happening all round the world, where oil activity falls below the economically viable level.
    Large areas of the North Sea operations are on restricted activity, or shut down.
    These operations will just be mothballed until the price rises again and it will.
  • illinoisfishermanillinoisfisherman Senior Member Posts: 5,548 Admiral
    The worldwide effects of $1.50 to $2.00 a gallon saved and spent elsewhere will have a far greater positive economic effect on the world than the negative effect of lost jobs in the oil sector. I agree prices will go up but I hope the Saudis were correct when they said "We will never again see $100 a barrel oil."

    The world needs to continue to switch to other energy sources.
  • tapatetapate Senior Member SowegaPosts: 5,263 Admiral
    Creates another $2200+ for the tapate fam only figuring in one car. Wife drives much less so that number is far less for her.
  • illinoisfishermanillinoisfisherman Senior Member Posts: 5,548 Admiral
    And hopefully the price of corn will go down as ethanol production slows. That should lower the price of meat and other groceries. The costs of shipping everything should also see reductions. It's a huge spiral that will free up a lot of disposable income for everyone. No government or group of governments could create an economic stimulus package of this magnitude!

    I have thought for years that the high cost of petroleum products and the use of grains to create ethanol were major roadblocks in the way of a complete economic recovery more than everything else.

    Then there are the "hidden" benefits of lower crude oil prices. Russia, who is trying to once again take over countries that had gained independence from them, is on it's economic knees. The radical terrorists that were overrunning parts of the Middle East are losing the cash they were obtaining from the sale of crude from areas that have come under their control. The Saudis are shrewd. Anyone think this was one of their intentions when they didn't cut production and allowed the crude prices to continue falling?

    Yes there are benefits to a handful through high crude prices but there are more benefits for most of the rest of the world from lower prices.

    Even the oil companies would receive some benefits back through lower prices. Not as much as they would if they could continue gouging the world, but some. More driving means more sales. More boating means more sales. More travel means more sales. They will increase their profits through increased volume of sales of all petroleum based products, including fuel.
  • BilllikefishBilllikefish Member Posts: 76 Deckhand
    Cranfield wrote: »
    The lay offs are happening all round the world, where oil activity falls below the economically viable level.
    Large areas of the North Sea operations are on restricted activity, or shut down.
    These operations will just be mothballed until the price rises again and it will.

    And this is why quite likely in the next 6-9 months we will see $90 + a bbl at Cushing and $3.50 a U.S. gal after the domestic production is taken off line.

    The strike called today by the western state unionized roughnecks may put the brakes on us production really quickly. Waiting and watching
  • illinoisfishermanillinoisfisherman Senior Member Posts: 5,548 Admiral
    The strike called today by the western state unionized roughnecks may put the brakes on us production really quickly. Waiting and watching

    Should this strike even be allowed? This production is of national importance and crucial to the security of our country. When Dad went on strike on the railroad post WW2 Harry Truman "drafted them" and ordered them all back to work. Oil companies should not be allowed to run the country! railroads thought they did before this and "Give em Hell Harry" smartened them up quickly enough.
  • BilllikefishBilllikefish Member Posts: 76 Deckhand
    L
    The strike called today by the western state unionized roughnecks may put the brakes on us production really quickly. Waiting and watching

    Should this strike even be allowed? This production is of national importance and crucial to the security of our country. When Dad went on strike on the railroad post WW2 Harry Truman "drafted them" and ordered them all back to work. Oil companies should not be allowed to run the country! railroads thought they did before this and "Give em Hell Harry" smartened them up quickly enough.

    Under this administration which, seems to give no Hell to anyone, I would think the strikers would probably be sent a dozen roses or maybe free pizzas.
    A really novel idea for deficit spending would have been to suck up all that half price crude the .gov could buy and put it in the SPR domes in Louisiana.
    China continues to buy record amts of oil each month in spite of their slowing Econ.

    Go figure
  • illinoisfishermanillinoisfisherman Senior Member Posts: 5,548 Admiral
    Yes, buying that oils and stuffing it in the reserve holding areas would have been a great idea. But government doesn't come up with any great ideas. Look at Obama care
  • NOLE66NOLE66 Senior Member Glendale, FLPosts: 1,630 Officer
    It will be back up to $3+ by Labor Day, guaranteed.
  • tapatetapate Senior Member SowegaPosts: 5,263 Admiral
    NOLE66 wrote: »
    It will be back up to $3+ by Labor Day, guaranteed.

    Why you gotta go and do that?!?
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