Are low oil prices helping or hurting you?

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TwoForFlinching

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For a lot of us, the low prices compare to getting a small raise. Not that I'm able to travel more, I'm sure I could... but it's a slight more amount I can contribute to savings.
 

dennishoddy

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Being retired it's good for me, and good for the farm expenses. Not so good for some of our investments in the oil sector.
My wife works in the oil business. The layoffs have been deep. Not good for those out looking for a job now.
 

Gideon

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I still have a job, but who knows how much longer that'll last.

It helps to underscore the point. In an economy like Oklahoma's, diversification is survival.
 

whiskeysnoot

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When you work in an industry that has been plagued with layoffs, pay concessions, outsourcing to foreign countries, etc. for the last 15 years due to high fuel prices the lower prices now are a welcome change.

As for life outside of work low prices have allowed me to take trips that I had to limit with higher prices.
 

DeerAssassin

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Well, I was employed with Nomac Drilling bringing in around $28 an hour up until January. The layoff came and now i'm working for a lawn and garden outfit making $9 an hour. At least I found a job, many of my coworkers haven't been so lucky. I had to move out of my house and move in with family. You tell me how it's working out for me. But at least the soccer moms can fill up their SUV's for a few dollars cheaper.
 

nofearfactor

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I'm an investor also with mineral rights, the oil segment of my income is 50% what it was last Sept-Dec quarter. I don't see it getting any better any time soon. I've adjusted probably better than most as it is not my main income, but it still sucks.

(Tapatalk)- on the road.
 

RidgeHunter

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It hurts most Okies whether they realize it or not. We are not exactly a diverse state economically.

Meh. I've been in for 10 years, tho NG prices affect me more than oil. If it gets real bad I'm out for good. I want to move and quit sucking corporate D anyways.
 

Okey-Dokey

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Not to be a douche which I know I'm going to sound like, but in economies that don't rely on oil, cheap gas actually does do a great deal to help the economy do better (most of the time). People freak out if gas goes up $.25-.50 per gallon and it has a direct effect on the economy. However....with the huge rises in costs of health care for most people I know due to Obamacare, the savings at the pump aren't really doing much for the country this time around. Makes me wonder if the prices in gas are a way for the Obummer administration to battle such a stagnant economy nation-wide?

Sorry for your hard times.

Well, I was employed with Nomac Drilling bringing in around $28 an hour up until January. The layoff came and now i'm working for a lawn and garden outfit making $9 an hour. At least I found a job, many of my coworkers haven't been so lucky. I had to move out of my house and move in with family. You tell me how it's working out for me. But at least the soccer moms can fill up their SUV's for a few dollars cheaper.
 

NikatKimber

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The volatility of the oil and gas industry is exactly why I choose not to work in it. When I graduated in 2009, the O&G industry was the only strong(ish) industry still going. But I refused to work in an industry that is as up and down as it is. So it took a while to find work then. But today, I am still employed, and have no worry about my job. And, I'm making 2/3 more now than then.

Also, doing a quick math calc, using these two site's information:
http://www.census.gov/hhes/www/income/data/historical/people/
http://www.statista.com/statistics/204740/retail-price-of-gasoline-in-the-united-states-since-1990/

The portion of income going to gas (based on 20mpg and 15kmi / yr) was 62% higher in 2010 than it was in 1995.

The cost per gallon of gas is up 150% + over 1995 costs. Average inflation should only be 55.8% for that time period. So gas has gone up 3x more than income, which has followed the expected inflation value almost exactly.

I'm sorry to hear about anyone's woes, but wishing worse on the rest of the population because you happen to be on the receiving end when it does go up is self centered and short sighted in my opinion.
 

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