1. Welcome to Oklahoma Shooters Association! Join today, registration is easy!

    You can register using your Google, Facebook, or Twitter account, just click here.

Are low oil prices helping or hurting you?

Discussion in 'General Discussion' started by reade, Aug 9, 2015.

  1. dennishoddy

    dennishoddy Sharpshooter

    Messages:
    64,902
    Likes Received:
    19,006
    Joined:
    Dec 9, 2008
    Location:
    Ponca City Ok
    Rating
    100%
    Which is exactly why I left 21 years in oil field manufacturing and went to electric utilities.
     
  2. Dave70968

    Dave70968 Sharpshooter

    Messages:
    6,678
    Likes Received:
    4,593
    Joined:
    Aug 17, 2010
    Location:
    Norman
    So...knowing that the industry is volatile, did you save aggressively during the boom time so you'd have something on which to fall back during the bust, or did you set your standard of living to your income when life was good and then find yourself in trouble when the entirely-predictable downfall came, and get bitter about others' benefiting from the swing?

    Oh, look, there's the answer.
     
  3. 30BulletHoles

    30BulletHoles Sharpshooter

    Messages:
    1,700
    Likes Received:
    48
    Joined:
    Jun 17, 2009
    Location:
    Woodward
    Well, there's the inevitable "hope you learned your lesson oilfield trash" comment. Lots of businesses and people that work for them that aren't oilfield businesses are closing or hurting as well because they rely on oilfield money. Hope they saved a couple years worth of revenue or wages. Maybe they'll learn their lesson too.
     
    Last edited: Aug 10, 2015
  4. owu1bag5

    owu1bag5 Sharpshooter

    Messages:
    1,842
    Likes Received:
    0
    Joined:
    Feb 13, 2007
    Location:
    Mustang
    Yeah I saved money during my run. Haven't really worked in 6 months. Still doing ok for now. It sucks not having the money to go buy what I want when I want. Which hurts the economy as a whole. You figure on the low end that every job lost is around 60k/year and most are closer to 100k/year and think about how much money is not being dumped into local economies. Comments like yours are ridiculous. A lot of good people are hurting. A lot of small town businesses may never recover. Not just oil businesses. Restaurants, hotels, etc. it's a bad situation for our economy as a whole. I hope I can hold on til it comes back.

    To answer the question, low oil prices are most definitely hurting me.
     
  5. Wheel Gun

    Wheel Gun Sharpshooter

    Messages:
    3,071
    Likes Received:
    121
    Joined:
    Jun 25, 2011
    Location:
    Formerly EdmondMember
    Directly: Hurting me. I count on oil production revenue and frac sand sales for part of my income. It's not there now.

    Indirectly: Hurting me. Sure, low gas pump prices are nice, but then I realize why they're low. The economy is stagnant and there is little demand for fuel. That hurts each of us in ways that we cannot calculate.
     
  6. reade

    reade Sharpshooter

    Messages:
    234
    Likes Received:
    0
    Joined:
    Oct 14, 2012
    Location:
    Green Country
    I live in Osage County and not only are low oil prices an issue but the resent Federal Government BIA regulations have effectively stopped all drilling and work overs here. Today a judge decides what's next. I'm headed to court now and am hoping for good news for a change.
     
  7. Viper16

    Viper16 Sharpshooter

    Messages:
    301
    Likes Received:
    0
    Joined:
    Apr 3, 2007
    Location:
    Tulsa
    Business sure has slowed down for me, and I am not tied directly to the oil industry. While I do sell and interact indirectly with those companies, I have noticed a decline in sales and projects.
     
  8. 1krr

    1krr Sharpshooter

    Messages:
    721
    Likes Received:
    1
    Joined:
    Jul 10, 2006
    Location:
    OK Shooters
    I left the o/g industry and to a large extent its products years ago. Because I use relatively little oil and gas, price changes either way affect me very little.
     
  9. BReeves

    BReeves Sharpshooter

    Messages:
    1,912
    Likes Received:
    589
    Joined:
    Feb 18, 2010
    Location:
    Catoosa
    Rating
    100%
    Like others I am retired more or less and the oil prices really do not effect me. On the other hand wife does work for a supplier of inspectors for the oil and gas industry. So far it hasn't effected her job but if it keeps up it might effect our household income which would effect me. She is still a year or two from retirement, after that, keep it low and I will be happy.
     
  10. nofearfactor

    nofearfactor Sharpshooter

    Messages:
    7,270
    Likes Received:
    286
    Joined:
    Mar 24, 2007
    Location:
    cold, dark
    Rating
    100%
    I run 91 and better when I can find it in 2 sports cars and in my DD hotrod SUV w/5.7l, but I never really look at gas prices much when Im out here because gas is always hell'a cheaper here than back home in California. When Im going to CA and back it affects my road budget quite a bit tho. When Im home here I mostly just cruise around BA and Coweta but do go in to Tulsa and back when I need to so the price of gas hasnt affected my daily activities. When I drive back and forth to gigs that I can drive to instead of fly it does affect my road budget but I deal with it by asking for more money from my manager. I fly alot to jobs, my accumulated miles help some, but flights are getting ridiculous expensive.

    The wifes lil commuter 4cyl Honda CR-V that she drives daily in to Tulsa and back during the week she runs 87 in and she is constantly *****ing about the price of gas no matter if we're in a down or up cycle because shes always trying to balance her budget/expense report. Ironically, the job she has put over 30 years in and is now a corporate officer, a company that builds massive equipment for large refineries world wide, she has been swamped busy as they have been busier than ever. She just spent the last several weeks and a few Saturday afternoons in the office working on a $33 million dollar job. Its done now and shes going on a 10 day vacation starting this weekend with her sister. I try to explain to her that when she *****es about gas prices that her bonus's on these big jobs will more than make up for what she is spending extra in gas money to drive her little 50 mile round trip to the office.
     

Share This Page