And there was much rejoicing in the land.... Gas Prices

[YALE]

What did it lower the cost of besides oil and gas exactly?

It will lower the cost of a lot over time. Commodities prices track together for the most part. Also, oilfield employment doesn't have anywhere near the economic impact people think it does. Most of the hands spend their money on shit that goes straight into the pockets of companies that are already doing well. They aren't spending much locally. They don't typically invest it at the rate others in their income range do. They're bad with money, and when it dries up, they cease to have much impact.

[fordracing19]

It hits oilfield towns hard in all the different business types. It has hit Gainesville hard. Our sales have dropped 25%

[Ruffdaddy]

Yeah the shale impact will be different than the past...but low oil prices may still be a net positive for the US as a whole.

Texas will surely suffer in many aspects ranging from tax revenue to automotive fleet sales. I know a lot of machine shops in several cities that are going under. Obviously any engine supplier is having trouble, and plastic companies are going to face declining revenue.

But people now save enough in gas money to finance that new 70" TV. So were creating a lot of jobs in the phillipines, china and japan. Were also getting more hourly retail workers.

At least saudi is burning through their cash faster than expected.

[no4njnk]

The O&G market affects more than you think, not less, and hits multiple markets. Steel manufactures have cut way back, mining is down since oil is so cheap, machines shops are closing, plastics (chemical based) are down since the oil based ones are less expensive now, and so on. If you drove through some place like Kilgore or Cisco a year ago and then drove by today the places look like a ghost town.

[CexMashean]

As long as gas prices keep going down, i don't care if some more ghost towns pop up.

[KBScobravert]

As long as gas prices keep going down, i don't care if some more ghost towns pop up.

Pecos can fall off the face of the planet.

[racrguy]

Pecos can fall off the face of the planet.

Luckily I've not yet ventured into that shithole.

[46Tbird]

The O&G market affects more than you think, not less, and hits multiple markets. Steel manufactures have cut way back, mining is down since oil is so cheap, machines shops are closing, plastics (chemical based) are down since the oil based ones are less expensive now, and so on. If you drove through some place like Kilgore or Cisco a year ago and then drove by today the places look like a ghost town.

You might be surprised how little this bothers me. We're on the cusp of new technologies that will dramatically reshape the future. Petroleum is in its decline. If you get laid off from what was a lucrative industry, work to become part of the next one.

I'm not insensitive to the concerns of people that are feeling a lot of pain from the transition. But don't have such a narrow career focus. There is still opportunity out there.

[Strychnine]

We're on the cusp of new technologies that will dramatically reshape the future. Petroleum is in its decline. If you get laid off from what was a lucrative industry, work to become part of the next one.
But don't have such a narrow career focus. There is still opportunity out there.

That's basically where I'm at. I'm gonna enjoy the ride on this train, but I'm also prep myself for a jump later if I choose. I'm broadening my knowledge base and contacts into renewables and water resources along the way as those two things will be what shapes our world over the next decades.

[bcoop]

It hits oilfield towns hard in all the different business types. It has hit Gainesville hard. Our sales have dropped 25%

Ouch. We're up 24% over 2014. I don't expect us to finish up 24%, but that's where we were as of 9/31.

[Ruffdaddy]

You might be surprised how little this bothers me. We're on the cusp of new technologies that will dramatically reshape the future. Petroleum is in its decline. If you get laid off from what was a lucrative industry, work to become part of the next one.

I'm not insensitive to the concerns of people that are feeling a lot of pain from the transition. But don't have such a narrow career focus. There is still opportunity out there.

What technologies are we on the cusp of? Almost none of the recent renewables would sell at all if it werent for massive government subsidies. Wind energy is a sham...just wait for there to be less govt handouts and you will see that industry crash as well.

No other industry but wind could sell their product for a negative value and still profit...

http://www.slate.com/articles/business/the_juice/2015/09/texas_electricity_goes_negative_wind_power_was_so_plentiful_one_night_that.html

[46Tbird]

We're not curbing our energy usage anytime soon. But we will certainly be curbing our usage of fossil fuels. Politicians have a lot to gain by supporting "non carbon emitting" energy sources. So yes, someone is going to become a billionaire by developing the technology and getting it subsidized.

Will it be you?

[akfodysvn]

My old man got terminated after 34yrs with SLB today. Perfect attendance and no write ups. Has been a model employee.

Was due to see a pension increase from reaching his 35th yr. They are downsizing and it's clear they are trying to keep the lower salaries. I guess that's business.

He was looking to retire next year but this was out of the blue. He is one of the few people trained on every machine as most are only trained on one. He also had seniority in his current dept of shipping and receiving.

He has been unhappy with the job for awhile but has gotten much worse since the plant managers have been brought over from India.

[Strychnine]

We're not curbing our energy usage anytime soon. But we will certainly be curbing our usage of fossil fuels. Politicians have a lot to gain by supporting "non carbon emitting" energy sources. So yes, someone is going to become a billionaire by developing the technology and getting it subsidized.

Will it be you?

Slight pedantry here, but I feel there's a big point here that is lost on most people. Not you specifically, but really anyone who bitches about fossil fuels but also doesn't want to give up their quality of life. We can't really curb our fossil fuel usage. We can try to level off and let other sources pick up the slack, but right now there's nothing capable of actually displacing any oil consumption (NatGas will still rise). BUT the proliferation of those other sources will make some guys out there a lot of money if they know what they're doing and are in the right place at the right time.


Two ways to visualize here, though it should also be noted that this data is pre Clean Power Plan, which will screw the coal industry - likely to death - and will increase that NG number.

[fordracing19]

Ouch. We're up 24% over 2014. I don't expect us to finish up 24%, but that's where we were as of 9/31.

Thats just Sept and Oct sales compared to the first half of the year. We are still up probably 20% over 2014