Oil prices

[Caustic Burno]

For every job lost in the oil patch another eight to ten are lost in upstream and downstream jobs.
Maybe it's just me I just haven't figured how that is good for the American economy or defense.
We have not built a major refinery in this country since the 70's. And have shutdown dozens that are now overseas funding the people that want you dead.
Our government should actively be courting oil production,refining,hydro electricity,nuclear,along
With coal our most abundant natural resource. We have the technology to convert coal to gasoline
Just no one willing to invest billions to trillions of dollars to build the refinery.

 

[Anonymous]

I agree about the refineries. There have been some natural gas refineries built here locally but not for oil. Oil companies cost me more $$$$ in lost gear than anyone on this site but I NEED them as much or more than here does. I am not demonizing them for sure. I cant for the life of me understand why production off the Florida coast and up the east coast is not opened. Think of what that would do for the S.E. U.S. economy. Shallow water, easy to access oil. Instead oil companies are pushed to drill deeper water which pushes cost higher and higher.

 

[Caustic Burno]

I agree about the refineries. There have been some natural gas refineries built here locally but not for oil. Oil companies cost me more $$$$ in lost gear than anyone on this site but I NEED them as much or more than here does. I am not demonizing them for sure. I cant for the life of me understand why production off the Florida coast and up the east coast is not opened. Think of what that would do for the S.E. U.S. economy. Shallow water, easy to access oil. Instead oil companies are pushed to drill deeper water which pushes cost higher and higher.

Politics of not in my backyard. We all want cheap abundant energy that gives the country security
and strength. There are lots of sources of energy that are cheaper to produce than turning corn to ethanol. That just raises our taxes by reducing mpg increasing our tax burden.
I was in charge of the largest gasoline refinery in the country the technology we have is astounding
in complex refining we charged 450k Bpd to the refinery 520k bod of product left. I think it is number 2 now to the Saudis in Port Arthur.
The problem lies again in investment as we have way more simple single train refineries than complex.

 

[greybeard]

Low oil prices have not helped consumer spending to any large degree, and the lost job's income has offset any increase non-energy Americans may feel.

http://nypost.com/2016/01/23/consumers- ... as-prices/

My non-farm friends and relatives all firmly believe beef is ridiculously high priced and will be happy when it drops down a lot.

 

[Anonymous]

"Politics of not in my backyard"
Tell me about it. There is a natural gas pipeline that you could drive a small car through that runs from "my back yard" out to the Gulf turns southeast and runs to Tampa Florida. Some of the bottom we used to fish, I cant trawl across now because of this pipeline. Its ok to pump it across the Gulf to Florida for them to burn, but for Gods sake don't pump it out of the Gulf off their coast!!!!

 

[boondocks]

On the one hand, it's half as much to fill up my pick-up as it was a couple years' back. On the other hand, a big chunk of my retirement savings is seriously underwater due to energy companies' tanking.

Wish I had a spot I could buy a bunch and store it. You know darn well we will be paying for this little reprieve later. Saudis trying to put shale oil out of business and screw over the new Iraqi production, then they will drop production back down and prices will come roaring back....Just like when Walmart comes in, lowers prices until the mom-and-pops go out of business, then raises prices.

I'm curious--do we add to the strategic oil reserves when prices are low, or it is always kept steady?

 

[Craig Miller]

. over paid oil workers are only a tiny fraction of the workers in USA quote

So are over paid roofers. Me and you will never agree on this m5 and I think we've discussed it enough we both know that. Caustic gets it. Looks like grey beard does too. Up stream and down stream jobs is what we are talking about. I'm sure that your business is up and your fuel bill down. I bet there are thousands of roofers all over oklahoma, texas, luisiana, Pennsylvania, new york, ohio, utah,new mexico, north Dakota, california, and alaska who are losing their businesses right now due to the downturn. Crazy the oilfield affects people in so many states. :deadhorse:

 

[greybeard]

If you think oil sector people are overpaid--go call a licensed plumber to give ya a quote on something.....or a lawyer.

 

[Caustic Burno]

On the one hand, it's half as much to fill up my pick-up as it was a couple years' back. On the other hand, a big chunk of my retirement savings is seriously underwater due to energy companies' tanking.

Wish I had a spot I could buy a bunch and store it. You know darn well we will be paying for this little reprieve later. Saudis trying to put shale oil out of business and screw over the new Iraqi production, then they will drop production back down and prices will come roaring back....Just like when Walmart comes in, lowers prices until the mom-and-pops go out of business, then raises prices.

I'm curious--do we add to the strategic oil reserves when prices are low, or it is always kept steady?

No we do not add to the reserve.
Our infrastructure in this country needs some serious repair as we'll as most has fallen in neglect
for the last forty years, this creates a lot of American jobs.
We loose one of three pipelines be hard to find fuel in an entire PADD ( Petroleum Admin Defense
district) .

 

[Caustic Burno]

. over paid oil workers are only a tiny fraction of the workers in USA quote

So are over paid roofers. Me and you will never agree on this m5 and I think we've discussed it enough we both know that. Caustic gets it. Looks like grey beard does too. Up stream and down stream jobs is what we are talking about. I'm sure that your business is up and your fuel bill down. I bet there are thousands of roofers all over oklahoma, texas, luisiana, Pennsylvania, new york, ohio, utah,new mexico, north Dakota, california, and alaska who are losing their businesses right now due to the downturn. Crazy the oilfield affects people in so many states. :deadhorse:

The oil industry dollars pumped into the economy are astronomical
Your talking 100,000 of jobs from contracting industries thar support it.
These jobs pump billions back into our economies. Entire regions of the country are supported off the industry.
I forget who was talking about fertilizer prices all that industry has been driven overseas by the EPA.
Regulations shutdown the vast majority of ammonia plants in this country putting our food supply in jeopardy in an embargo.
This is like that Robert Earl Keen song the road goes on forever and never ends.

 

[Nesikep]

I agree about the refineries. There have been some natural gas refineries built here locally but not for oil. Oil companies cost me more $$$$ in lost gear than anyone on this site but I NEED them as much or more than here does. I am not demonizing them for sure. I cant for the life of me understand why production off the Florida coast and up the east coast is not opened. Think of what that would do for the S.E. U.S. economy. Shallow water, easy to access oil. Instead oil companies are pushed to drill deeper water which pushes cost higher and higher.

Politics of not in my backyard. We all want cheap abundant energy that gives the country security
and strength. There are lots of sources of energy that are cheaper to produce than turning corn to ethanol. That just raises our taxes by reducing mpg increasing our tax burden.
I was in charge of the largest gasoline refinery in the country the technology we have is astounding
in complex refining we charged 450k Bpd to the refinery 520k bod of product left. I think it is number 2 now to the Saudis in Port Arthur.
The problem lies again in investment as we have way more simple single train refineries than complex.

If you don't build refineries when the price is low, and you don't build them when the price is high.. when in tarnation are you going to build them?

For many of the workers in the oilfields.. I really don't shed many tears for them.. A lot of them are uneducated, crude arses.. I know them, most of my graduating class went to work in the oil fields..
Easy come, easy go.. they made BIG money (yes, they paid a lot of tax too), but they bought jacked up F650's and tons of other useless toys, and if after just a year or so they're broke, well.. that's on them, they had their turn at the trough.

We had low cattle prices for a decade, and it put a lot of ranchers and farmers out of business, and whole communities across the continent died because of it... How many good years have we had in the last 25 years?... I recall only the last 3 or so and it's already tanking again... the only reason our prices here are decent is because our dollar is worthless, and that means that while we still earn well, we get taxed in a higher bracket and get to pay more for anything we buy..

I'm sorry, I just can't cry for a lot of these arrogant pricks I went to school with.. at our 10 year grad reunion (2007) they were bigshots, and I look forward to seeing them cut down a notch or two next year.. but they probably won't have the money to show up.

The money saved by fuel being 1/2 priced at the pump is also pumping billions of dollars back into the economy, and it's affecting the people who need it most the most as well.

Oil price up, or down, there's some bigwigs out there with big plans, and I'm certain they have something up their sleeve.. they'll make every penny they 'lost' from the low oil prices back and then some... might just take a few years, but they're patient!

 

[LRTX1]

Which is better for the economy, high oil or low oil?

The US economy or that of a Middle Eastern country?

 

[Caustic Burno]

I agree about the refineries. There have been some natural gas refineries built here locally but not for oil. Oil companies cost me more $$$$ in lost gear than anyone on this site but I NEED them as much or more than here does. I am not demonizing them for sure. I cant for the life of me understand why production off the Florida coast and up the east coast is not opened. Think of what that would do for the S.E. U.S. economy. Shallow water, easy to access oil. Instead oil companies are pushed to drill deeper water which pushes cost higher and higher.

Politics of not in my backyard. We all want cheap abundant energy that gives the country security
and strength. There are lots of sources of energy that are cheaper to produce than turning corn to ethanol. That just raises our taxes by reducing mpg increasing our tax burden.
I was in charge of the largest gasoline refinery in the country the technology we have is astounding
in complex refining we charged 450k Bpd to the refinery 520k bod of product left. I think it is number 2 now to the Saudis in Port Arthur.
The problem lies again in investment as we have way more simple single train refineries than complex.

If you don't build refineries when the price is low, and you don't build them when the price is high.. when in tarnation are you going to build them?

For many of the workers in the oilfields.. I really don't shed many tears for them.. A lot of them are uneducated, crude arses.. I know them, most of my graduating class went to work in the oil fields..
Easy come, easy go.. they made BIG money (yes, they paid a lot of tax too), but they bought jacked up F650's and tons of other useless toys, and if after just a year or so they're broke, well.. that's on them, they had their turn at the trough.

We had low cattle prices for a decade, and it put a lot of ranchers and farmers out of business, and whole communities across the continent died because of it... How many good years have we had in the last 25 years?... I recall only the last 3 or so and it's already tanking again... the only reason our prices here are decent is because our dollar is worthless, and that means that while we still earn well, we get taxed in a higher bracket and get to pay more for anything we buy..

I'm sorry, I just can't cry for a lot of these arrogant pricks I went to school with.. at our 10 year grad reunion (2007) they were bigshots, and I look forward to seeing them cut down a notch or two next year.. but they probably won't have the money to show up.

The money saved by fuel being 1/2 priced at the pump is also pumping billions of dollars back into the economy, and it's affecting the people who need it most the most as well.

Oil price up, or down, there's some bigwigs out there with big plans, and I'm certain they have something up their sleeve.. they'll make every penny they 'lost' from the low oil prices back and then some... might just take a few years, but they're patient!

You don't build them period as it takes years to get them permitted here. Can start one overseas tomorrow. You try and get permitted to expand an existing one. Motiva (Saudi ) was the last major in a decade I know of.
Secondly most people have no clue what a petrochemical complex looks like or what it takes to run.
The second largest in the world lies on the Houston Ship channel, one sunk ship and you have crippled the globe. The largest is Indonesia almost forgot owned by DOW.
Ignorance is bliss.

 

[True Grit Farms]

Well I seen where 3 businesses are hiring in Helena, they have big signs up by the road.
You oil people don't get it. The high cost of petroleum crippled this country and the oil companies and shareholders are so greedy I don't give a darn. Alot more folks benefit from the low cost of oil than it hurt. A 100 thousand workers are nothing compared to the 320 million that reap the benefits of the lower prices of petroleum products in the US of A.

 

[skyhightree1]

Well I seen where 3 businesses are hiring in Helena, they have big signs up by the road.
You oil people don't get it. The high cost of petroleum crippled this country and the oil companies and shareholders are so greedy I don't give a darn. Alot more folks benefit from the low cost of oil than it hurt. A 100 thousand workers are nothing compared to the 320 million that reap the benefits of the lower prices of petroleum products in the US of A.

I got to say I DEFINATELY agree with that.

 

[cowboy43]

Rewrite the question to: Which is better for the Country high beef prices or low beef prices?

I do not own oil wells or have mineral rights , but I am from an oil community and the low oil prices has hurt the economy in our county, from the taxes that support schools, county and city government, all local businesses are hurting, hundreds if not thousands of workers have lost their jobs in the adjoining counties. The money from the local livestock shows shows for the kids is way down, The oil companies pumped a lot of money into the economy even large cites like San Antonio ,Houston and Austin have been affected. High oil prices create a lot of satellite jobs so I would have to say high oil prices do benefit the economy, For you Texans and other oil states that is why the state economy has been so good, Rick Perry took the credit but it was oil that made the economy for Texas strong. :cboy:

 

[bball]

Rewrite the question to: Which is better for the Country high beef prices or low beef prices?

I do not own oil wells or have mineral rights , but I am from an oil community and the low oil prices has hurt the economy in our county, from the taxes that support schools, county and city government, all local businesses are hurting, hundreds if not thousands of workers have lost their jobs in the adjoining counties. The money from the local livestock shows shows for the kids is way down, The oil companies pumped a lot of money into the economy even large cites like San Antonio ,Houston and Austin have been affected. High oil prices create a lot of satellite jobs so I would have to say high oil prices do benefit the economy, For you Texans and other oil states that is why the state economy has been so good, Rick Perry took the credit but it was oil that made the economy for Texas strong. :cboy:

Excellent point. No different than the steel mills along the great lakes. When they started closing up, all the surrounding areas become strongly depressed and eventually vacant for the most part.

 

[Caustic Burno]

Well I seen where 3 businesses are hiring in Helena, they have big signs up by the road.
You oil people don't get it. The high cost of petroleum crippled this country and the oil companies and shareholders are so greedy I don't give a darn. Alot more folks benefit from the low cost of oil than it hurt. A 100 thousand workers are nothing compared to the 320 million that reap the benefits of the lower prices of petroleum products in the US of A.

No I get it on this you are clueless.
What hurts the country is a bad energy policy along with regulations that drive our security and jobs overseas. Yoo want to be amazed sometime google the foundries across the country that supports the industry along with electronics telecommunication and transportation.
Secondly the oil companies don't set the prices on the commodities exchange the Middle East does.
We will come out of this weaker as a nation

 

[M-5]

I understand the regional effect but Heres a news flash !!!!!!!! everyone does not work in oil and gas. Its just a minuet segment of employment in the USA. When your economy was doing well the rest of us were told to "go to heII" gas and oil jobs are all that matters. I hate that people struggle when their sector takes a down turn but Its not my fault when they lived HIGH ON THE HOG like it was going to last forever. I have worked off of commission for many years I know what its like to be rolling in money and what its like to be dead broke. Nothing last forever and everything runs in cycles. The OIl and gas industry is to blame for allowing the government to get their greedy little paws in the kitty. Right now I see hope and relief on the faces of the people and it is partly to blame because lower gas prices Those dollars are going back into small business and it will benefit millions and not just thousands.

 

[skyhightree1]

Rewrite the question to: Which is better for the Country high beef prices or low beef prices?

I hope what I am saying is understood. I do not think record high priced beef is good for anyone but for a short lived time its good for us as a producer. However, I feel as though prices should be as such that the average family can not look towards turkey or chicken or pork or the country looking for cheaper imported beef. IMO the whole country needs an realignment of prices on EVERYTHING. Greed has ruined this country and will take it down the drain. I am good with someone making money and making a fair profit however I do not agree with someone getting someone over the barrel just because they can. Oil companies can survive on cheaper oil prices if they wanted too and the big CEO's would cut Their huge salaries. Prices of everything should be relative to the economy. What I find strange is if theres a natural disaster and I increase my prices too much I would be accused of gouging and have a big headache to deal with. IMO price gouging goes on everyday and the gov't picks and chooses who to regulate. IMO oil companies are some of the worse price gougers out there. I will never be rich or on the cover of fortune magazine because I don't believe in raking people over the coals just to do it. I know my customers some are rich some are not but I do know they work everyday like I do so I offer them a fair price whether I pull up to a million dollar home or 50k you will get same base prices I have set forth. We need to get back to doing what is morally right to each other. :2cents: