gonna be lots of nice used trucks for sale soon...

[CosmicCowboy]

Oil field cuts are starting to hit. They are stacking rigs in West Texas and several service companies have already sent out pay cut notices and are pruning payrolls. Sucks for those that thought that crazy money in the oilfield was going to last forever and didn't save.

[baseline bum]

Oil field cuts are starting to hit. They are stacking rigs in West Texas and several service companies have already sent out pay cut notices and are pruning payrolls. Sucks for those that thought that crazy money in the oilfield was going to last forever and didn't save.

You think OPEC can afford to keep gas at $2 a gallon for long?

[hehateme]

Good time to invest in oil while it's still low? Can't keep this up forever...

[CosmicCowboy]

You think OPEC can afford to keep gas at $2 a gallon for long?

It's not that easy anymore. Within OPEC there are the haves and the have nots and every country has it's own break even price. In the past, the "haves" with cheap production costs like Saudi Arabia and Kuwait have been willing to take the production hit but are tired of taking one for the team that really doesn't appreciate it. I think they are going to sit back this time and let low oil prices weed out the ones with high production costs...and that includes the shale boom in Texas, Iran, Venezuela, Russia, etc.

Saudi Arabia can't go forever with these prices because they distribute so much of their oil income to the general populace to buy complacent citizens so they can preserve the monarchy but they have huge cash reserves to live off of for several years if necessary.

[chunticakes]

so is it a good idea to invest in oil now that its low and hope the prices eventually drive back up?

[baseline bum]

It's not that easy anymore. Within OPEC there are the haves and the have nots and every country has it's own break even price. In the past, the "haves" with cheap production costs like Saudi Arabia and Kuwait have been willing to take the production hit but are tired of taking one for the team that really doesn't appreciate it. I think they are going to sit back this time and let low oil prices weed out the ones with high production costs...and that includes the shale boom in Texas, Iran, Venezuela, Russia, etc.

Saudi Arabia can't go forever with these prices because they distribute so much of their oil income to the general populace to buy complacent citizens so they can preserve the monarchy but they have huge cash reserves to live off of for several years if necessary.

Kind of short-sighted though, isn't it? Isn't their cheap to extract oil short-lived? So they drive demand through the roof with their cheap oil and run out in 15 years instead of 40?

[illusioNtEk]

the need for oil will always be there... a war with Iran should do it.

[cantthinkofanything]

so is it a good idea to invest in oil now that its low and hope the prices eventually drive back up?

YES! If we all invest, we can drive the price up and then sell at the top. HUZZAH!

[Cry Havoc]

the need for oil will always be there... a war with Iran should do it.

Not always.

[mouse]

Oil field cuts are starting to hit. They are stacking rigs in West Texas and several service companies have already sent out pay cut notices and are pruning payrolls. Sucks for those that thought that crazy money in the oilfield was going to last forever and didn't save.

Oil is like gold it can only lose a certain amount of value before it starts to gain it all back.

[Franklin]

:lmao those recommending oil minding jobs to my nigga Jacob

[Nbadan]

Just last week you were recommending we all give up out current jobs and start driving oil trucks for 70K a year....can you say class action suit?

[DeadlyDynasty]

Yeah we gotta couple guys out here whose families have been affected by the cuts in TX. Still, there's plenty of money to be made in oil/transportation, if you know where to look. BNSF is a good company (you're welcome) to look at...or you could just be a war profiteer like moi.

[mouse]

Big Oil killed the Electric car


vRnUY6V2Knk

[boutons_deux]

Saudi Arabia can't go forever with these prices because they distribute so much of their oil income to the general populace to buy complacent citizens so they can preserve the monarchy but they have huge cash reserves to live off of for several years if necessary.
Saudi set for tighter 2015 budget after oil price fallshttp://www.reuters.com/article/2014/12/02/us-saudi-budget-idUSKCN0JG14F20141202

Saudis are in much better position to run with lower income than the high-production-cost countries.

[Wild Cobra]

Big Oil killed the Electric car


vRnUY6V2Knk
This bullshit again?

Big oil didn't kill the EV1. It was an experiment by GM with no plans to sell it, but to test the viability. That's why they only leased them, and never sold them.

You really need to stop believing the libtard propaganda.

[mouse]

This bullshit again?

You can't bury the truth for ever.


Big oil didn't kill the EV1.

Maybe you didn't watch the film.



It was an experiment by GM with no plans to sell it

That's bullshit no one like GM is going to produce all those cars just for shits and giggles why even bother your not making any sense.


A GM spokes person said on film they spent a billion dollars to promote the market.




but to test the viability.

why? if they don't have plans to produced them?


That's why they only leased them, and never sold them.

They leased them so no one would reverse engineer them or sell them to Japan they wanted to control the experiment. The lease agreement was very strict and had many rules about sharing the technology and traveling over seas. The experiment backfired the cars were very popular they were quiet fast and you could travel 100 miles using 2 dollars of electricity.

The Big Oil exes started to put pressure on GM so they recalled the cars overnight they lied about what they were going to do to the cars and the film shows how some owners followed the repo trucks to the junk yard were they were crushed. one man was able to hide his car and has it still.

You don't just build 100 plus cars just to repo them overnight to crush them stop being so naive.

GM even made commercials to promote the car.

wodTinlvlB8




You really need to stop believing the libtard propaganda.

Why cant I believe what I want I don't live in north Korea you need to stop dictating to others and open your eyes it's not about Dems vs Reps

its about waking up and not hiding under that bed of ignorance you sleep on every night.


l3OnYjP4FTk

[m>s]

Would've been nice before I bought a new one. You can't hardly get one for less than the price of a new one. That's if you know how to negotiate. I got a 40,000 dollar truck for 27,000 and you can't even find a lightly used truck for less than 24

[The Reckoning]

looking for one tbh hit me up son

[CosmicCowboy]

Just last week you were recommending we all give up out current jobs and start driving oil trucks for 70K a year....can you say class action suit?


you really are a dumb fuck. That oil those trucks are hauling is coming from wells that are already drilled. Those jobs are safe. The jobs in jeopardy are all the subcontractors on the front drilling end.

[Th'Pusher]

you really are a dumb fuck. That oil those trucks are hauling is coming from wells that are already drilled. Those jobs are safe. The jobs in jeopardy are all the subcontractors on the front drilling end.
:lol do they just drive the oil around endlessly?

[CosmicCowboy]

No, dumbass. They pick the oil up from wells that are not near pipelines and take it to terminals that store and ship it in pipelines they are connected to. Thanks for playing.

[sandman]

High demand (especially from China/India) in the last several years created high prices. High prices allowed many US O&G's to target plentiful but expensive assets like shale and tar sands. High production now meets high demand. Prices naturally start to fall a bit, and economic slowdowns in China helped drive demand down, creating a surplus and further decrease prices. OPEC allows prices to fall in hopes that US companies cannot afford to explore/produce the more expensive assets and thus retain (and possibly grow) their market share. Saudi is driving the OPEC price war in a short term gamble that they can withstand, but is hurting other OPEC countries like Venezuela, Angola and Nigeria who are heavily dependent on oil for their revenue. Additionally, non-OPEC/US countries such as Russia are being immensely hurt economically in this staredown. In the end, someone is going to blink and slow down production and reduce the surplus, which will flip the current supply-demand and drive prices back up. I expect it will happen in 2015 as Saudi does not have the long term ability to keep playing this game. But this is a game being played between foreign governments and US O&G companies, which don't have the leverage of the US government behind them. OPEC will cut production, but not before seeing the O&G's at least stop some of their exploration/new ventures, if not some outright production.

[Th'Pusher]

No, dumbass. They pick the oil up from wells that are not near pipelines and take it to terminals that store and ship it in pipelines they are connected to. Thanks for playing.

You're the one playing old man. If they're not drilling new wells, there is no need for new truck drivers. So why are you telling people to go get their CDL so they can go make $80k hauling oil?

:lol those jobs are safe.

Just admit you were talking out of your ass like you always do.

[sonnytris]

With a unemployed welder and helper sitting next him

[CosmicCowboy]

You're the one playing old man. If they're not drilling new wells, there is no need for new truck drivers. So why are you telling people to go get their CDL so they can go make $80k hauling oil?

:lol those jobs are safe.

Just admit you were talking out of your ass like you always do.

Lol just admit you are a bitter little bitch that probably got a shitty degree and hate your food service job.

[chunticakes]

so is it a good idea to invest in oil now that its low and hope the prices eventually drive back up?

and still nobody answered my question. what say you cosmic?

[CosmicCowboy]

and still nobody answered my question. what say you cosmic?
There will be money to be made by the more solvent companies picking off good leases cheap from the players that run out if money but there aren't really any good oil plays that I see. Oil is going to be cheap for awhile. If you are looking for an oil related stock play look for companies that use a lot of oil products like airlines, FedEx, ups, etc.

[Th'Pusher]

Lol just admit you are a bitter little bitch that probably got a shitty degree and hate your food service job.
Did you clean up that tin yard like I told you to, old man?

[rogues]

Lol just admit you are a bitter little bitch that probably got a shitty degree and hate your food service job.
:lol That about ends whatever point he had trying to make in this thread..

[RandomGuy]

You think OPEC can afford to keep gas at $2 a gallon for long?

Saudi's can, and that is all that matters.

Russia, Venezuela, Mexico... that is another story.

[RandomGuy]

There will be money to be made by the more solvent companies picking off good leases cheap from the players that run out if money but there aren't really any good oil plays that I see. Oil is going to be cheap for awhile. If you are looking for an oil related stock play look for companies that use a lot of oil products like airlines, FedEx, ups, etc.

Gonna take a while tho'. Airlines hedge against fuel price increases, but the act of hedging generally locks them in at a price. They don't get to benefit as much from falls, but are protected somewhat from spikes. (to my understanding, not sure what specific escape clauses any given company might have built into contracts to get out of them if the price drops)

[RandomGuy]

This bullshit again?

Big oil didn't kill the EV1. It was an experiment by GM with no plans to sell it, but to test the viability. That's why they only leased them, and never sold them.

You really need to stop believing the libtard propaganda.

Come on, man. Any business worth their salt will protect cash cows, and act in ways that are very much counter to free markets to protect their bottom line.

There is a reason we have anti-monopoly laws.

"free market" in reality is a lot less "Free" than some devotees seem to think it is.