Heard about this on the radio today. Could this be the next big one, and how would this affect Texas oil workers/drivers/economy. Made mention of a potential 42 billion barrels of crude still in the ground over there not to mention what's in their Gulf region.
Would any of you guys chase it? Thoughts?
http://www.woai.com/articles/woai-l...finalizing-historic-oil-legislation-12617235/
Mexico oil boom on the way????
Discussion in 'Oilfield Trucking Forum' started by EducatedTrucker, Jul 30, 2014.
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Lol no thanks. Even if they could get things going and keep them safe and regulated (LOL like that's gonna happen), they're not going to be paying anything even close to what we make in the states and they'll have ALL the cheap labor they need right where they are.
The only benefit I can see is hopefully some of the millions of people crossing into the country illegally stay right where they are to work in their own oilfields.snatale42, rockyroad74 and nshore harleyguy Thank this. -
If you look at a map of the eagle ford it stops at the Rio grande like some old map with uncharted ocean s.
Of course it really continues further down into mexico -
Safer in Iraq/Afghanistan then Mexico. At least out in the oil fields.
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Safer in Mexico. Afghans kill americans, Mexicans kill other cartel members. My uncle was telling me about that, they are currently doing seismic test, though I don't think they will pay as much as in the states.
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The big picture to me is that with new technology, they continue to discover new reserves. Sooner or later, there has to be an over supply. Get all you can get and SAVE is the best advice going IMO.
viper822004, ShortBusKid and glenn71 Thank this. -
I like that advice. If you make $100000/yr, net after taxes $80000, live on $20000, and save $60000 every year for 10 years, what could you do in 10yrs with that money after compounded interest of 5% - 10% gain minus x% of inflation?
Without any interest, it's $600000 minus whatever the falling dollar index and inflation eat up. Invested right and you may still preserve that $600000 buying power you had when it was earned.
I think a lot of people could retire in their 30s if they played it right.
Just for kicks, $60000 with an additional $60000 added every year, compounded annually over 10 years, with 8% gross gain minus 3% inflation, or 5% NET annual gain, will give you $890141 after just 10 years!viper822004, mathematrucker and Chibob Thank this. -
http://www.breitbart.com/Big-Peace/2013/12/29/Mexican-government-19736
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There are many in the 35% tax bracket that pay less than 10% effectively after credits and deductions.
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