oilfield laying off

I had a recruiter in ND tell me that when oil goes below 50 bucks a barrel, they cant make a profit and will have to shut er down.

 

Not jealous at all.....high oil prices...benifit the oil workers...but at the cost of higher prices to the rest of us.....

 

Not just oilfield workers....a major trickle down that employs many folks that support the oilfield. Everybody from the laborer to the tax man benefit from higher prices including the trucker.

 

and those oilfield workers spend that money which benefits the local economies, giving more jobs to more people, which means more people are hired, at above minimum wage, which causes more demand for food, housing, retail services.... which benefits everyone in the long run....


It is a MYTH that lower oil prices benefit the economy, as history has shown, that after every drop in oil prices, the US economy suffers a major recession, after a very short growth.

 

There's your problem right there.... Listening to a recruiter. Lots of companies can't handle oil prices that low but there are also a lot of large/financially stable companies that can and will. Still plenty of jobs in ND, just not on a drill rig or frac crew...

 

When I ran casing I was making about $1,000 a day, but you worked your ### off for it and the occasional down-time was a blessing. Problem was a lot these guys would blow it like no tomorrow(especially at heartbreakers and that other strip club next to it), A lot of these guys have nothing to show for it sadly. I bought a car cash, house cash, and small rental house cash. I blew some money hobbies and stuff but saved most of it. Most those guys in ND have nothing to show for the money they made during the peak of the boom.

 

Some people are born stupid

 

I think a lot of them thought it would never end. I learned my lesson when I was like 19-20 when Michigan imploded and still hasn't recovered(low wage heaven over here), so when I went out there I had goals on what I wanted(car & a house) and never took it for granted. I'd see guys out there blowing 10k at a time at a casinos all the time like it was water. Now they're probably living in some crappy man camp cause they're broke.

 

Same thing happened on Colorado's western slope with the shale oil boom in the late 60's and early 70's. It was roaring, never going to end, etc. Except it did because they could never get around having to use a lot of water to get the oil out. Except there's very little water, and they couldn't get the rights to it.

Bust... never recovered.

 

marcellus region is still going strong but that's cause its pretty much all gas. My dads running sand for cabot sites and they have a contract for just over 1600 stages this year. Next 2 fracs are 200 some odd stages and 300. But Im sure rates will drop around here b/c everyone and their brother will be coming up here to find work

natural gas companies will hold on longer than oil will. I don't want oil to skyrocket again but atleast bring the price back up to where its a happy medium for everybody. One could only wish it was a perfect world