Crude oil is $86 today.... beginning of the end?

http://www.usatoday.com/story/money/business/2014/10/25/crude-prices-texas-oil-boom/17807735/
Heres an article that explains what the panhandle thinks about the pricing and what happens if it drops below the profit rate. We are one of the only economies I think that can survive this. If you did what Georgeandson said, and not strip one line out of it, you would be ok, because you would be able to handle it as well see it coming. Too many people looking for a reason to stress and ##### I think.
Do your job, save save save, watch whats happening around you, and make the best of it

 

yep, save save save, you don't need that motorcycle, motor home, boat, fishing gear, new house, new pickup truck..... that so many in the oil fields are doing at this time...

 

Yes everyone has to keep up with the Jones. Yet every time they catch up with the Jones, the Jones reorganize all debts & they get another big loan & builds an even larger house in the newest gated community on the other side of town.

Few can stand anyone getting ahead of them now days & goes deep in debt to try and keep up with their friends & neighbors & eventually they go belly up because of the keeping up.

 

and after the last bust, houses that were bought for 200,000 were selling for the taxes owed. Those who saved, had a very easy time after the bust... those that didn't lost everything.

 

You'll see it coming. It won't happen overnight. You'll notice you see fewer "CDL Drivers Wanted" wanted signs. You'' see rental spaces for RV's coming down in price. You'll start to see little changes inside your own company. If nothing happens at that point to trigger some sort of national or global economic crash, things might not get so bad any time soon, but if a crash then happens, then all bets are off as to what will be your employment situation at the end of the week.

 

There is a housing crisis brewing in China.
If that hits the fan............................


Fact is that the economy worldwide in a very sick patient.

 

this might count for some good news in the oilfield.

http://oilprice.com/Energy/Oil-Prices/Why-Oil-Prices-Are-About-To-Settle.html

 

Back in 07' while many were complaining about the high price of fuel, I kept thinking that if oil ever went below $100 we'd all be screwed. Turned out I was right.


If it wasn't for oil and gas we'd all be out of work.



Back in the recession of the 80's, the joke was:

What's the difference between a Texas oil man and a pigeon?

The pigeon can still put a deposit on a new Mercedes.

 

I survived the Oil boom-bust in Oklahoma in the 80s but no one listens. It's coming fast so when you see it start, pack and get any job you can because if you think they pay truck drivers cheap, you ain't seen nuttin. Put as many miles as you can between you and the oilfields too. I saw guys drive brand new International Oilfield trucks into the river bottoms and set fire to them.

 

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