Saudi Arabia to lower oil prices, the houston boom is over

Well, my band played about 8 different O&G holiday parties in November/December and they were all lavish as hell. One even spent 750K to hire a grammy-winning country group to play after us.

December is always our best month. I guess it won't be next year...

 

That's a lot of $$$ for ONE show! That's Coldplay, Lady GaGa, Rihanna, Kanye West territory. If I had to guess who it was I'd say Rascal Flatts.

 

To be fair, it's not like other industries don't do the same when times are good. It is what it is.

 

There needs to be a balance, but that's not likely. Lower fuel prices also promotes inefficiency and pollution as it renewable energy doesn't make as much sense. Also, O&G jobs and investment really propped up the economy in the wake of the recession. However, like you mentioned, too high prices can really effect logistics, food prices, and just about everything.

 

Exactly! And what about those selfish mfers who stopped buying the newspaper once you could get the content online for free? Why didn't anyone think of the reporters, copy editors, photojournalists, et al. who lost their jobs? All for what, an extra dollar a day?

 

You would be correct.

 

Anadarko hired Maroon 5

No lie.

 

I like how consumers are making long term investments (re: lincoln navigator sales) over short term changes in price of oil.

'Murica!

 

A few things from this.

1) Working in a cyclical industry means there will be booms and busts (I'm in one) and all we can do is brush up on our experience, learn more and fill out more bullet points in our resume. Need to develop those transferable skills, which is much easier said than done.

2) Like the auto industry and finance industry, I think O&G issues will roll downhill and impact people outside of the industry. I do feel bad for O&G and it's probably going to ripple through and affect most people in Houston (and broader Texas in general). Even if we're not directly in it, I can see it potentially affecting both my family and my parents. The most obvious which is real-estate losing value.

3) That said, I think it's unlikely government intervene and help as the entire industry would not fall, and it's reach is not as wide. Given the political slants of the industry, and how sharp criticisms were from conservatives against bailouts of auto and financial industry, I don't believe we'll see major government intervention.

 

Is this really your logic? Have you seen what constitutes journalism these days? Its a joke. And for a tree hugging liberal hippie like yourself, what about the thousands of trees being harvested for needless paper? Your logic is baffling.

On one hand, you people complain greedy companies charge too much, but once the prices drop and cuts are made, you complain again. If you feel like your life should be a charity, then feel free to give away all your money to everyone else.

 

Got an email from the top of our division in GE O&G, not looking too good.

 

sarcasm meter broken.jpg

 

BP is going to freeze salaries. What about bonuses? Sounds like a desperate move - takeover target.

 

People have been saying that for year. If it didn't happen during the oil spill when they were weak and the other companies were strong, why would it happen when everyone's weak?

 

And in other industries... a statement like this isn't even something people would bat an eye at.

 

In light of recent events, is Houston still the best economy/job market in the country?

During the recession while the rest of the country was down, seemed like Houston was rubbing its nose to the rest of the country.

 

I've never heard that before. Is rubbing your nose considered offensive?

 

Good question, I'm wondering the same. Go to your boss' office and rub your nose at him/her. Comeback and report your findings.

 

I always thought it was "thumbing your nose"

 

No, you thumb their nose at it and rub yours in it.... do a little hokey pokey and turn yourself around... that's what layoffs are all about.