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

http://www.ijreview.com/2015/01/239...solely-responsible-net-job-growth-since-2007/

 

does the refinery workers strike have any impact?

 

I was wondering the same thing.

 

H&P announced that they may layoff up to 2000 field employees. They are pretty much the Cadillac of onshore drilling.

 

Nabors shouldn't be too far behind, but bizarrely enough I still see them posting new jobs.

 

Have you heard anything about Fugro?

 

I think my neighbor got layed off (remember him telling me he works at Baker Hughes). His truck is sitting in his drive way, which is usually gone from 7 am till 5. Next time I see him, I'm going to have to ask or would it be rubbing salt onto the wound?

 

if you are going to do that, you better be holding a six pack of beer.

 

I totally glossed over this thinking that a contract would be signed before a strike ever happened. I wouldn't be surprised if that union gets voted out of one or more of those facilities once this gets settled.

 

Oil companies have record profits for years, and now they are moving out the workers to keep that money.

Gotta love it.

DD

 

I can't imagine how they or Core Lab won't have significant head count reductions.

 

Canada housing market might take a hit as will Norways and all those other small population, big producing countries. I think tis could be particularly bad for the Saudis if they don't increase production.

 

i wouldn't bring it up... just talk to him normally and he probably will mention it on his own.

 

It's a little disconcerting that it's only taken a couple of quarters for oil companies to start with the cuts.

 

Investors love it.

 

I entered a ****ty job market so I'm sure that's why I have a different outlook than most professionals, but to me, I don't care.

I have no problem with employers wanting to keep the money at the top of the food chain. It is what it is. You're accepting your circumstances when you sign-on, you should be content with it. Nobody owes you anything. And at the end of the day the severance packages these companies will make available (along with the salaries and benefits these folks were getting) will still be among the best in any industry, I'm sure.