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Thread: The oil field layoffs. Are they to blame?

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    Thumbs down The oil field layoffs. Are they to blame?

    I don't know about you, but here in CO work has been tough. I'm making $100-300 a night when I was making $300-1,000+ a night. I'm working 5 days a week and barely making ends meet and this all had to happen 5 months before my wedding! I'm stressed out beyond belief! Anyone else notice a decline in your earnings after gas prices went down?



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    Default Re: The oil field layoffs. Are they to blame?

    Yeah oil field is kinda rough right now plus the cost of living is higher in Colorado than other neighboring states like Utah or Nevada.

    Time to road trip to where oil guys have a little more left in the pocket after knocking out their monthly bills.

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    Default Re: The oil field layoffs. Are they to blame?

    On the up side, oil prices are going back up. Probably back up to where they were at this time last year. Then the oil fields will be back to producing and the money will return for a while.

    Never count on your income in this business. It can turn on a dime, both regionally and nationally.

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    Default Re: The oil field layoffs. Are they to blame?

    ^ That's why I try to keep my expenses very low, like less than 50% of my income, and save at least 20%. Shit like this happens.

    I know someone in the oil fields and he was concerned he would not get a contract for this year, but he did, so I don't think it's quite time to panic yet... but it has definitely slowed down from what I can see on the news.
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    Default Re: The oil field layoffs. Are they to blame?

    Don't rely on the oil industry to make your money. FUCK the oil industry. I hope it goes down and stays down, forever, to be honest. I want to see solar and wind power booming....

    I live in a city that has alot of men in the oil industry, but I'm still making money. I make my money from doctors, lawyers, bank managers, accountants, CEO's, etc. Never rely on the oil industry. It will not last for much longer on this planet.
    "Dancing tables, making deals with devils like a drunk beauty queen"

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    Default Re: The oil field layoffs. Are they to blame?

    They laid off 8000 workers but I've rarely had a guy in the oil industry as a customer. A few engineers when I worked in Denver. I mostly make my money off of white collar guys not associated with oil.

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    Default Re: The oil field layoffs. Are they to blame?

    Fracking is too expensive for the oil companies. They've decided to mostly stop it for now. Fracking was happening mostly in Colorado, Wyoming, Texas and North Dakota. Clubs have been very affected by all of the layoffs.

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    Default Re: The oil field layoffs. Are they to blame?

    Maybe that's why Dallas isn't good right now. My friend told me this but I didn't think they did fracking there. I thought it was mostly the Dakotas and some other areas. I don't know i never really followed it.

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    Default Re: The oil field layoffs. Are they to blame?

    It's been affecting my income in my current town since we are so close to Dallas, we get a lot of roughneck, frackers, pipe workers, etc who have ties in with oil and a lot of them have been getting laid off and moving elsewhere like Odessa for work. Thankfully I have a few good regulars that are helping me coast. I hate living in Texas where oil is such a huge piece of the puzzle financially. :/

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    Default Re: The oil field layoffs. Are they to blame?

    Quote Originally Posted by michele11 View Post
    Maybe that's why Dallas isn't good right now. My friend told me this but I didn't think they did fracking there. I thought it was mostly the Dakotas and some other areas. I don't know i never really followed it.
    Texas is the number one oil state in the country. And the price of oil has dropped.

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    Default Re: The oil field layoffs. Are they to blame?

    Gas prices have risen in the last week out here back up to 2.43 a gal :/ I think oil is going back up
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    Default Re: The oil field layoffs. Are they to blame?

    ^ yes. I barely get gas because I fly but last week premium was 244 today 280. Kinda sucks because my next trip is the only place I drive. Oh well it was 4.00 last year.

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    Default Re: The oil field layoffs. Are they to blame?

    Gas prices are going up again? Time to get a Tesla!!! <3 <3 <3

    Bye-bye oil.
    "Dancing tables, making deals with devils like a drunk beauty queen"

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    Default Re: The oil field layoffs. Are they to blame?

    Quote Originally Posted by ScarletKitten View Post
    Gas prices are going up again? Time to get a Tesla!!! <3 <3 <3

    Bye-bye oil.
    I've already decided that I'm getting one in about 2-3 years. Way less maintenance and a lot of money saved in the end.
    Make Your Life Beautiful!

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    Default Re: The oil field layoffs. Are they to blame?

    Quote Originally Posted by michele11 View Post
    Maybe that's why Dallas isn't good right now. My friend told me this but I didn't think they did fracking there. I thought it was mostly the Dakotas and some other areas. I don't know i never really followed it.
    Yeah they do fracking in Texas. Mainly in west Texas , Odessa area and northern texas more towards Dallas and Oklahoma areas. Dallas would be affected more so with oil prices than Houston.
    Make Your Life Beautiful!

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    Default Re: The oil field layoffs. Are they to blame?

    Obama asks for more support to fight a conflict in the Middle East= oil prices going back up. IMO. If the next admin "carries the torch" with that plan, the prices might stay up.

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    Default Re: The oil field layoffs. Are they to blame?

    Oil prices aren't directly correlated with the price of gas (which is also made up of transportation costs, state and local taxes). And, the oil industry usually lags behind the price of oil. It's more accurate to look into the companies with major rigs in that area and see how much they are producing, since that will tell you how high or low their employment is right now. You can get that info in their 'stockholders' section on companies' websites or in earnings releases.

    In my experience, oil rigging men are used to being hired/laid off and hired again. The ones I've met are used to moving around often. I feel like it's more about where they are than how much they are earning at a given time. Their pay can be highly variable too since most of them work on short term contracts.

    I'm curious to see how Dallas is right now. Oil production is slowly increasing again and a lot of large companies have lowered their rig count and cut production to lower costs - which means higher salaries and more steady employment growth.

    Just my 2 cents as a dancer with a finance degree

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    Default Re: The oil field layoffs. Are they to blame?

    Oil prices aren't directly correlated with the price of gas (which is also made up of transportation costs, state and local taxes). And, the oil industry usually lags behind the price of oil. It's more accurate to look into the companies with major rigs in that area and see how much they are producing, since that will tell you how high or low their employment is right now. You can get that info in their 'stockholders' section on companies' websites or in earnings releases and also by searching for oilfield news on financial sites like forbes or seeking alpha.

    In my experience, oil rigging men are used to being hired/laid off and hired again. The ones I've met are used to moving around often. I feel like it's more about where they are than how much they are earning at a given time. Their pay can be highly variable too since most of them work on short term contracts.

    I'm curious to see how Dallas is right now. Oil production is slowly increasing again and a lot of large companies have lowered their rig count and cut production to lower costs - which means higher salaries and more steady employment growth.

    Just my 2 cents as a dancer with a finance degree

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    Banned Melonie's Avatar
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    Default Re: The oil field layoffs. Are they to blame?

    On the up side, oil prices are going back up. Probably back up to where they were at this time last year. Then the oil fields will be back to producing and the money will return for a while.
    I actually follow the price of crude oil and the US 'tight' oil industry rather closely since I have some oil related investments. The short version from industry analysts is this.

    Last year the price of oil was over $100. After cratering at $45 or so, oil has recovered to almost $60. But the all-in cost of exploring / drilling / transporting 'tight' formation based oil is something in the $80 range. Thus, from a short term financial standpoint, every 'tight' formation oil well which gets drilled is now a money loser. 'Tight' formation wells involve fracking, stripping, and other fairly expensive measures, and comprise the vast majority of recently drilled / new US oil wells. This is a different economic equation from the 'good ol days' of Texas / Oklahoma, or the present situation in Saudi Arabia, etc. where you could simply drill a hole in the right place and have crude oil gush out.

    However, when the price of oil tanked last fall, the oil drilling companies had service contracts in place with test & analysis firms, pipe suppliers, equipment suppliers, and a host of other 'support' industries which could not be instantly cancelled. I am told that 'support' industries actually account for 3 times as many jobs as oil workers themselves so this is a big deal. Similarly, oil drilling companies had lease contracts in place which required them to drill wells and produce oil to keep 'control' of the leased oil field territory in the future. And oil drilling companies also had lots of new wells 'in progress', having already invested more than half the total money needed for completion. So, while some oil drilling activities were immediately halted ( with the resulting loss of some oil field and 'support' jobs ), lots of oil drilling activities continued for these reasons.

    However, we're now at the point where service contracts are coming up for renewal, where a new 'season' of exploratory well drilling would normally commence, etc. But the oil drilling companies are choosing not to renew all of those service contracts, and are not committing money to very many new exploratory wells, because the market price of oil is still well below the $80 mark where they might be able to actually sell oil from their 'tight' formation wells at a break-even price. Thus the 'tight' oil industry job losses experienced so far are probably just a small part of the job losses which are likely to be seen going forward.

    As far as a turnaround, the US 'tight' formation wells already in production, and the 'in progress' new 'tight' formation wells which will be completed, are still turning out crude oil. There is also a record amount of crude oil in US storage facilities waiting to be refined. And, from a different viewpoint, the Saudis etc. are very happy to sell oil at $50-60 prices because their all-in cost of oil production is only something like $25 ! And, of course, US demand for oil ( and refined oil products like gasoline ) continues to drop as auto efficiency standards increase mpg, as environmental regulations cause oil fired processes to switch to cleaner natural gas, etc.

    Thus it's unlikely that oil prices are going to quickly rebound to the $80+ price level where US 'tight' formation wells would again become profitable. It's also similarly unlikely that investors ... who provided billions of dollars in loans to oil drilling companies which are now teetering on the verge of bankruptcy ... would agree to fund another wave of 'wildcat' oil drilling even if the price of crude oil did rise above $80 a barrel. And even if both of those unlikely things were to happen, it would still take months for oil drilling companies to make the necessary arrangements for starting up new oil drilling operations ( with associated oil field and 'support' jobs ).

    From a strip club customer standpoint, with the 'handwriting on the wall' that oil field jobs and 'support' jobs are going to continue to be lost, it would be expected that remaining oil field workers and 'support' workers would start saving as much of their paychecks as possible while they are still getting paychecks ... in expectation of many being forced to move soon as the result of impending layoffs after 'in progress' wells are completed and service contracts expire. This is likely to translate into a significant reduction in spending ... including strip club spending ... by those oil field workers and 'support' workers.

    Thus it would appear that any dancers who are working in a local economy which is heavily dependent on US 'tight' oil have really just begun to see the effects of crashing oil prices.
    Last edited by Melonie; 05-03-2015 at 08:00 AM.

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    Default Re: The oil field layoffs. Are they to blame?

    I want to see solar and wind power booming....
    Time to get a Tesla!!
    I won't comment on this topic because of the political overtones.

    But I will point out that the cost of the large tax credits / subsidies offered by state and local gov'ts for the purchase / manufacturing of these products primarily comes out of the pockets of the 'best' strip club customers i.e. doctors, accountants, engineers, bankers etc. The reason for this, of course, is that the tax revenues 'spent' on these tax credits / subsidies must be made up for by higher tax revenues being collected from 'somewhere else'. Obviously, these high earning strip club customers already pay the highest income taxes ( both rates and dollar amounts ), and have also been the primary target for recent tax increases.

    Or, stated another way, every dollar of additional tax money which is 'taken' from high earning strip club customers ( for the funding of 'green' tax credits / subsidies or any other reason ) may amount to one less dollar they will spend in strip clubs, thus providing one less future dollar in a dancer's pocket.
    Last edited by Melonie; 05-03-2015 at 08:05 AM.

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    Default Re: The oil field layoffs. Are they to blame?

    Quote Originally Posted by Melonie View Post
    every dollar of additional tax money which is 'taken' from high earning strip club customers ( for the funding of 'green' tax credits / subsidies or any other reason ) may amount to one less dollar they will spend in strip clubs, thus providing one less future dollar in a dancer's pocket.
    I don't care. I'd be willing to take a pay cut in order to help save this planet. The Earth is in extreme jeopardy, due to the careless industries that keep polluting it- the oil industry being one of the major contributors.

    To be blunt, it won't matter how rich anyone is, if the entire planet is dead and unable to support life anymore.

    Like the Native American saying goes: "When the last tree is cut down, the last fish eaten, and the last stream poisoned, you will realize that you cannot eat money."
    "Dancing tables, making deals with devils like a drunk beauty queen"

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    Default Re: The oil field layoffs. Are they to blame?

    I don't care. I'd be willing to take a pay cut in order to help save this planet. The Earth is in extreme jeopardy, due to the careless industries that keep polluting it- the oil industry being one of the major contributors.

    Again I won't comment because of the political overtones.

    However, I will point out that ... after enacting the strictest environmental regulations in the country ( with associated higher costs, job losses etc. ) ... California is still unable to meet it's air quality standards. The reason was identified to be pollution originating in China being blown eastward by the jet stream. See . Also, for every American gas engine car which is taken off the road by the purchase of a Tesla electric car, China is adding two gas engine cars. See

    My point is that your willingness to take a pay cut, and your implied willingness to force other US dancers to take a pay cut, by imposing higher taxes on your 'best' strip club customers, may not actually accomplish anything except having less money in your purse when the club closes at the end of the night.
    Last edited by Melonie; 05-03-2015 at 08:54 AM.

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    Default Re: The oil field layoffs. Are they to blame?

    ^^Well, this is something the entire world needs to work on together. As a human race, we have alot of work to do in order to reverse things like climate change, pollution, etc. The problem is, it's going to take a global disaster to get everyone to wake the fuck up.

    But that topic is for another thread.

    I just don't think it's a good idea to rely on an industry that is not sustainable.
    "Dancing tables, making deals with devils like a drunk beauty queen"

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    Default Re: The oil field layoffs. Are they to blame?

    I just don't think it's a good idea to rely on an industry that is not sustainable
    Actually, on a global basis, the oil industry is entirely sustainable ... at least for the next few decades. Low cost producers like Saudi, Iran, Russia etc. can continue to supply oil at a profit at $50-60 prices for decades. And demand for 'working class' possessions like cars, thus demand for oil and refined oil products like gasoline, continues to grow rapidly in China, India etc. These facts prompted me to reallocate my oil industry investments into ( mostly European ) oil companies which are major players in Saudi, Iran, Russia etc.

    It is really only the highest cost producers, i.e. US 'tight' oil, Canadian 'shale' oil, etc. which aren't sustainable. Thus it will be those particular US and Canadian dancers whose earnings are heavily tied to the fate of the US and Canadian oil industry who are likely to find that their prior dancing earnings levels are unsustainable going forward.
    Last edited by Melonie; 05-03-2015 at 10:26 AM.

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    Default Re: The oil field layoffs. Are they to blame?

    ^^No, the oil industry is NOT sustainable, in any sense of the word. First of all, this planet does NOT have an unlimited supply of oil. All that oil is made by fossil fuels. Humans are burning it up WAY faster than the planet can make it. That is the very definition of unsustainable. Not to mention that it is very damaging to the planet just extracting the oil. Burning it up so we can transport ourselves is contributing to climate change and pollution. And all the oil spills, like the BP disaster, is causing the oceans to die a slow death.

    I recommend you watch some documentaries such as "A Crude Awakening: The Oil Crash".
    "Dancing tables, making deals with devils like a drunk beauty queen"

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