And there was much rejoicing in the land.... Gas Prices

[Mike]

Is today REPOST Thursday?

Awww poor guy got his feathers all ruffled. Spend some time trying to unstupid yourself man...life will improve for you...I promise.

[Rick Modena]

^^^

Ooooo, sic bUrn...

[lowthreeohz]

^^^

Ooooo, sic bUrn...

^^ missed it lol

[Ruffdaddy]

Awww poor guy got his feathers all ruffled. Spend some time trying to unstupid yourself man...life will improve for you...I promise.

I agree

[Mike]

^^ missed it lol

I was disappointed.

[Rick Modena]

I was disappointed.

I didn't miss it big daddy, I'm the originator of REPOST Thursday...

[Mike]

I didn't miss it big daddy, I'm the originator of REPOST Thursday...

Is today REPOST Thursday?

[8mpg]

Well... I guess Im near sighted in all this. The O/G industry doesnt effect me directly. The economy is better than it was but short of where it should be. I spent $40 filling up my F250 with diesel today and wanted to jump up and down. For me, this is good.

Honestly though, no one saw this coming? The market was artificially inflated with oil skyrocketing (ie fucking us in the ass) with $140/bbl of oil just a few years ago. This is all cyclical and will balance out eventually. Id rather see a nice and consistent market rather than this ups and downs shit though.

[Strychnine]

Posted in the jobs thread since the question was asked there, but i'll put it here to compile info:

Schlumberger laying off big #s here

Any idea how many?

"In response to lower commodity pricing and anticipated lower exploration and production spending in 2015, Schlumberger decided to reduce its overall headcount to better align with anticipated activity levels for 2015. Schlumberger recorded a $296 million charge associated with a headcount reduction of approximately 9,000."

“In this uncertain environment, we continue to focus on what we can control. We have already taken a number of actions to restructure and resize our organization that has led us to record a number of charges in the fourth quarter. We are convinced that performance must now be driven by an accelerated change in the way we work through our transformation program."

That's about 7% of their workforce, and the biggest cut so far in the industry.


SLB is hosting a call at 7am central to discuss that statement above.
To listen in call (800) 230-1085 and ask for the "Schlumberger Earnings Conference Call."

[HarrisonTX]

Was working at a frac pump manufacturer this week. They laid off 20% of their work force with more coming next week. Ouch

[Broncojohnny]

The pain begins. If it goes below $40, things are going to get real interesting.

I like how the spread between WTI and Brent has collapsed.

I want to see the Baker Hughes rig count tomorrow

[Strychnine]

My guess is -75.

[YALE]

This mess is Malthusian.

[slow99]

Well... I guess Im near sighted in all this. The O/G industry doesnt effect me directly. The economy is better than it was but short of where it should be. I spent $40 filling up my F250 with diesel today and wanted to jump up and down. For me, this is good.

Honestly though, no one saw this coming? The market was artificially inflated with oil skyrocketing (ie fucking us in the ass) with $140/bbl of oil just a few years ago. This is all cyclical and will balance out eventually. Id rather see a nice and consistent market rather than this ups and downs shit though.

Price of oil exhibits heightened volatility largely because supply and demand are influenced by the same factors. Picture a p and q supply and demand model where the supply and demand curves are moving simultaneously. The p becomes extremely volatile.

[BradM]

This mess is Malthusian.

God bless you.