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Old 10-29-2014, 06:41 AM
 
222 posts, read 447,524 times
Reputation: 99

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Quote:
Originally Posted by Htown2013 View Post
If a few of the fledgling O&G firms cease production, supply will decrease and bring prices to equilibrium.

thats not necessarily what I meant.... Houston is the O&G engineering and design capital of the work. Everything from the EPC aspect of offshore platforms, onshore production facilities, pipelines, midstream and downstream plants. They almost all get designed, engineered and upgraded right here in Houston. With the low oil prices these jobs dry up, no one wants to build a new plant or upgrade one when the profit is not there. The oil prices will I believe will drop even more with the latest Saudi play and I imagine we will see a year or two of lows..... This will cripple the Houston economy just like it did in 2008-2009.
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Old 10-29-2014, 09:38 AM
 
12,733 posts, read 21,646,540 times
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Quote:
Originally Posted by p0opstlnksal0t View Post
thats not necessarily what I meant.... Houston is the O&G engineering and design capital of the work. Everything from the EPC aspect of offshore platforms, onshore production facilities, pipelines, midstream and downstream plants. They almost all get designed, engineered and upgraded right here in Houston. With the low oil prices these jobs dry up, no one wants to build a new plant or upgrade one when the profit is not there. The oil prices will I believe will drop even more with the latest Saudi play and I imagine we will see a year or two of lows..... This will cripple the Houston economy just like it did in 2008-2009.
During this time, Houston still fared better than the majority of the country economic wise.
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Old 10-29-2014, 09:43 AM
 
222 posts, read 447,524 times
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Quote:
Originally Posted by SouthernBoy205 View Post
During this time, Houston still fared better than the majority of the country economic wise.

Yes that's true but in the grand scheme of "Houston economics", it was a major downturn. Houston really doesn't fit in any country wide economic trends, it generally makes its own trends.
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Old 10-29-2014, 09:47 AM
 
12,733 posts, read 21,646,540 times
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Quote:
Originally Posted by p0opstlnksal0t View Post
Yes that's true but in the grand scheme of "Houston economics", it was a major downturn. Houston really doesn't fit in any country wide economic trends, it generally makes its own trends.
This statement really tells how huge Houston really is and how far ahead of most cities it is.

I'm not worried then. Some people are making this out to be way worse than what it is.
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Old 10-29-2014, 10:08 AM
 
Location: Houston, TX
8,891 posts, read 19,889,370 times
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If you work for one of the O&g companies that knows how to operate lean and mean during the downturns, you won't feel much of the impact except smaller and less frequent salary increases. When times are bad, things get really bad and when they are good, they are really good. You have to table to ride the wave with your O&g job and wait for it to come back up. Historically it always has.
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Old 10-29-2014, 10:14 AM
 
1,501 posts, read 1,751,659 times
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Exactly. A lot of companies cannot sustain when oil prices go down. And even more will fail when prices stay down.

Quote:
Originally Posted by texas7 View Post
If you work for one of the O&g companies that knows how to operate lean and mean during the downturns, you won't feel much of the impact except smaller and less frequent salary increases. When times are bad, things get really bad and when they are good, they are really good. You have to table to ride the wave with your O&g job and wait for it to come back up. Historically it always has.
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Old 10-29-2014, 10:20 AM
 
1,501 posts, read 1,751,659 times
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Sure, but can you imagine what would have happened if home prices were higher? Homes were much cheaper in 2008 and 2009 and that really helped.


Quote:
Originally Posted by SouthernBoy205 View Post
During this time, Houston still fared better than the majority of the country economic wise.
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Old 10-29-2014, 10:22 AM
 
222 posts, read 447,524 times
Reputation: 99
Quote:
Originally Posted by texas7 View Post
If you work for one of the O&g companies that knows how to operate lean and mean during the downturns, you won't feel much of the impact except smaller and less frequent salary increases. When times are bad, things get really bad and when they are good, they are really good. You have to table to ride the wave with your O&g job and wait for it to come back up. Historically it always has.
Lean and mean is code word for crappy rates and crappy work.
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Old 10-29-2014, 10:28 AM
 
Location: Houston, TX
8,891 posts, read 19,889,370 times
Reputation: 6360
It happens. And if you can run with it, it pays off when the better times return. It's also those companies that remain standing tops in their industry at the end of down times.
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Old 10-29-2014, 10:35 AM
 
222 posts, read 447,524 times
Reputation: 99
I worked for two places similar to what you describe in 2008-2009. Both are to this day considered crap holes to work at and both get bottom of the barrel work. Both were majority pipeline and midstream firms.
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