Energy Industry Layoffs and Strikes (Houston, Cool: bankruptcy, shops, title)

[IamPetty]

Originally Posted by War Beagle

I just don't see the American and European regulators letting this happen. First of all, BP is a flagship firm for the UK, so I would guess there would be nationalist-based opposition. Secondly and more importantly, we are getting too close to a Standard Oil type situation again. I'm still amazed Exxon/Mobil went through.

Will it happen? Who know? Can it happen? Absolutely it can. As you said with the Exxon/Mobil merger you are amazed that it happened, well that's evidence in and of itself that these things do happen...nationalist-based opposition aside.

[Oildog]

Looks like Motiva (Shell/Aramco) plants in Pt. Arthur, Convent & Norco walk at midnight.

[Nugget_Brain]

We moved here a year ago for *possible* job opportunities for my husband. I took a voluntary transfer and we lived off my income for 6 months while my husband found a job. He got a job as a petchem market analyst for a teeny tiny company that was just starting out. BIG mistake. He made it about 6 months before they let him go and started emergency measures to try to save the company (it's not looking good).

Luckily: we had saved about 75% of his new paycheck for the last 6 months. We had enough to supplement my income for the next 18 months if necessary.

Unluckily: we FINALLY felt stable enough to buy a home. A month and a half before the lay off.

Luckily: we didn't completely blow the budget and we could afford the mortgage on my income alone.

Bad timing: we also finally felt stable enough to start our family. He got laid off with me being 7 months pregnant. THAT was the stressful part.

He just got a job offer yesterday with one of the hospital systems, doing something radically different, but much much more in line with his degree and what he actually wanted to do. He did take a small paycut, but at least it's a job! By the time he actually starts, he will have been out of work for about a month and a half.

[texasroots77]

Sorry to hear about your struggles! Good for you guys for being conservative with your finances and home purchase. Their is never a "perfect" time to start your family. Congrats on your upcoming arrival! Your precious baby and family is what is most important.

[ethanw]

So I just got back from my 3 weeks world tour and walk right into a shiZe hole. My "fattest" customer is about to unload 10-13K heads. Yes you heard that right. The fat explains the size of the cut (read between the lines). But coming from CVX is a major surprise to me. A 20-30-40% cut scenario never crossed me mind from such player with a solid checkbook. This is really BAD if it executes. Watch the news....

[RickyInDeerPark]

And to think people went on strike at this time. What are they thinking?

[lipbalm]

Originally Posted by RickyInDeerPark

And to think people went on strike at this time. What are they thinking?

Those guys are downstream, I am guessing low feedstock price is actually a good thing for them.

[RickyInDeerPark]

A lighthearted look at the strike:


https://www.youtube.com/watch?v=rd3TzyX3wuU

[theking_z]

Originally Posted by ethanw

So I just got back from my 3 weeks world tour and walk right into a shiZe hole. My "fattest" customer is about to unload 10-13K heads. Yes you heard that right. The fat explains the size of the cut (read between the lines). But coming from CVX is a major surprise to me. A 20-30-40% cut scenario never crossed me mind from such player with a solid checkbook. This is really BAD if it executes. Watch the news....

CVX cutting 10-13K heads? What is the source of this news? Didn't see anything anywhere.

[ethanw]

You will soon. Insider for now

Originally Posted by theking_z

CVX cutting 10-13K heads? What is the source of this news? Didn't see anything anywhere.