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Old 11-18-2014, 05:55 AM
 
222 posts, read 450,564 times
Reputation: 99

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Mustang Engineering, fluor, Worley Parsons, Jacobs and a few others I know of all laying off or recently underwent major layoffs. It is the end of the year and it always slows down this time of year but the low oil prices will definitely be effecting things. Dont let the real estate agents and those that can potentially turn a buck off of you jumping into a house now blow smoke up your a$$. The boom will slow next year and potentially we may see the bottom fall out. I would keep saving up cash and wait until you know how the O&G employment will be next year. If the bottom falls out then housing prices will drop drastically and you could potentially save a small fortune.
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Old 11-18-2014, 05:59 AM
 
222 posts, read 450,564 times
Reputation: 99
Quote:
Originally Posted by PDXNative2Houston View Post
Services companies will take a hit, but the E&P folks are mostly hedged out (price fixed) for 5+ years at $90 a barrel of oil or more. This drop is nothing but the eb and flow of global demand and supply. We'll stop drilling, slow production, supply will go down...global demand will go up due to the low pricing, and prices will rise again.

Similar to this, what happened with those people saying that we'd see permanently depressed real estate prices after the crash in 08'?
Youre right, I do see a drop coming soon. I personally would keep saving up and when the bottom falls out and home prices come back down, then you buy. Then again you may pay slightly higher on you interest rate... That will even out if you have more cash saved up to put down.
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Old 11-18-2014, 06:33 AM
 
12,735 posts, read 21,779,367 times
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To me, it sounds like some of y'all are wishing that something bad happens.
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Old 11-18-2014, 06:39 AM
 
Location: Mo City, TX
1,728 posts, read 3,442,958 times
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It's always important to have a plan B, or even C. Because you never know.
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Old 11-18-2014, 07:32 AM
 
288 posts, read 433,926 times
Reputation: 340
Quote:
Originally Posted by SouthernBoy205 View Post
To me, it sounds like some of y'all are wishing that something bad happens.
There's a big difference between sunshine pumping/optimist, and the cautious.

Didn't you start a thread a while back on why so many people were being cautious with the oil boom? Its very cyclical and almost Vegas like.
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Old 11-18-2014, 07:38 AM
 
671 posts, read 890,627 times
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Oil prices aren't going to go up...USA policy is to flood the globe and keep oil prices down for it's economic war on Russia and to cripple the economy of the middle east.
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Old 11-18-2014, 07:50 AM
 
12,735 posts, read 21,779,367 times
Reputation: 3774
Quote:
Originally Posted by Scientific View Post
There's a big difference between sunshine pumping/optimist, and the cautious.

Didn't you start a thread a while back on why so many people were being cautious with the oil boom? Its very cyclical and almost Vegas like.
Well, you weren't one of the people who I was referring to.
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Old 11-18-2014, 08:06 AM
 
222 posts, read 450,564 times
Reputation: 99
Quote:
Originally Posted by SouthernBoy205 View Post
To me, it sounds like some of y'all are wishing that something bad happens.

To me, it sounds like some of y'all are way too overzealous with this latest boom. Its not like this hasn't happened before....
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Old 11-18-2014, 11:11 AM
 
18,130 posts, read 25,286,567 times
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Quote:
Originally Posted by lipbalm View Post
It's always important to have a plan B, or even C. Because you never know.
Don't need a plan B when you are an electrical engineer
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Old 11-19-2014, 12:56 PM
 
259 posts, read 510,468 times
Reputation: 246
Quote:
Originally Posted by SouthernBoy205 View Post
To me, it sounds like some of y'all are wishing that something bad happens.
Yeah, there's a weird relationship with the Petro industry and the overall community in the Houston area. Everybody knows the amount of money involved with a career in the industry and there are people not in the in the industry who seem to almost revel when the industry goes through its challenges.

Very few workers in other industries get the same amount of flack than P&G. It's funny because whenever I tell a person the career path I'm on they almost always mention how "rich" I'm going to be. I ALWAYS downplay it, because it's almost embarrassing. Goodness forbid I actually like the type of work I'll be doing. Not everyone is so mercenary.
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