Energy Industry Layoffs and Strikes (Houston, Plano: foreclosures, crime, unemployment benefits)

[LocalPlanner]

Originally Posted by swopoe

So seriously is everyone in O&G going to lose their jobs?

No, but there will be substantial layoffs at the oil field service companies (Halliburton / Schlumberger / Baker Hughes / Technip FMC and the smaller firms) - in fact those are already starting. Manufacturers for upstream and drilling will lay off as well.

The independent oil companies that go bankrupt will obviously have layoffs. The ones that get bought will also lay off at least some people. The major oil companies will likely have some layoffs though more drawn out over time. Engineering firms will lay off contract workers first, as project contracts expire, then direct employees.

Not everyone is going to lose their jobs, and there will be some hiring back once demand improves, but the industry in Houston is almost certain to be smaller once it restabilizes. Maybe a lot smaller.

[swopoe]

Originally Posted by LocalPlanner

No, but there will be substantial layoffs at the oil field service companies (Halliburton / Schlumberger / Baker Hughes / Technip FMC and the smaller firms) - in fact those are already starting. Manufacturers for upstream and drilling will lay off as well.

The independent oil companies that go bankrupt will obviously have layoffs. The ones that get bought will also lay off at least some people. The major oil companies will likely have some layoffs though more drawn out over time. Engineering firms will lay off contract workers first, as project contracts expire, then direct employees.

Not everyone is going to lose their jobs, and there will be some hiring back once demand improves, but the industry in Houston is almost certain to be smaller once it restabilizes. Maybe a lot smaller.

Thank you. I appreciate it.

[lipbalm]

Shale oil needs to die, if Biden wins nobody outside of Midland will care when he takes it to the woodshed and shoots it like old yeller.

[Redlionjr]

Bill Gilmer, an economist from UofH said with an unemployment rate of 10% projected to hit Houston by the end of the month he predicts this will be worst than the 80s.

https://www.houstonchronicle.com/bus...p-15212810.php

[As Above So Below...]

Originally Posted by lipbalm

Shale oil needs to die, if Biden wins nobody outside of Midland will care when he takes it to the woodshed and shoots it like old yeller.

That would create massive job losses in Houston so I would think people here would care.

[ParaguaneroSwag]

Originally Posted by LocalPlanner

No one has explained why DFW suburbs are "better" than Houston suburbs - though this claim gets made repeatedly. The only differences to me are that they are largely all adjacent to each other in one part of the metro and they have more walkable town center developments (admittedly that is a plus, to me at least). In contrast, Houston's suburban arrangement makes it more possible to integrate working and middle class workers in among the more affluent, which is a positive.

For the purposes that we are talking about, which is corporate friendliness, they are. Other than the Woodlands, there isn’t a suburb in Houston that can compete with Plano, Irving or Frisco in terms of being a hotspot for corporate activity. The current trend has corporations looking for suburban areas with a mixed use of land availability and top notch office space. In terms of specifically suburbs, only the Woodlands competes with those. Even though it’s not technically a suburb, the Memorial/Energy Corridor area also fills this description. But overall, DFW suburbs are better built this way.

[Johnhw2]

Originally Posted by LocalPlanner

No one has explained why DFW suburbs are "better" than Houston suburbs - though this claim gets made repeatedly. The only differences to me are that they are largely all adjacent to each other in one part of the metro and they have more walkable town center developments (admittedly that is a plus, to me at least). In contrast, Houston's suburban arrangement makes it more possible to integrate working and middle class workers in among the more affluent, which is a positive.

I gave you specific reasons.

[WRM20]

Originally Posted by ParaguaneroSwag

For the purposes that we are talking about, which is corporate friendliness, they are. Other than the Woodlands, there isn’t a suburb in Houston that can compete with Plano, Irving or Frisco in terms of being a hotspot for corporate activity. The current trend has corporations looking for suburban areas with a mixed use of land availability and top notch office space. In terms of specifically suburbs, only the Woodlands competes with those. Even though it’s not technically a suburb, the Memorial/Energy Corridor area also fills this description. But overall, DFW suburbs are better built this way.

Problem is, many of those DFW suburbs don't have much land available, as they all are nearly done developing the last few square feet of open land.

[Redlionjr]

Originally Posted by LocalPlanner

No one has explained why DFW suburbs are "better" than Houston suburbs - though this claim gets made repeatedly. The only differences to me are that they are largely all adjacent to each other in one part of the metro and they have more walkable town center developments (admittedly that is a plus, to me at least). In contrast, Houston's suburban arrangement makes it more possible to integrate working and middle class workers in among the more affluent, which is a positive.

For me, DFW suburbs are generally better because they feel more like cities with their own identities moreso than Houston suburbs. Suburbs in DFW generally have better infrastructure and amenities than Houston Burbs imo. Houston does have The Woodlands and Katy/SugarLand. I really feel like the burbs west of Houston (not Northwest) are the closest thing to DFW North burbs as far as amenities/concentrated area/infrastructure. What kills it for me is there’s so much unincorporated areas in Houston’s burbs that it gives it this underdeveloped look in between bland subdivisions and shopping centers.

[ParaguaneroSwag]

Originally Posted by WRM20

Problem is, many of those DFW suburbs don't have much land available, as they all are nearly done developing the last few square feet of open land.

Yes. And you’ll likely see a slow down in the HQ moves to North Texas craze because of this.