For youngsters: Texas in 1982. Oil Boom was in full swing.

8,176 Views | 125 Replies | Last: 1 day ago by A. G. Pennypacker
Keyno
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aggiehawg said:

Keyno said:

Thank you for the reminder of how far this country has fallen I guess. I am glad you enjoyed the good days

My point in posting these look backs in time is to remind people that we as collective Americans are different and always have been. One can call it American Exceptionalism with an implied diving intervention or just American Exceptionalism as defined by our founding. How our very unique Constitution has (mostly) maintained those manifest differences.

Do the idiots get a lot of screen time to spew their nonsense while the rest of us just go about our days living our unique American lives? Is it really all doom and gloom for the future?

Or is that more similar to the propaganda utilized by the enemies of the US such as was employed during WWII? Several months back, I started a thread about WWII POWs held in the states were actually treated as opposed to how they had been trained to expect. Compare the treatment to German, Italian and Japanese POWs here to American and other Ally POWS in those countries (except for Italy few POW camps there.)

We were and are different. Trump's election and reelection show there are still enough Americans who believe in freedom granted by our Republic and Founders as their core beliefs.

In 1968, Nixon called them "The Silent Majority" and they showed up at the ballot box. In 1972, they showed up in droves. Same with Reagan in 1984.

So has America really gone away from American Exceptionalism (however one defines it)? Or is the pendulum just swinging back to normal? Is a dystopian future the ONLY future for our country? Obviously, I don't think so because there are still enough people who remember what such freedom and fun feels like. Such as on this thread. Yes many had economic setbacks but persevered through the tough times and got through it.

Well the demographics have shifted MASSIVELY and "magic dirt" theory has not proven to be true so here we are
Cinco Ranch Aggie
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schmellba99 said:

Tex117 said:

aggiehawg said:

Since I was in law school back then but essentially living on my own, what a time! Then it all just crashed.

For those who were not around then, enjoy.


I mean....still pretty similar today.

But that bust was VERY real. Moreover, it came at a time where the entire economy as shifting from traditional assets, like real estate and oil, to the stock market.

The 80s are really a lost decade in Texas. And it took until the 90s for things to turn back around.

Not entirely. I grew up in Lake Jackson, big chemical plant town. The 80's were pretty good in that industry. Mid 90's weren't so comfortable there though, there was a significant downturn in the petroleum byproducts sector and Dow laid off about 1/3 of the workforce there. That one hit our area hard.

I grew up in Lake Jackson as well, 70s-mid80s before leaving for Aggieland. Even during the downturn in the national economy, I never saw any impact in Lake Jackson.
aggiehawg
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Quote:

Well the demographics have shifted MASSIVELY and "magic dirt" theory has not proven to be true so here we are

And demographics can shift again. I watch a lot of European podcasts about their perceptions and reactions to the US, such as food, music, movies, etc. But what always amazes them the most about Americans is how patriotic we are. Flags everywhere, national anthem at sporting events and second is how friendly we are to complete strangers. Our wait staff are way nicer and accommodating than those in Europe. Just more welcoming.

And that is a lot of my point. Yeah, we have changed but in many ways, we have not changed that much.
BrazosDog02
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Man, good times. My old man got some obscure job at Halliburton in the late 70's right for the oil boom. Fresh out of the Marines, a partial degree from SWT, hired right on. My mom got a job at Halliburton with my dad. Dual 6 figure incomes, they got two brand new Cadillacs, and then took the company car to Oklahoma or west texas to the rigs as needed.....it was lit. I didn't know it, but it was.

Early 90's....he and his peers got canned....retirement was depleted...he never recovered...he is in his late 80's now, sold part of his property to pay his bills, owes back taxes on a few properties, drinks like it's going out of style, mom died, he told us all to pound sand and my sis and I haven't heard from him in years.

Many lessons learned for me. Don't waste your money, and don't get egotistical and think you have to stay in your industry if you get canned. Pivot. Make it work. Booms die. I got into O&G 20 years ago at the time when oil was over 100/bbl, recruiters were blowing up my office phone, we put a life savings in both kids accounts, retirement for the wife and I, bought a house and a ranch and a couple new trucks.......and then it took a dump a short decade later. I lost my job and my friends. It was at that exact moment that I too realized I was doing the same thing my dad did and I did not want to have the same end result. Haven't bought a new truck in 20 years out of fear and we sold everything we could to start a couple of our own businesses. Everything I've done is out of fear of ending up like my old man.
Keyno
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aggiehawg said:

Quote:

Well the demographics have shifted MASSIVELY and "magic dirt" theory has not proven to be true so here we are

And demographics can shift again. I watch a lot of European podcasts about their perceptions and reactions to the US, such as food, music, movies, etc. But what always amazes them the most about Americans is how patriotic we are. Flags everywhere, national anthem at sporting events and second is how friendly we are to complete strangers. Our wait staff are way nicer and accommodating than those in Europe. Just more welcoming.

And that is a lot of my point. Yeah, we have changed but in many ways, we have not changed that much.

We haven't changed that much since 1982?

Out of respect for you I will hold back.

AgDad121619
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spud1910 said:

AgDad121619 said:

JamesE4 said:

Was in my junior year at A&M. But the 80s bust was already underway in summer 1982. I couldn't get a good summer internship so I got a summer job at the new McDonald's on SW parkway and business 6.

When I graduated in Chemical Engineering in May 1983, less than 10% of us had a professional job to go to. I was in the 90% majority.

i was ChE in '85. Didn't find a job until 8 'month after graduation so I worked my McDonalds mgr job while looking for a permanent ChE. A few months after being hired into a paper mill, the mill manager said he hired me because I was willing to work at MCDs with ChE degree - said I had to be hard worker if I was willing to do that. Been making paper for 40 years now once I got that first job.

You didn't happen to bake chocolate chip cookies in your cast iron skiller for the first semester engineering class for ChE majors in the fall of 1981 did you? One of the few things I remember from that class.
no - not me. I unfortunately didn't choose A&M out of HS and transferred in fall '82.
txyaloo
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BTKAG97 said:

rocky the dog said:



That pic could be from 1999. Believe it or not.

Valero branded gas stations didn't start popping up in Texas until they bought Diamond Shamrock in 2000 or 2001.
techno-ag
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Cinco Ranch Aggie said:

schmellba99 said:

Tex117 said:

aggiehawg said:

Since I was in law school back then but essentially living on my own, what a time! Then it all just crashed.

For those who were not around then, enjoy.


I mean....still pretty similar today.

But that bust was VERY real. Moreover, it came at a time where the entire economy as shifting from traditional assets, like real estate and oil, to the stock market.

The 80s are really a lost decade in Texas. And it took until the 90s for things to turn back around.

Not entirely. I grew up in Lake Jackson, big chemical plant town. The 80's were pretty good in that industry. Mid 90's weren't so comfortable there though, there was a significant downturn in the petroleum byproducts sector and Dow laid off about 1/3 of the workforce there. That one hit our area hard.

I grew up in Lake Jackson as well, 70s-mid80s before leaving for Aggieland. Even during the downturn in the national economy, I never saw any impact in Lake Jackson.

~~~ooo~~~/ They all told us Wall Street fell
We was so poor we couldn't tell ~~~~
The left cannot kill the Spirit of Charlie Kirk.
spud1910
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AgDad121619 said:

spud1910 said:

AgDad121619 said:

JamesE4 said:

Was in my junior year at A&M. But the 80s bust was already underway in summer 1982. I couldn't get a good summer internship so I got a summer job at the new McDonald's on SW parkway and business 6.

When I graduated in Chemical Engineering in May 1983, less than 10% of us had a professional job to go to. I was in the 90% majority.

i was ChE in '85. Didn't find a job until 8 'month after graduation so I worked my McDonalds mgr job while looking for a permanent ChE. A few months after being hired into a paper mill, the mill manager said he hired me because I was willing to work at MCDs with ChE degree - said I had to be hard worker if I was willing to do that. Been making paper for 40 years now once I got that first job.

You didn't happen to bake chocolate chip cookies in your cast iron skiller for the first semester engineering class for ChE majors in the fall of 1981 did you? One of the few things I remember from that class.

no - not me. I unfortunately didn't choose A&M out of HS and transferred in fall '82.

Shot in the dark, but sometimes it is a small world. I am a veterinarian now. A few years ago my wife needed an orthopedic surgery and I noticed the surgeon's Aggie ring. We both started as ChE in the fall of '81 so might have actually met, then meet up in completely unrelated fields about 40 years later.
CentralTXag
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I graduated high school in 1982 and entered A&M as a PETE (petroleum engineering) major. Heard a lot about the "good times" in the oil patch, but saw less and less of them during my time at A&M. Graduated in 1986 with my PETE degree and had a job offer with a major that I'm retiring from next week after 40 years. Oil industry has been a wild ride, but good to me overall, but has taken its toll on a lot of people. I walked across the stage with 154 other PETE grads in 1986, and I think less than 10 of us had job offeres with a major oil company. Oil dropped from the 20's to $10/bbl over Christmas break and I always viewed that as the "bust", but when I got out to west Texas I realized the bust for them occurred in 1982 when oil quit going up and all of their business plans based on oil reaching $100/bbl went up in smoke!
aggiehawg
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Quote:

always viewed that as the "bust", but when I got out to west Texas I realized the bust for them occurred in 1982 when oil quit going up and all of their business plans based on oil reaching $100/bbl went up in smoke!

Vertical organization can bite in the butt when projections are that far off.
AgDad121619
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CentralTXag said:

I graduated high school in 1982 and entered A&M as a PETE (petroleum engineering) major. Heard a lot about the "good times" in the oil patch, but saw less and less of them during my time at A&M. Graduated in 1986 with my PETE degree and had a job offer with a major that I'm retiring from next week after 40 years. Oil industry has been a wild ride, but good to me overall, but has taken its toll on a lot of people. I walked across the stage with 154 other PETE grads in 1986, and I think less than 10 of us had job offeres with a major oil company. Oil dropped from the 20's to $10/bbl over Christmas break and I always viewed that as the "bust", but when I got out to west Texas I realized the bust for them occurred in 1982 when oil quit going up and all of their business plans based on oil reaching $100/bbl went up in smoke!
I had several buddies who were PetE '85 and they all told a story that in their first PetE class, the prof walked in and asked them to look around and pick the 2 of them that would get a job in PE in 4 years when they graduated. And he ended up being spot on with that prediction. You must have been top of the class to be in that employed group. When I transferred in I thought hard about PetE but decided I would have more options as a ChE. Turned out to be a great decision
A. G. Pennypacker
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CanyonAg77 said:

But if it is an open top tank, it would never float, as no matter how much standing water was around the tank, the tank would have added an equal amount of water inside.

Trick question.

Unless the tank is located in a low area that the storm water is flowing into.
A. G. Pennypacker
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schmellba99 said:

Tex117 said:

aggiehawg said:

Since I was in law school back then but essentially living on my own, what a time! Then it all just crashed.

For those who were not around then, enjoy.


I mean....still pretty similar today.

But that bust was VERY real. Moreover, it came at a time where the entire economy as shifting from traditional assets, like real estate and oil, to the stock market.

The 80s are really a lost decade in Texas. And it took until the 90s for things to turn back around.

Not entirely. I grew up in Lake Jackson, big chemical plant town. The 80's were pretty good in that industry. Mid 90's weren't so comfortable there though, there was a significant downturn in the petroleum byproducts sector and Dow laid off about 1/3 of the workforce there. That one hit our area hard.

I'm from Lake Jackson too. Thought I would eventually return and work for Dow after getting my ChE, but in '86 they weren't hiring - unless you were top of your class and that wasn't me. :-)
CanyonAg77
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A. G. Pennypacker said:

CanyonAg77 said:

But if it is an open top tank, it would never float, as no matter how much standing water was around the tank, the tank would have added an equal amount of water inside.

Trick question.

Unless the tank is located in a low area that the storm water is flowing into.

Explain to me how a steel tank full of water can ever float
Martin Cash
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Started writing Division Order Title Opinions in '82.
aggiehawg
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Quote:

Explain to me how a steel tank full of water can ever float

Ask Bruce Ismay of the Titanic. "This ship can't sink!"

Mr. Andrews, engineer, "It's made of iron. I assure it can and will sink."
A. G. Pennypacker
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CanyonAg77 said:

A. G. Pennypacker said:

CanyonAg77 said:

But if it is an open top tank, it would never float, as no matter how much standing water was around the tank, the tank would have added an equal amount of water inside.

Trick question.

Unless the tank is located in a low area that the storm water is flowing into.

Explain to me how a steel tank full of water can ever float

If the tank were full of water, than no it wouldn't float. But that's not what I was saying. As the problem states the tank is 30' tall and 38% full of crude (about 11.5'). Let's say it rains 6" and all the runoff from the surrounding area flows into a low area where the tank is located, such that there is more than 12' of water depth in the location where the tank is located (probably unlikely someone would build the tank in a hole). If the tank is open top, it only takes on 6" of water to add to the 11.5' oil. Since specific gravity of WTI crude is about 0.83 you would have 12' of liquid in the tank and 12' of heavier liquid outside the tank. I'm not going to calculate the weight of the steel, but eventually the tank would float if the water continued to rise.
EclipseAg
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A. G. Pennypacker said:

schmellba99 said:

Tex117 said:

aggiehawg said:

Since I was in law school back then but essentially living on my own, what a time! Then it all just crashed.

For those who were not around then, enjoy.


I mean....still pretty similar today.

But that bust was VERY real. Moreover, it came at a time where the entire economy as shifting from traditional assets, like real estate and oil, to the stock market.

The 80s are really a lost decade in Texas. And it took until the 90s for things to turn back around.

Not entirely. I grew up in Lake Jackson, big chemical plant town. The 80's were pretty good in that industry. Mid 90's weren't so comfortable there though, there was a significant downturn in the petroleum byproducts sector and Dow laid off about 1/3 of the workforce there. That one hit our area hard.

I'm from Lake Jackson too. Thought I would eventually return and work for Dow after getting my ChE, but in '86 they weren't hiring - unless you were top of your class and that wasn't me. :-)

I moved to Lake Jackson in July 1984, and Dow had recently been through a layoff where a lot of older employees were let go. My boss's husband was one of those.

But many of them were hired back as consultants or contractors so it didn't seem to hurt the economy much. But of course I was just a pup and not really attuned to the ebb and flow of local economics. Mostly I just wanted to move away. LOL.
Desert Ag
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I remember coming out of grad school in '84 and researching the banking biz finding that the 5 highest earning banks in the country (measured by ROA) were all Texas Banks (Republic Bank, Interfirst, Texas Commerce, Mercantile and First City). Sounded like a good opportunity so I took a job with Republic. By the end of the eighties they had all failed or been acquired to avoid failure (from a combo of bad o&g and CRE loans). Fun times indeed.
A. G. Pennypacker
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EclipseAg said:

A. G. Pennypacker said:

schmellba99 said:

Tex117 said:

aggiehawg said:

Since I was in law school back then but essentially living on my own, what a time! Then it all just crashed.

For those who were not around then, enjoy.


I mean....still pretty similar today.

But that bust was VERY real. Moreover, it came at a time where the entire economy as shifting from traditional assets, like real estate and oil, to the stock market.

The 80s are really a lost decade in Texas. And it took until the 90s for things to turn back around.

Not entirely. I grew up in Lake Jackson, big chemical plant town. The 80's were pretty good in that industry. Mid 90's weren't so comfortable there though, there was a significant downturn in the petroleum byproducts sector and Dow laid off about 1/3 of the workforce there. That one hit our area hard.

I'm from Lake Jackson too. Thought I would eventually return and work for Dow after getting my ChE, but in '86 they weren't hiring - unless you were top of your class and that wasn't me. :-)

I moved to Lake Jackson in July 1984, and Dow had recently been through a layoff where a lot of older employees were let go. My boss's husband was one of those.

But many of them were hired back as consultants or contractors so it didn't seem to hurt the economy much. But of course I was just a pup and not really attuned to the ebb and flow of local economics. Mostly I just wanted to move away. LOL.

Getting out of LJ ended up being a good thing for me too. My first job was in San Antonio where I met my wife.
 
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