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Yeah, people who you think are beneath you losing their jobs is great fun. Let's all have a laugh at them.

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1. Welcome to Texags.com. If you need a tour, I'll be happy to show you around.
2. One of the primary functions of the B&I board is to mock/make example of those who make bad business/financial decisions, like blowing surplus funds in the good times on things you don't need, then taking a beating when things are less rosy.

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Welp we're going to see a lot of those at repo auctions over the next year or two.

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Yeah, people who you think are beneath you losing their jobs is great fun. Let's all have a laugh at them.

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People have less than a million in liquid funds?

Most oilfield guys I know but brand new cars every other month. They also flaunt around the fact they buy pointless crap.

If they make stupid decisions with their money, why should I be sorry that they struggle when the industry they are in slows down?

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Yeah, people who you think are beneath you losing their jobs is great fun. Let's all have a laugh at them.

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1. Welcome to Texags.com. If you need a tour, I'll be happy to show you around.
2. One of the primary functions of the B&I board is to mock/make example of those who make bad business/financial decisions, like blowing surplus funds in the good times on things you don't need, then taking a beating when things are less rosy.

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Well, it kinda stings when my own head is potentially on the chopping block. The guys I work with are mostly good guys with families who are going to be hurting next year.

Do whatever you want, just don't get indignant when the butt of your joke speaks up a bit.

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Welp we're going to see a lot of those at repo auctions over the next year or two.

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Yeah, people who you think are beneath you losing their jobs is great fun. Let's all have a laugh at them.

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People have less than a million in liquid funds?

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Rookies

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Well, it kinda stings when my own head is potentially on the chopping block. The guys I work with are mostly good guys with families who are going to be hurting next year.

Do whatever you want, just don't get indignant when the butt of your joke speaks up a bit.

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If the guys you work with are good guys that realize they're in a cyclical business, and thus don't blow their money on stupid stuff so that they'll have money to support themselves and their loved ones during the slow/tough times, then they won't be the ones having their repoed jet skiis and jacked up rides sold at auction. Thus they won't be the ones we're making fun of.

But there are those on the flip side.....

I'm predicting a lot of slightly used Yeti Coolers will pop up for sale.

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Not everyone that works in oil is rolling in it....

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A lot of young rig hands are gonna find themselves working at Wal-Mart with no education to fall back on.

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Not everyone that works in oil is rolling in it....

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A lot of young rig hands are gonna find themselves working at Wal-Mart with no education to fall back on.

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They finally get to do all the meth they want without the risk of getting busted.

"Nothing finer than a pipeliner."

Sure there may be lots of good guys with families on the chopping block, but theres also a lot of folks (including some of those good guys) that were careless with their money buying new trucks, boats, atvs, jetskis, etc and didnt think to actually build up any kind of savings. Those that did this with families should be the most ashamed.

It sucks that some people may lose their jobs, but there's A LOT of Dbags working in oil that blow money like its going out of style.

I've always been fascinated by the seemingly universal envy and dislike of O&G types by virtually everybody outside of the industry. Until you move away from Texas you really don't understand the irrational stupid hatred of O&G that your common ordinary house yankee has. Even here we read the dribble about the excessive display of wealth by the oilfield bubbas as if no one else has these folks. Guess a lot of this is left over from the stories about the Big Rich guys that founded so much of this industry.

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I've always been fascinated by the seemingly universal envy and dislike of O&G types by virtually everybody outside of the industry. Until you move away from Texas you really don't understand the irrational stupid hatred of O&G that your common ordinary house yankee has. Even here we read the dribble about the excessive display of wealth by the oilfield bubbas as if no one else has these folks. Guess a lot of this is left over from the stories about the Big Rich guys that founded so much of this industry.

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To be fair to the "ordinary house yankees",

there are a lot of oilfield guys who excessively display their wealth and are, altogether, pretty darn trashy. While there may be rednecks and rude people in every faction and industry, give them a ton of money in an industry that does nothing but build egos, and you get what we are calling "oilfield trash".

It's not everyone, but there is a reason there is a stereotype.

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I've always been fascinated by the seemingly universal envy and dislike of O&G types by virtually everybody outside of the industry. Until you move away from Texas you really don't understand the irrational stupid hatred of O&G that your common ordinary house yankee has. Even here we read the dribble about the excessive display of wealth by the oilfield bubbas as if no one else has these folks. Guess a lot of this is left over from the stories about the Big Rich guys that founded so much of this industry.

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To be fair to the "ordinary house yankees",

there are a lot of oilfield guys who excessively display their wealth and are, altogether, pretty darn trashy. While there may be rednecks and rude people in every faction and industry, give them a ton of money in an industry that does nothing but build egos, and you get what we are calling "oilfield trash".

It's not everyone, but there is a reason there is a stereotype.

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There is definitely a big ego component to O&G but I think he was saying there are other industries with trashy people who don't take near as much flak and aren't hated like oilfield guys. Construction workers come to mind.

Oh I get it. I don't disagree. But there are a lot of folks who hate the oil and gas business period, which is probably why they have a higher degree of dislike for those in industry.

I live on the Eagle Ford in Gonzales/Shiner area. A bunch of these kids that barely graduated HS jumped right into the oil field and started making huge amounts of money right away. Good for them. I don't envy them because I chose an industry that has much more security and the market is not nearly as volatile. It took me 5 years after graduating to make the kind of money these kids were making two years out of HS. So be it. I do what I enjoy. But I refuse to have even the slightest amount of pity for these nimrods that blew every damn dime just as fast as it came in. What the hell does a 23 year old kid need three cars for? A boat that has maybe 50 hours on it in the past three years? A $12K gator when they live in the middle of town with their parents because they don't understand the concept of paying rent or having a mortgage. I know a guy that was making something like $70K/year doing rig ups or something like that and he lost his house to foreclosure because the idiot didn't know how to budget. I have nothing but respect for the people that worked their asses off and plan for the rainy day. I will feel bad for them if that rainy day comes. But these idiots that blow money faster than Charlie Sheen blows through a dozen hookers and an 8-ball will have no pity or remorse from me. They made their beds, now they must lie in it.

I'm pretty sure they'll continue to lie in their parents' bed.

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I'm pretty sure they'll continue to lie in their parents' bed.

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True. Watching through the window as the repo men take their boat away.

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Definitely a bias against our industry. How dare " bubbas" (who by definition should not be more successful than me) flaunt their wealth . That , by the way, the earn doing some of the hardest most dangerous work on earth in such garden spots like Midland... Why can't they be more like the gawd damn yuppie scum infesting the pretty little computer/video game/ yahoo/ Facebook type industries that everyone so loves. Sure .... Those cute little long haired geek yuppies don't show their wealth ( 20-30x any oilfield guy) all over the great yuppie camelot of California. It's ok for them cause we live our Apple or Game of Hungerstuff War crap..., just not oilfield

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I don't see those people on a daily basis to judge them. If I lived in California or Austin, I would. Like I said, I don't envy their current success, but I refuse to pity their potential demise.

I think this is a different kind of hate than the typical O&G hate displayed by many Americans. Since we are on the B&I board, it's obvious the hate here is more for the poor financial decisions being made by those in the middle of a boom. Of course the young pups working O&G as their first career just haven't been through it. The pain will teach them a cruel lesson, and some will never return to this type of work while others will and hopefully will learn from their errors.

Original,
One thing is for sure. The economy is a b***h for all industries that have to work within the realm of no bailouts from our grampappy Sam.

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Well this thread derailed into a bunch of garbage on the last page or so.

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Agreed.

probably because the only thing that's really happened is a price drop, and a lot of rumors and whispers

http://www.bloomberg.com/news/2014-12-04/oil-declines-amid-excess-supply-following-opec-decision.html

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"They're keeping their crude competitive," said Mike Wittner, the head of oil research at Societe Generale SA in New York. "This is their policy."

Saudi Arabia has no target for crude prices and will let the market decide at what level oil should trade for now, said the person who asked not to be identified. The comment echoes those made by Oil Minister Ali Al-Naimi, who said Nov. 26 that the oil market will "stabilize itself." OPEC decided the next day not to cut its oil-output limits, triggering the biggest one-day drop in futures in more than three years.

"The Saudis will not mind oil prices going down to $60 to take out the growth in U.S. shale production," said James Williams, an economist at WTRG Economics, an energy-research firm in London, Arkansas. "They want to maintain their market share."

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Oil at $66.6. I don't know if that means I should buy or sell.

Saudi should just flood the market and keep it at $30. Industry gets wacked, banks get wacked, other services get wacked.

Economic terrorism then along with the cartel cut supply so price increase as America tries to rebuild its economic depression. Would
Make a good movie

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Oil at $66.6. I don't know if that means I should buy or sell.

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There was some interesting technical analysis on Cramer's show last night.

It's Cramer, so there is that, but it will be interesting to see how things play out the next few days/weeks.

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There was some interesting technical analysis on Cramer's show last night.

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I'm looking for more of a Christian apocalypse analysis.

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Saudi should just flood the market and keep it at $30. Industry gets wacked, banks get wacked, other services get wacked.

Economic terrorism then along with the cartel cut supply so price increase as America tries to rebuild its economic depression. Would
Make a good movie

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Kind of...

http://en.wikipedia.org/wiki/Syriana