What's new
By:

Oil bust inevitable

Denmark’s biggest company is selling off the country’s last oil firm as the world’s top wind turbine-producing nation transitions to renewable energy. Last month, A.P. Moller-Maersk, the famed industrial and shipping conglomerate, agreed to sell its oil and gas division to French giant Total. Pending regulatory approval, the $7.45 billion deal is expected to close by next year, Bloomberg reported.
Click to expand...
Source

 
I forgot to report back, gas raised $.20 cents here. Crude is taking another dive today I see.
 
So I have some friends on FB from the town I use to work in. It seems like 3 of them have been let go lately from different companies in the town. Now after the first one I thought maybe they did something wrong, but with this many lately I wonder if the business are starting to finally hit hard times and starting to lay people off before winter?
 
Last edited by a moderator:
Talking to a friend of mine back there, his parents just moved back to Texas, they moved up there when the boom started. His dad was in oil, but sounds like it dried up.
 
Talking to a friend of mine back there, his parents just moved back to Texas, they moved up there when the boom started. His dad was in oil, but sounds like it dried up.
Click to expand...
Well yeah who thought it would last forever? Would have been safer to stay in Texas where it's more steady as far as oil goes. Plus why leave there and come up to the terrible winters we have?

 
Well yeah who thought it would last forever? Would have been safer to stay in Texas where it's more steady as far as oil goes. Plus why leave there and come up to the terrible winters we have?
Click to expand...
For the money I suppose, he was some higher up, they had a place in South Heart.

 
Talking to a friend of mine back there, his parents just moved back to Texas, they moved up there when the boom started. His dad was in oil, but sounds like it dried up.
Click to expand...
Two guys that I know from back home just took jobs out in the oil country with no prior experience. Probably not super high up jobs but they are hiring.

 
Two guys that I know from back home just took jobs out in the oil country with no prior experience. Probably not super high up jobs but they are hiring.
Click to expand...
There are still going to be jobs. It's not like it's dried up, they just aren't pumping as much anymore and don't need the workforce like they use to. I do  find it interesting when the higher ups leave though, that is when you know it's bad.

 
There are still going to be jobs. It's not like it's dried up, they just aren't pumping as much anymore and don't need the workforce like they use to. I do  find it interesting when the higher ups leave though, that is when you know it's bad.
Click to expand...
I think the demand is more in Texas right now. They are really hammering the Permian Basin. That's where the money probably is right now.

 
You must log in or register to reply here.
Back
Top