January 22, 2015 at 9:15 pm #35059
Talking with a customer last night.
Seems Halliburton laid off some 16, 000 employees in the last couple days from the oilfields. With another 4, 000 to 6, 000 to follow quickly. (Will be verifying the numbers)
There will be ghost towns in North Dakota, thousands of families who are going to be struggling, and this is just the beginning.January 22, 2015 at 9:50 pm #35061
Agree 100%. If oil keeps dropping most of the shale sites are going to shut down, and a lot of wells will follow. Know a geologist who was working in N.D. walked into to work last week, was told his services were no longer needed. As soon as he saw the prices dropping he upped his preparation. He and family will be secure for the near term.
I wonder how the government is going to have the media report the spike in unemployment?January 22, 2015 at 10:11 pm #35062
16, 000 out of millions is a drop in the bucket, hardly noticeable.
As opposed to cheap gas.January 22, 2015 at 11:40 pm #35064
“I wonder how the government is going to have the media report the spike in unemployment?” – Roadracer
You jest of course!January 23, 2015 at 12:33 am #35065
Another aspect of this that that concerns me is that it will push us backwards in terms of how much we produce ourselves vs import. We were slowly becoming less reliant upon countries that truly are not our friends.
Something that I wonder about is whether the jobs that get created as a result of consumers spending less on gas and heating fuel will outnumber the jobs being lost in the oilfields.January 23, 2015 at 12:44 am #35066
What jobs that will be created?
I can’t think of any.January 23, 2015 at 1:01 am #35067
Companies are downsizing. Service industries are over populated.
The US is non-competitive due to high wages, the cost of regulatory compliance and high taxation. What made the US great is abundant low cost natural resources, that’s it, nothing else. Everything else is an off shoot of the root cause. Now that we moved away from using our resources and increased tax on income we are going down the hole. It has been a steady decline for 100 years and we are near the end.January 23, 2015 at 1:14 am #35068
The money people aren’t spending on fuel will be spent in other ways. That will create a few jobs here, a few jobs there, a few jobs everywhere. Tourism is the major industry in my State. When fuel prices rise, fewer people do the drive up here. When prices go down, more people do the drive.January 23, 2015 at 1:36 pm #35106
Well chatting with another oilfield manager, seems like there’s around 40, 000 that have been laid off in just three companies.
In the last couple days.
Good thing its after Christmas.January 23, 2015 at 3:23 pm #35109
I was in Casper, WY when the bottom fell out of the oil industry there (1980’s). It was horrible and reminded me of pictures from the history books about the Great Depression. I remember how odd it was when we finally moved to NOT see mothers/wives crying in the grocery store because they didn’t have enough money to feed their family. I can see this happening, yet again. Not sure how it will hit Wyoming, but I know it is going to raze parts of the Dakotas.
I feel bad for the families that will be left financially destroyed.
As for how this will affect the general population? Not sure. I am glad to see cheaper fuel. I wonder if it will end up being something like what happened to a lot of our PNW old growth. It was cut down, shipped to Japan and sunk to the bottom of Tokyo Harbor for use later on. Maybe China will buy up the mineral/oil rights at a steal and leech off our resources? All I know is that this is yet another round of politicians destroying industry that families depend on for a living.
http://ageofdecadence.comJanuary 23, 2015 at 8:52 pm #35133
The fed has been in a cold war with Wyoming for a while now.
The attacks on the coal and oil industries, water rights/use, constitutional issues, etc.
They’ve already broken the contract wherin we joined the United States, its getting more popular to talk of succession.
We shall see what happens.January 23, 2015 at 9:24 pm #35134
Whirlibirds, I am unfamiliar with Wyoming’s history. What contract are you referring to?January 23, 2015 at 10:48 pm #35138
Good God Whirly, if the US honored contracts the western half of the US would still be owned by the Souix, and the other Indians.January 23, 2015 at 11:16 pm #35139
<div class=”d4p-bbp-quote-title”>MountainBiker wrote:</div>Whirlibirds, I am unfamiliar with Wyoming’s history. What contract are you referring to?
The Wyoming Constitution
(i) The tenth amendment to the United States constitution guarantees to the states and their people all powers not granted to the federal government elsewhere in the constitution and reserves to the state and the people of Wyoming certain powers as they were understood at the time that Wyoming was admitted to statehood in 1890. The guaranty of those powers is a matter of contract between the state and people of Wyoming and the several states comprising the United States as of the time the Act of Admission was agreed upon and adopted by Wyoming and the several states comprising the United States in 1889;
(viii) Article 1, sections 1 and 7, of the Wyoming constitution clearly provide that the people of the state have the sole and exclusive right of governing themselves as a free, sovereign and independent state, and do so and forever hereafter shall exercise and enjoy every power, jurisdiction and right, pertaining thereto, which is not, or may not hereafter be, by them expressly delegated to the United States of America;January 23, 2015 at 11:22 pm #35140
<div class=”d4p-bbp-quote-title”>74 wrote:</div>Good God Whirly, if the US honored contracts the western half of the US would still be owned by the Souix, and the other Indians.
They’re taking it back, one roll of the dice at a time.
Here’s a thought, what happens when a state succeeds today?
Do they shut their borders? Charge import taxes? Limit exports to uncooperative states?
It could get highly interesting.
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