Economy Gas Prices!

steveflynn said:
It's obvious that a lot of folks in here are doing a lot of very disingenuous arguing. It's absolutely absurd to compare gas prices now (when demand for driving, shipping, flying in airplanes, etc. is very high) to gas prices during the COVID lockdowns (when demand for driving, shipping flying in airplanes, etc. was a lot lower) but that's exactly what is going on.
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Umm this happened in 2008 with Obama also. Covid for that also?
 
deadshot138 said:
Anyone know any roustabouts that work in the oil fields? Apparently you can just show up and if you're willing to work, you can make $100k a year with no education or formal training
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One of my best buddies worked for Aztec Drilling for about 5 years. Mainly natural gas in Pennsylvania, Ohio, and WV. but often times he'd have to fly out to New Mexico and Utah to supervise short staffed crews........he hated it. He made great money but he was away from home constantly, the work was dangerous, filthy, and really hard, and all the guys you're working with are there because they can't pass background checks for other lines of work. Those guys make their money fast and most of them live even faster. Blowing it at the casino, on expensive cars, drugs/booze, and prostitutes. It's a young man's job. Turnover is incredibly high. You either get injured, age out, or end up in jail because ruffnecks gonna ruffneck. I think I posted this in the strength and conditioning forum, but a lot of guys casually blast and cruise on PEDs to keep up with the demanding nature of the work along with all of the partying.

I lived in the Permian Basin in 2012 when things were really booming. It was really wild out there. The cops, ambulances, and tow trucks were constantly busy with all of the wild shit happening and constant influx of new people trying to cash in. Felt like a Mad Max movie driving on I20 between Midland and Odessa everyday for work.

If you're over 30 and you're out there on an oil derrick breaking your back, you probably fucked up pretty bad somewhere along the way.
 
wufabufa said:
One of my best buddies worked for Aztec Drilling for about 5 years. Mainly natural gas in Pennsylvania, Ohio, and WV. but often times he'd have to fly out to New Mexico and Utah to supervise short staffed crews........he hated it. He made great money but he was away from home constantly, the work was dangerous, filthy, and really hard, and all the guys you're working with are there because they can't pass background checks for other lines of work. Those guys make their money fast and most of them live even faster. Blowing it at the casino, on expensive cars, drugs/booze, and prostitutes. It's a young man's job. Turnover is incredibly high. You either get injured, age out, or end up in jail because ruffnecks gonna ruffneck. I think I posted this in the strength and conditioning forum, but a lot of guys casually blast and cruise on PEDs to keep up with the demanding nature of the work along with all of the partying.

I lived in the Permian Basin in 2012 when things were really booming. It was really wild out there. The cops, ambulances, and tow trucks were constantly busy with all of the wild shit happening and constant influx of new people trying to cash in. Felt like a Mad Max movie driving on I20 between Midland and Odessa everyday for work.

If you're over 30 and you're out there on an oil derrick breaking your back, you probably fucked up pretty bad somewhere along the way.
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I've watched some YouTube videos of dudes who were roughnecks. They worked absolutely insane hours but ate and lodged for free and got a stipend on top of it. You're right tho. Young man's job and if you didn't make a quick few bucks and invest and move up/on, you done goofed.
 
Jeffy37 said:
Umm this happened in 2008 with Obama also. Covid for that also?
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What happened just before Obama took office that might have had a similar effect on world wide demand for oil and other goods? Hmmmm...
 
wufabufa said:
One of my best buddies worked for Aztec Drilling for about 5 years. Mainly natural gas in Pennsylvania, Ohio, and WV. but often times he'd have to fly out to New Mexico and Utah to supervise short staffed crews........he hated it. He made great money but he was away from home constantly, the work was dangerous, filthy, and really hard, and all the guys you're working with are there because they can't pass background checks for other lines of work. Those guys make their money fast and most of them live even faster. Blowing it at the casino, on expensive cars, drugs/booze, and prostitutes. It's a young man's job. Turnover is incredibly high. You either get injured, age out, or end up in jail because ruffnecks gonna ruffneck. I think I posted this in the strength and conditioning forum, but a lot of guys casually blast and cruise on PEDs to keep up with the demanding nature of the work along with all of the partying.

I lived in the Permian Basin in 2012 when things were really booming. It was really wild out there. The cops, ambulances, and tow trucks were constantly busy with all of the wild shit happening and constant influx of new people trying to cash in. Felt like a Mad Max movie driving on I20 between Midland and Odessa everyday for work.

If you're over 30 and you're out there on an oil derrick breaking your back, you probably fucked up pretty bad somewhere along the way.
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I have friends that are turning 40 that worked on rigs most of their lives and they’re fucked. One just had a couple spinal vertebrae fused, one can’t form a fist, most have had at least one rotator cuff done, so many legs/hands/feet broken, etc.
I’ve lost a lot of friends in the oil patch.
 
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jefferz said:
I have friends that are turning 40 that worked on rigs most of their lives and they’re fucked. One just had a couple spinal vertebrae fused, one can’t form a fist, most have had at least one rotator cuff done, so many legs/hands/feet broken, etc.
I’ve lost a lot of friends in the oil patch.
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I just remember hearing on the radio/news every couple days about guys falling off the top of a derrick or getting smashed by a peice of casing and dying. Grim stuff happens if you spend enough time in that industry.
 
steveflynn said:
It's pretty embarrassing that I actually have to type this out, however, what happened in 2007-2008 that could have had an enormous effect on oil prices?
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Please type it out for me. He did serve 2 terms. Since you are the expert is it a 8 year window before they go down again? What happens if a different party gets elected next term and the prices go down?
 
Prices by me were all over the place today. On the 12 mile drive to the office, I pass six gas stations, and saw it as low $3.07, and as high as $3.72.
 
Gas went from $3.39 to $3.15 overnight here in central Indiana. That's a nice start.
 
Up here it’s $1.54 Cdn $ per litre, which works out to $4.56 USD per gallon once converted.
 
Jeffy37 said:
Please type it out for me. He did serve 2 terms. Since you are the expert is it a 8 year window before they go down again? What happens if a different party gets elected next term and the prices go down?
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When he took office gas prices plunged because of the global financial crisis. After they hit bottom they then began increasing because demand began picking up for hydrocarbons as the economy improved. That's why there was an increase in gas prices. It's pretty basic stuff and it constantly happens whenever there is a recession (they drop during the recession and then begin to increase during the recover). Before the 2007-2008 financial crisis happened, the price of a barrel of oil was over 120 dollars.
 
ShadowRun said:
I’m sure this will also have no effect on gas prices

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It won't, considering new oil and gas projects typically take years to actually begin producing new oil and gas. The price of oil absolutely plummeted yesterday because of the fears of the new variant of coronavirus affecting demand for oil based products.
 
With COVID lock downs in Europe imagine gas prices will be coming down eventually.

With Biden's attacks upon the oil and gas indstury though, wanting to see these companies bankrupt, imagine high gas prices will be with us till a new more friendly administration is in power.
 
steveflynn said:
When he took office gas prices plunged because of the global financial crisis. After they hit bottom they then began increasing because demand began picking up for hydrocarbons as the economy improved. That's why there was an increase in gas prices. It's pretty basic stuff and it constantly happens whenever there is a recession (they drop during the recession and then begin to increase during the recover). Before the 2007-2008 financial crisis happened, the price of a barrel of oil was over 120 dollars.
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Gas was also low during some of the Obama years because the Saudis increased oil output, to flood the market, to destroy the US fracking industry.
 
You people DO understand that the high gas prices are worldwide, not just in the US? Bidens policies do not affect gas prices in Germany or Italy much. And it is still high.
 
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shinkyoku said:
You people DO understand that the high gas prices are worldwide, not just in the US? Bidens policies do not affect gas prices in Germany or Italy much. And it is still high.
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And you think USA never had direct and indirect influence over gas price fixing and all the major oil exporters?
 
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