I tried to tell you all how much it effects our economy and people just wanted to save their $20 at the pump. Be careful what you wish for.

Consumer spending is the biggest driver of our economy. The money saved at the pump blows away the lay offs (which aren't even isolated to the US).

And donger weeps.

HOUSTON — Oil field equipment maker National Oilwell Varco will cut 110 jobs in North Texas as it closes a fiber-glass system facility in Mineral Wells through the end of the year, state regulators said Monday.

The Houston company told the Texas Workforce Commission that the closing of its Mineral Wells facility, about 50 miles west of Fort Worth, will be complete in December, and an initial round of layoffs will take place in early October.

“Due to economic reasons, NOV was not able to provide as much advance notice to some affected employees as it would have liked,” the company said in a letter to the TWC. “NOV will make those employees whole by providing additional pay and benefits.”

National Oilwell Varco had told Texas regulators more than a week ago that it would close a facility in Willis, Texas, over the next few months, laying off 150 workers starting in mid-August. The firm had 63,600 employees at the end of last year.

More broadly, oil-industry recruiter Swift Worldwide Resources says the ongoing oil market crash has claimed 176,100 jobs since it began last year.



I think that's enough articles to prove my point.

I'll take low oil prices over that unemployment blip any day.

:facepalm:

Not at all. I thought that you little people would like to see the gift that has been given to you this Labor Day.

How many millions of jobs were lost while oil continued to sky rocket? :shrug:

If you can't grasp people having jobs is more important than saving $10 at the pumps, this discussion is going nowhere. I prefer to put out effort for someone who has a semblance of how things work.

Two wrongs don't make a right and your question is a what if? Show some hard numbers and I'll gladly discuss the virtues of Americans being gainfully employed versus being unemployed. That's common sense.

Maybe you should ask the oil billionares that to save jobs only have 3.2b in progits instead of 3.198b in profits. You are blaming the wrong people.

I'm not blaming a soul. My contention is when crude prices tank, there's a correlation to many people losing their jobs and that people saving a few bucks isn't a big enough offset to people being unemployed.

As others have mentioned in this thread, when I save at the pump I have more to spend on other things. This spreads the money across more sectors of the economy and provides additional jobs in those sectors. Oil is not operating in a vacuum here.

I understand that, but be for real. Do you really think people saving a $500 a year even comes close to a person losing a $50,000 a year job. Seriously, man.

All the families in America saving an average of $500 a year is more money than all of the salaries of people losing their jobs by a mile. Not sure how you can't comprehend that?

I do comprehend it, I just don't believe it to be true. $500 a year means they bought a few more groceries or fast food items in most cases or possibly saved some. That doesn't stimulate the economy on a large scale, like 250,000 good middle class employed people would.

You're lost...

This

One is a short term savings, the other is long term effect on the economy. Btw, taking all 400 million Americans saving $500 is roughly $2 billion the 250,00 people at $50,000 equals roughly $1.2 billion. Gainfully employed long term is a big picture ideal versus short term savings. Make sense?

So in all honesty, it's like a wash?

Great retort. You showed me.

If you look at short term only.

Not really if gas prices continue to stay low for years....again, it's like a wash.

You work in an industry that requires little to no education and is based on supply and demand. That's not my problem. They aren't just going to hand out jobs for nothing.

And when those prices go up, there won't be that savings and yet a good portion of those people will be without a job or taking a lower paying job. I'm just saying look at the big picture, it's far from being lost in the argument.

You're the only one arguing that side so really, it is a lost argument.

And yet, I've brought relative points to the discussion and shown how it effects more then an extra $20 in your pocket.

Sorry but largely unskilled labor does not guarantee you a job in this country. You find another rather unskilled job in the meantime.

Cheap gas is saving me around 500-800/month.

I am just a small business running 2 suburbans, 2 trailers, and a van.

Imagine what this is doing for big business and trucking/shipping........

Lol. You have no clue how much I make or my education. The fact is, gainfully employed people spend more than unemployed people. That's not even debateable and yet many continue with that falsehood.

Please brah....$20 in your pocket.

Think of the oil field workers!!!

No. Every citizen having an extra $500/year should add WAY more jobs to the economy than any loss felt by the oil industry.

Why do the layoffs have to have a long term effect? Are the people in the oil industry not capable of finding work in another field? I used to be a cable TV contractor making really good money. But it got to the point that there were more contractors looking to work than the cable companies needed. The cable companies were able to use that to cut the amount we were making in half. I got out of cable contracting and got into computer network cabling. My point is that when I couldn't make a living in my line of work, I found another line of work. Oil workers can do the same.

I'm talking about the oil field workers where most of the cuts are being made as far as percentages of job loss. I know plenty of friends who have been doing that and I am very sorry their high school education didn't give them job security while I raked up student debt.

Yep, that's precisely what I said. Jesus Christ. If you can't concede that the oil sector is a major employer in our country and when it tanks it effects a lot of people then I'll just agree to disagree.

That was the next point, higher gas prices raise the cost of everything due to shipping costs. So the savings are not just at the pump but across the board.

Sure it does. It is also causing every consumer in America to save money. Other businesses profit because of this. Other jobs are created. These people in the oil industry sure can get other jobs right? RIGHT?!

Every small business construction contractor with a fleet of 50 vehicles is saving big time.

Citizens and businesses have a little extra cash in their pockets to get projects they've been putting off done.

Lower fuel prices allows the contractors to price that work cheaper, ensuring more of those new bid requests turn into work.

This has a huge positive effect.

Of course, the huge corporations will just continue business as usual. Refusing to pass savings on to customers, making the economic drive solely demand driven, and they'll selfishly pocket every penny of savings for their investors.

I don't understand why shipping prices haven't went down. (Actually, I understand fully)


They are some gouging pieces of shit. Especially Beaver Express.

LMAO @ lewdog.


Yes, Beaver Express is a real company, and although their name is awesome, their rates most certainly are not.


http://beaverexpress.com/Portals/0/gray%20logo.JPG

ROFL

I seriously thought you just had a well played line in a reeruned thread. And I figured you were married.

ROFL

Well... If you think they'll pass the savings on to the consumer that is.

This...

Same reason they won't put the two burritos they took out of the package in the freezer isle.

They are under no obligation to...

I agree with this, I'm just pointing out there's another side of the coin. People employed spend more than unemployed and there's no denying the oil prices have definitely correlated to big unemployment and that's not something to brush off and be taken lightly. Nothing more, nothing less. Trying to keep the discussion real. You don't find that many people unemployed in a high paying sector troubling for America long term!?

Right. And the oil industry is miniscule compared to the economy as a whole. They might hurt, but far more will benefit. WAY more $50,000 jobs will be created as a result.

This is the point everyone has been trying to drive home.

I understand that. I have from the get go. Where we disagree, is that those middle class jobs will return in the near future. It's real simple, $500 a year extra in your pocket doesn't necessarily translate to higher paying jobs.

:facepalm:

Another day of significant drop. Down 4.36% at $43.43

Keep on dropping.

Gasoline now at $2.44, down $0.20 in the last two weeks.

I paid $1.99999999 in Grove OK on Sunday.

Gasoline now at $2.37

Costco and Sam's Club has gas at $2.13 a gallon while most stations are around $2.49-$2.59 here in the DMV.

Sub $2 gas has returned to the Ozarks. $1.99 in Ozark as of Tuesday morning. Still $2.16 in Springfield. Fortunately. I drive right through Ozark every day so Springfield stations can stick it to everyone else while I (as usual) stick that extra money in my pocket not theirs.

Gas is going down? Must be Obamas fault.

Crude surging today on weaker US production. Now at $47.13, up $2.54 or 5.7%

Gasoline now at $2.30, down $0.38 in one month

I was quite pleased paying $2.19 in Gladstone over the weekend.

I paid $2.75/gallon this morning at Sam's Club here in Southern California.

That's actually a decent price for you SoCal'ers.

$2.69 gallon at COSTCO in LA,CA. Remarkable. North of $4 in July.

Gasoline now at $2.19, which is about where is should be with crude having stabilized at ~$45.00/barrel.

Speedway has it for $2.02 here today

Paid $2.09 yesterday. 2.27 today.

No you didn't.

It's currently $2.02 at the janky place on Troost.

$1.71 yesterday morning

LOL

Shocking drop in prices here in Northern VA. Saw gas at $1.87/ gal at Wawa in Gainesville. Hear it is around $1.70 or less in Richmond and nearly the same in Manassas.

I hardly noticed since someone fills my tank up for me, so I don't have to do it.

Exactly!

Gentlemen need us!

Just filled up when I had 3/4 of a tank because the price was $1.96 and it was rising to $2.29. In before Donger tells me I'm lying.

I paid 2.09 yesterday. Today it was ****ing 2.07!

Just re-flued the boiler on the 1901 Stanley . should get around half a mile to a bucket of coal,,give or take.

Diesel still 2.45-2.54 depending on where to go.

I give zero ****s about NO2.

$2.61 fuel $2.49 diesel in LA.

Lol no it wasn't.


:D

1.95 this morning.

You would have to work to find gas over $2 in Austin right now. I have seen as low as $1.86.9.