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Old 04-23-2007, 08:40 AM  
Donger Donger is offline
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Gasoline at $2.50 Coming to a Pump Near You, Unfazed by Falling Tab

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!
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Old 08-31-2015, 02:22 PM   #226
KC native KC native is offline
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No.
I don't believe you.
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Old 08-31-2015, 02:32 PM   #227
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I don't believe you.
I don't work in the industry, or have any fiscal interest or power in it. So, again, no. I had nothing to do with it.
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Old 08-31-2015, 02:32 PM   #228
petegz28 petegz28 is offline
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Sure thing. I wasn't claiming it had anything to do with school districts.

Now, do you dispute that there are very good and valid reasons for gas stations within a few miles of each to have different prices?
Generally speaking, yes. A .12 difference? .02 or .03 cents no, .12 yeah.
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All kinds of people vote. Not enough of those people think highly enough of Trump to make him President but all kinds of people vote.
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So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.
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Old 08-31-2015, 02:34 PM   #229
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Originally Posted by petegz28 View Post
Generally speaking, yes. A .12 difference? .02 or .03 cents no, .12 yeah.
Well, all you have to do is look at the Gas Buddy maps. You'll see plenty of deltas even greater than $0.12 within a few miles of each other. Like I've said, there's a station down the street that is always $0.30 higher than two a few miles down the road.
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Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.
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Old 08-31-2015, 02:39 PM   #230
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I don't work in the industry, or have any fiscal interest or power in it. So, again, no. I had nothing to do with it.
I think you're just covering up your identity on here so no one knows that you're really the CEO of Exxon Mobil.
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Old 09-01-2015, 10:46 AM   #231
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Another crazy day. Crude down 7.52% at $45.50
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Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.
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Old 09-01-2015, 03:35 PM   #232
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Layoffs continue to rise, as oil tanks.
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Old 09-01-2015, 03:37 PM   #233
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Price drop in my area of .07 cents today.
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Old 09-01-2015, 03:38 PM   #234
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Layoffs continue to rise, as oil tanks.
Layoffs where?
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Old 09-01-2015, 03:43 PM   #235
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[QUOTE=WilliamTheIrish;11698537]Layoffs where?[/ Since crude prices began tumbling last year, energy companies have announced plans to lay off more than 100,000 workers around the world. At least 91,000 layoffs have already materialized, with the majority coming in oil-field-services and drilling companies, according to research by Graves & Co., a Houston consulting firm.
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Old 09-01-2015, 03:43 PM   #236
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How many in the U.S?
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Old 09-01-2015, 03:51 PM   #237
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But I Don’t Want to Cut Production!

Saudi Oil Minister, Ali al-Naimi, said this past December that OPEC will not cut production, even if oil reaches $20 per barrel. It seems clear that OPEC, or at least most OPEC nations, are prepared to ride it out. However, at least one OPEC member, Venezuela, a country which derives 95% of its export revenue from oil, would prefer a production reduction sooner than later. However, that’s apparently not going to happen. What would result if oil prices remain low for an extended period? Companies which were profitable at $100, $80, $60, etc., would no longer be able to turn a profit. This would lead to massive layoffs in the oil industry, up to 250,000 workers, half of which would be in Texas. In addition, many regional banks in the affected areas would suffer due to a rise in loan defaults. Low oil prices would also have a negative impact on other industries such as hotels, housing, restaurants, etc. In short, there would be a ripple effect which would outweigh the benefits realized from lower gasoline prices. What will the oil industry look like after the fact?
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Old 09-01-2015, 03:53 PM   #238
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More job cuts announced
NYSE3:58 PM EDT ConocoPhillips says it's cutting 10 percent of jobs AP 8 mins ago ConocoPhillips to cut global workforce by 10%, including more than 500 jobs in Houston MarketWatch q 25 mins ago More. NEW YORK (AP) -- Energy company ConocoPhillips says it is cutting around 1,810 jobs, or 10 percent of its workforce, following a plunge that took oil prices to their lowest levels in years. The biggest proportion of the job cuts will be in North America, the company said Tuesday. ConocoPhillips plans to eliminate more than 500 jobs in Houston, where it is based. In a news release, ConocoPhillips said it's making the cuts because the energy industry is in a "dramatic downturn." ConocoPhillips has already cut 1,000 jobs this year and had 18,100 employees on June 30. Oil prices have plunged because of a supply glut that built up as production increased and growth in the global economy was slower than expected. The health of China's economy, the second-largest in the world, is a dominant concern. In response to falling oil prices almost all energy companies have either cut spending on exploration or cut jobs, often both, and many have seen big drops in their stock prices. ConocoPhillips said in July that it lost $179 million in the second quarter because of the drop in oil prices. It said it was preparing for a period of lower and more volatile prices and also pared its spending forecasts. The company said Tuesday it is reducing spending and paring back deep water exploration work, but job cuts were also needed to make it stronger and more competitive. ConocoPhillips stock declined $1.64, or 3.3 percent, to $47.51 in afternoon trading as the markets slumped. The company's shares have fallen 42 percent over the last year and are trading at their lowest prices in almost five years. U.S. oil is trading around six-year lows. After a big three-day rebound, the price of U.S. oil fell 8 percent on Tuesday to close at $45.41 on weak manufacturing data from China.

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Old 09-01-2015, 03:58 PM   #239
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Welp, better them than me.
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Old 09-01-2015, 03:59 PM   #240
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Schlumberger cuts another 11,000 jobs in wake of oil crash

Posted on April 16, 2015 | By Collin Eaton
HOUSTON – Oil field services firm Schlumberger announced Thursday it plans to ax another 11,000 workers, kicking off what could be a second major wave of layoffs across the oil industry.


The move will bring Schlumberger’s layoffs up to 20,000 employees, roughly 15 percent of its workforce, since it began paring back its payroll earlier this year to cope with low oil prices. The nine-month oil slump has cost the energy industry more than 120,000 jobs so far, according to oil field staffing firm Swift Worldwide Resources.

Oil equipment companies have been forced to fine-tune their workforce as they promise oil companies up to 20 percent in price reductions for rental tools, equipment and other services, said James Wicklund, an analyst at Credit Suisse.

Wicklund said it’s likely another wave of layoffs will sweep through the service industry after this year’s first in recent months, when major players announced more than 40,000 workers would be tossed from the oil-tool suppliers. It’s even possible a third wave will take place in the third quarter, albeit smaller than the first two.

Schlumberger’s workforce peaked in the third quarter of 2014 with 126,000 employees. Spokesman Joao Felix said the reductions are in progress and should be completed in the second quarter.

Schlumberger, based in Houston, Paris and the Hague, said it took a $390 million charge in the first quarter related to the job cuts and a company leave-of-absence program. It blamed the “severe fall” in North American oil field activity as U.S. producers parked hundreds of drilling rigs and cut billions of dollars in spending.

The firm, which is the world’s biggest oil field services provider, said its first-quarter revenues fell to $10.2 billion, down 9 percent from the same January-March period last year. The figure was off by 19 percent compared to the fourth quarter of 2014, a sign that the oil crunch hit sales harder in the new year.
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