Pink Slips: 100,000 Jobs Wiped Out Amid Oil Price Collapse: “Spreading Like Cancer”

Can everyone see now that Peak oil was a total fabrication? A ruse to elevate the price of oil to dig further into your pocketbook.

Worked real well.

Hard to explain this year long supply glut with expanded Asian demand isn't it?

Oil companies are in the business of making money. When oil got super expensive the demand went down, people found ways to lower their use. The oil companies lock in the price for the near future by buying futures. Since the decline in price they've not lowered production. They're storing in tanks and ships all over the country and now they are full. We're about to see another leg down in oil prices.

All of this is the market doing what it does, it has nothing to do with your lunatic conspiracy theory.

You

You do realize most people on GLP were only kids, perhaps not even born, when union busts and outsourcing took off in the 1980s?

The people who dismantled the unions and outsourced the entry jobs were also the ones who walked away with $millions to the bank when they rode the property bubbles until 2008 (still ongoing in my country and others).

i was just talking to a luminent employee.they have a bunch of power plants and coal mines.they are in bankruptcy and most of management took buyouts and retired just before.the musical chairs have stopped again.leaving someone else holding the bag.they have a nuke power plant.so i guess the gov will bail them out.

i saw the same thing happen in texas with the oil industry back in the eighties.
north dakota is fixing to take a big hit.
it took ten years and diversified industry to climb out of the texas hole.
texas is more prepared this time.

I just want to know the production cost for extraction per barrel?

It costs upwards of $500,000 for an ultra deepwater floater drilling rig so offshore oil is expensive.

Not sure how many barrels they get per day and I'm sure it varies by location and depth.

The stock prices of companies that do this, like Noble and Transocean, have fallen to levels I cannot believe. The companies were trading over $40 per share a year and a half ago and now are about $14.

Good riddance.

Those people shouldn't be working for oil companies anyways.

I work at NEXEN ENERGY , it was bought by CNOOC.
CHINESE STATE OIL 1.5 years ago and they laid off 1200 in 16 months! They did it very very slowly, so they didnt have to alarm the GOVT.

My wife works in I.T for a company that makes pipe for oil companies. They laid off over 1000 people in can/usa in the last 2 months. But that isn't why I posted.. They out-sourced tech support to a company in India and my wife complains about them daily. They are the worst workers, next to south americans she has to deal with. She has to support end users with a program called SAP, she knows the program inside and out but when code breaks and she can fix it, they have to take it to tier 2 india support who is just a company under contract and they take weeks to fix things. She actually has to tell them how to do their jobs, and they argue with her about the fixes she propses, and she only wants the program to work properly so she can push a fix to her local users..They don't even know the system well enough to be playing around with code and she even said they try to close tickets to broken code issues that they haven't even fixed or touched for weeks.. They tell her " oh just close the ticket so our metrics won't be affected". And shes like "no, fix the problem and prove its fixed and ill close it", then they take a month to write a few lines of code and test it... That is how fucked India tech support is..

So my point is, keep on out sourcing to india, and this is the shit we will deal with.. Those people apparently go to university for 5 years, get out and still suck at I.T.

The company she works for is based in Argentina, and she said those people are useless, actually she didn't she described how they are to me and I called them useless. They have this weird social thing where they are basically spineless, they will go out of their way to avoid blaming or confronting their bosses or co-workers, but the u.s and canadian workers out right put the blame on them and their shoddy work and they almost cry, and are highly offended apparently when you blame them for not fixing problems that is basically their job to fix lol.. I think to sum up what india and south Americans are like in a few words would be inefficient and spineless. i am amazed how the company actually turns billions in profit every year.. something like 3 billion..

And the company pisses away so much money on flying white collar people from south America to canada just for a few day meetings that they could of video conferenced.. I m just astounded how poorly that company is run and it still makes money hand over fist..

My wife works in I.T for a company that makes pipe for oil companies. They laid off over 1000 people in can/usa in the last 2 months. But that isn't why I posted.. They out-sourced tech support to a company in India and my wife complains about them daily. They are the worst workers, next to south americans she has to deal with. She has to support end users with a program called SAP, she knows the program inside and out but when code breaks and she can fix it, they have to take it to tier 2 india support who is just a company under contract and they take weeks to fix things. She actually has to tell them how to do their jobs, and they argue with her about the fixes she propses, and she only wants the program to work properly so she can push a fix to her local users..They don't even know the system well enough to be playing around with code and she even said they try to close tickets to broken code issues that they haven't even fixed or touched for weeks.. They tell her " oh just close the ticket so our metrics won't be affected". And shes like "no, fix the problem and prove its fixed and ill close it", then they take a month to write a few lines of code and test it... That is how fucked India tech support is..

So my point is, keep on out sourcing to india, and this is the shit we will deal with.. Those people apparently go to university for 5 years, get out and still suck at I.T.

The company she works for is based in Argentina, and she said those people are useless, actually she didn't she described how they are to me and I called them useless. They have this weird social thing where they are basically spineless, they will go out of their way to avoid blaming or confronting their bosses or co-workers, but the u.s and canadian workers out right put the blame on them and their shoddy work and they almost cry, and are highly offended apparently when you blame them for not fixing problems that is basically their job to fix lol.. I think to sum up what india and south Americans are like in a few words would be inefficient and spineless. i am amazed how the company actually turns billions in profit every year.. something like 3 billion..

And the company pisses away so much money on flying white collar people from south America to canada just for a few day meetings that they could of video conferenced.. I m just astounded how poorly that company is run and it still makes money hand over fist..

Nothing can stop the recovery mudafukuhs

"We in Amerika just love capitalizm ... it serves us all so well !!!

Can everyone see now that Peak oil was a total fabrication? A ruse to elevate the price of oil to dig further into your pocketbook.

Worked real well.

Hard to explain this year long supply glut with expanded Asian demand isn't it?

Exactly. Those fucks won't wake up until we have commie masters that patrol the neighborhood daily and rape his wife on Tuesday's while he's forced to watch.

This is just the first ecconomic wave of it. The ripple effects from it, loss of security, inability to make loan payments, mortgage payments, medical bills, eateries, mom and pop businesses, secondary business to oil/gas production companies--all will have lost incomes.

Remember this began happening mid January through February.

February was when the nation was shut down for a month because of snow job after snow job.

Every sector of the ecconomy showed growth downturns reflecting the inability to maintain normal operations for profit in the facr of such severe weather.

Housing starts were off 17% year before.

Yet the unemployment rate dropped to 5.5%.

WAKE THE FUCK UP AMERICA

Soooooo go find other work. No job is guaranteed forever.

I dont and will never feel sorry for the oil tycoons who have made is so hard/expensive for the rest of the world on many occasions in the past.

Fuck em. Sorry if youre family member has lost their job, but i really couldnt give less of a fuck

Which is what I stated in a previous post on this thread. Why wouldn't you give a fuck? The person has lost their job and the ability to provide and you don't give a fuck? Let me tell you something, what comes around goes around and one day you may be at the mercy of somebody who does give a fuck. You should be so lucky you cocksucker.

Im fully aware the job i have may end. We are booming right now, but we sell dumb promotional shit. If we go out of business, ill find other work. I dont feel entitled to the job i have. Business is business. Move on. Im not lazy and can do anything. I wont sit around an cry about it

You've been trained well as a slave. The State, the Corporation doesn't owe you shit. Oh, and you will rationalize your ass rape all the way when you are overtaxed and have your pension confiscated. In reality, you are a coward, too fucking skeered to call a spade a spade, but blame yourself.

Ya know, i do see your point. although i still feel the same, i may need to try to see things from the other perspective Which i something i have been trying to do more lately.

Most federal government jobs are unnecessary, start cutting there.