Oil Crashing

[Troutslayer444]

It's not depression coming, its just going be slow. If you were around for 2008/2009, you would have learned from that scare, if you have a head on your shoulders that is. The only people the slow down will affect are the people who don't save. We had 4 solid good years of work since then and that's enough time to save in Alberta for the slow down. Nothing has changed, theres the busy times and the slow times, it's Alberta. If having the lifted truck financed, all the toys and goodies financed along with the big house you can't afford is more important than saving, then I'm sorry to say your hooped! All I can say is I hope you learn this time. For me, I'm ready for the break! The more hunting and fishing is the way I see it.

[jungleboy]

After 9 pages of many predictions I will say this. AO is a good place to come and learn about hunting / fishing etc but if you want to know what the your future job prospects are or your financial outlooks you are probably on the wrong forum ,look for a fortune tellers convention for that.
Most of the positive stuff is wishful thinking and much of the negative stuff is just humans doing what they do best, with a bit of wishful thinking thrown in by some.
Slowdowns come and go in Alberta . despite what some would like to believe,it will affect almost everyone some way or another(some worse than others) . If you came into the workforce in this boom then you will probably feel it more than those who've been through it before.If you lived large and didn't put anything aside you're gonna learn that it is not a smart move and will likely change your ways in future.
Good luck to all and may this slow down be short lived.and may we all learn from it...again.

[trouty]

Originally Posted by Buzz

Some are saying otherwise:
http://business.financialpost.com/20...ousing-market/

The last thing you can count on is analysts. Do some reading you will find opposing views on every topic right now. I found calls for $20 and $70 oil in 2015 in one search and all points between. One thing for sure is it's still not at the bottom.

[Wild&Free]

Originally Posted by jungleboy

After 9 pages of many predictions I will say this. AO is a good place to come and learn about hunting / fishing etc but if you want to know what the your future job prospects are or your financial outlooks you are probably on the wrong forum ,look for a fortune tellers convention for that.
Most of the positive stuff is wishful thinking and much of the negative stuff is just humans doing what they do best, with a bit of wishful thinking thrown in by some.
Slowdowns come and go in Alberta . despite what some would like to believe,it will affect almost everyone some way or another(some worse than others) . If you came into the workforce in this boom then you will probably feel it more than those who've been through it before.If you lived large and didn't put anything aside you're gonna learn that it is not a smart move and will likely change your ways in future.
Good luck to all and may this slow down be short lived.and may we all learn from it...again.

I'm sure there's at least 3000 or so fortune tellers here out of 50'000.

probably 2850 different fortunes, the other 150 just overheard others.

[Sleddawg]

Frankly I am a little annoyed at most of the *******s here wishing ill will on anyone. I work in the oilfield have for 18 years, I am prepared for a long slow down, but with no clue on when it ends I still worry. Not because of my lifted truck, sled, boat, reasonable trailer that are all paid for, but because of my kids. If me having these things makes me a target from the "smart" people that bash people that have these things then they can get bent. I am prepared for 3 years of no work, but what if its longer? To me 3 years of savings should buy me plenty of time to find something of decent opportunity. Of course its not wise to purchase toys and finance them, which I was taught early in life, if you can't pay cash for toys don't buy them, but its also no fun to sit on your ***** on your time off or mooch off of friends that may have these things. I could have gotten some mediocre paying job sitting on my ***** in an office being miserable but I enjoy the outdoors. I even finished EDDT at SAIT and worked for 6 months before my mind and body told me I can't handle being restrained in an office. Some are meant for this work others aren't, but the people that do end up here shouldnt have any ill will wished on them because of how they live their life. We are all Canadian and should all support each other no matter what.

[Bergerboy]

Originally Posted by Sleddawg

Frankly I am a little annoyed at most of the *******s here wishing ill will on anyone. I work in the oilfield have for 18 years, I am prepared for a long slow down, but with no clue on when it ends I still worry. Not because of my lifted truck, sled, boat, reasonable trailer that are all paid for, but because of my kids. If me having these things makes me a target from the "smart" people that bash people that have these things then they can get bent. I am prepared for 3 years of no work, but what if its longer? To me 3 years of savings should buy me plenty of time to find something of decent opportunity. Of course its not wise to purchase toys and finance them, which I was taught early in life, if you can't pay cash for toys don't buy them, but its also no fun to sit on your ***** on your time off or mooch off of friends that may have these things. I could have gotten some mediocre paying job sitting on my ***** in an office being miserable but I enjoy the outdoors. I even finished EDDT at SAIT and worked for 6 months before my mind and body told me I can't handle being restrained in an office. Some are meant for this work others aren't, but the people that do end up here shouldnt have any ill will wished on them because of how they live their life. We are all Canadian and should all support each other no matter what.

Good words.

[avb3]

Originally Posted by Sleddawg

Frankly I am a little annoyed at most of the *******s here wishing ill will on anyone. I work in the oilfield have for 18 years, I am prepared for a long slow down, but with no clue on when it ends I still worry. Not because of my lifted truck, sled, boat, reasonable trailer that are all paid for, but because of my kids. If me having these things makes me a target from the "smart" people that bash people that have these things then they can get bent. I am prepared for 3 years of no work, but what if its longer? To me 3 years of savings should buy me plenty of time to find something of decent opportunity. Of course its not wise to purchase toys and finance them, which I was taught early in life, if you can't pay cash for toys don't buy them, but its also no fun to sit on your ***** on your time off or mooch off of friends that may have these things. I could have gotten some mediocre paying job sitting on my ***** in an office being miserable but I enjoy the outdoors. I even finished EDDT at SAIT and worked for 6 months before my mind and body told me I can't handle being restrained in an office. Some are meant for this work others aren't, but the people that do end up here shouldnt have any ill will wished on them because of how they live their life. We are all Canadian and should all support each other no matter what.

Something tells me you are not one of the ones who will have any issues, and my bets are you will not be out of work for three years.

[bobalong]

Originally Posted by Sleddawg

Frankly I am a little annoyed at most of the *******s here wishing ill will on anyone. I work in the oilfield have for 18 years, I am prepared for a long slow down, but with no clue on when it ends I still worry. Not because of my lifted truck, sled, boat, reasonable trailer that are all paid for, but because of my kids. If me having these things makes me a target from the "smart" people that bash people that have these things then they can get bent. I am prepared for 3 years of no work, but what if its longer? To me 3 years of savings should buy me plenty of time to find something of decent opportunity. Of course its not wise to purchase toys and finance them, which I was taught early in life, if you can't pay cash for toys don't buy them, but its also no fun to sit on your ***** on your time off or mooch off of friends that may have these things. I could have gotten some mediocre paying job sitting on my ***** in an office being miserable but I enjoy the outdoors. I even finished EDDT at SAIT and worked for 6 months before my mind and body told me I can't handle being restrained in an office. Some are meant for this work others aren't, but the people that do end up here shouldnt have any ill will wished on them because of how they live their life. We are all Canadian and should all support each other no matter what.

I don't really think anyone is wishing ill will on anyone. No one likes to see people lose their livelihood, especially because of some world politics, that they have no control over.

I see you are fairly new to the board, go back (or not) and view some comments a year or two ago when oil was at 130 barrel. There were many demeaning, smug and smart ass comments from workers in the patch, directed toward those who were not. I wouldn't take it personally, just some verbal jostling, a bit of what comes around............goes around.

[Sleddawg]

Originally Posted by bobalong

I don't really think anyone is wishing ill will on anyone. No one likes to see people lose their livelihood, especially because of some world politics, that they have no control over.

I see you are fairly new to the board, go back (or not) and view some comments a year or two ago when oil was at 130 barrel. There were many demeaning, smug and smart ass comments from workers in the patch, directed toward those who were not. I wouldn't take it personally, just some verbal jostling, a bit of what comes around............goes around.

The world is in shambles right now with terrorist activities and threats from NK and the price of oil plummeting, the last thing we need as a country, let alone a province that relies largely on oil, is for people to hope anybody loses anything let alone a single day of work. If there is ever a time for people to unite and be strong as one its now. I am not offended, I feel I "should" be fine but as I look out the window today at the rig crew I have working I hope they will be fine, they are a good crew, next time I have this rig it could be a mess of new guys and my life could be made a hell of a lot harder. As for the comments a few years back I can't defend that, however I would rather have someone flashing their merchandise at me rather than have someone wish I lost those very things. Well obviously I wouldn't prefer either, but if I had to choose. Anyways, good luck to all and I hope everyone pulls through this unscathed!!

[Weedy1]

This just in!!!! We're going to be saved by Iran and Venezuela !!!! I always had a soft spot in my heart for the Ayatollah.

Time to start looking for a new sled and truck.


http://news.yahoo.com/iran-venezuela...135329358.html

[big zeke]

Originally Posted by Weedy1

This just in!!!! We're going to be saved by Iran and Venezuela !!!! I always had a soft spot in my heart for the Ayatollah.

Time to start looking for a new sled and truck.


http://news.yahoo.com/iran-venezuela...135329358.html

I sure will sleep well tonight knowing the future of Alberta economy is in the hands of an unstable semi dictatorship and a religious nutjob. I'm not sure how studied these fellas are in economic policy but I know ya don't want to get on their bad side.

We'll all get thru this, some with more bumps than others. Folks that over extended themselves will feel some pain, hopefully they will remember for next time.

Oil patch money is earned the hard way, dangerous, distant, risky work. The folks that do this work deserve the pay and I don't begrudge their toys.

[Weedy1]

Unstable semi dictatorship and a religious nutjob VS The United States and Saudi Arabia


Hmmmmm..... who to choose???

[Xiph0id]

Originally Posted by Weedy1

Unstable semi dictatorship and a religious nutjob VS The United States and Saudi Arabia


Hmmmmm..... who to choose???

You're going to screwed either way!

[Deer Hunter]

Originally Posted by Sporty

Some of you discuss patch workers as though they're beneath you. School isn't for everyone and last I checked, Alberta needed patch workers and that is where some went. At the end of the day, the spending habits of some shouldn't give others the satisfaction that I'm seeing in this thread at the thought of their upcoming struggles. There are still going to be families out there that will be affected with the downturn and I can't for the life of me fathom rubbing salt in wounds that are going to be hurting to begin with. Why anyone would wish hardship on another just because you don't agree with how they lived their lives is beyond me.

^^^^
Agreed.


The guys I know who have really "made it" never bring it up in front people that are possibly having a hard time. They were raised with more class than that. Cause and effect most likely.

[Troutslayer444]

Originally Posted by Sleddawg

Frankly I am a little annoyed at most of the *******s here wishing ill will on anyone. I work in the oilfield have for 18 years, I am prepared for a long slow down, but with no clue on when it ends I still worry. Not because of my lifted truck, sled, boat, reasonable trailer that are all paid for, but because of my kids. If me having these things makes me a target from the "smart" people that bash people that have these things then they can get bent. I am prepared for 3 years of no work, but what if its longer? To me 3 years of savings should buy me plenty of time to find something of decent opportunity. Of course its not wise to purchase toys and finance them, which I was taught early in life, if you can't pay cash for toys don't buy them, but its also no fun to sit on your ***** on your time off or mooch off of friends that may have these things. I could have gotten some mediocre paying job sitting on my ***** in an office being miserable but I enjoy the outdoors. I even finished EDDT at SAIT and worked for 6 months before my mind and body told me I can't handle being restrained in an office. Some are meant for this work others aren't, but the people that do end up here shouldnt have any ill will wished on them because of how they live their life. We are all Canadian and should all support each other no matter what.

Originally Posted by Deer Hunter

^^^^
Agreed.


The guys I know who have really "made it" never bring it up in front people that are possibly having a hard time. They were raised with more class than that. Cause and effect most likely.

Tooshay. I was saying you shouldn't have to worry if you played your cards right. Don't wish anything bad on anyone. Just stating obvious. All I know is I'm excited for the slow times, just means more hunting and fishing for me! Enough talk about oil prices and debate on peoples debts. Cheers. Happy hunting & fishing!

[Talking moose]

This is a great thread if your trying to figure out peoples true character/colors. Some subtle hints, some not so subtle.
It's almost as if people would get joy and personal satisfaction on other peoples misery. Real life bannock slaps should be administered.

[lannie]

Originally Posted by Talking moose

This is a great thread if your trying to figure out peoples true character/colors. Some subtle hints, some not so subtle.
It's almost as if people would get joy and personal satisfaction on other peoples misery. Real life bannock slaps should be administered.

Many people on here havewatched this play out before and have been waiting for a "dive" in the market place. The large majority of "bargain shoppers" are not getting personal joy out of seeing other peoples misery due to job losses etc. If they are they are troubled to say the least. Many have been stashing cash while the good times have been here and are now going to reap the benefits of self discipline. If you have not bought that 500,000 house in the last 5 years you have wanted and in another year it can be had for 300,000. Good on you and sorry to the fellow who gave it up to the bank because he was living on borrowed time.

[Skytop B]

Originally Posted by Talking moose

This is a great thread if your trying to figure out peoples true character/colors. Some subtle hints, some not so subtle.
It's almost as if people would get joy and personal satisfaction on other peoples misery. Real life bannock slaps should be administered.

Have not heard that for a lot of years, you must be a Northern Manitobian as well? Not all oil workers are uneducated driving 80K jacked up trucks. I guess there are at least a couple thousand engineers, geologists etc in Calgary as well as a lot of newly graduated young engineers who just spent the last 4-5 years getting their petroleum degree. They will have a tough go as well launching their career.

[79ford]

The counter cyclicle people are what keep things going in bad times... Companies and people that took care to save for bad times will be the ones building new projects and buying houses etc.

I imagine 2009 is still fresh in most peoples memories and that may help this time around

[Skytop B]

I do not recall the slowdown of 2009 at all.

[silver]

Originally Posted by Skytop B

I do not recall the slowdown of 2009 at all.

All the contractors working on the Firebag expansion were told to pack up and go home, projects complete or not. I was working for Universal Industries at the time.

[Bergerboy]

Originally Posted by Skytop B

I do not recall the slowdown of 2009 at all.

It was short, the patch fell on its face December 2008 and was dead till February 2009.

[Bergerboy]

Originally Posted by Talking moose

This is a great thread if your trying to figure out peoples true character/colors. Some subtle hints, some not so subtle.
It's almost as if people would get joy and personal satisfaction on other peoples misery. Real life bannock slaps should be administered.

Bannock Slaps? Are those like the "Key to the V Door"?

[Skytop B]

Originally Posted by Bergerboy

Bannock Slaps? Are those like the "Key to the V Door"?

A Bannock slap is an open palm to the forehead

[justsomeguy]

Originally Posted by Skytop B

I do not recall the slowdown of 2009 at all.

I do. Was living in Fort McMurray at the time. Shaved at least 20 minutes off my commute. Our company estimated 18 000 workers went home at the start of the Christmas break and never came back. Guys were called on vacation and told not to come back, contractors were called and told if they wanted to come back in January they had to cut at least 10% off their costs, LOA went away for unskilled labour, etc. Most employees of producers did not notice the downturn other than no raises and bad bonuses, construction and contractor workforce took the brunt of the blow.

As a longterm resident of Fort McMurray the downturn was actually welcomed. Up to that point we had been talking about getting out of the rat race due to the large transient population.

Was an eyeopener for me even after having spent a decade of up and down in forestry.

[dumoulin]

I back in 96-97 we were so slow at the shop and in the field we'd show up and hope to get at least 2-4 hours in for the day. I went from putting in 60 -70 hours in a week to 15-20. That was rough. Luckily, I had less than 10k of dept and could still survive on that kind of pay. At any rate, I ended up simply leaving my job and many of my long time friends to retrain and found a job which is much more stable.

When the going got good in the patch, although I was happy for the turnaround and glad my friends were doing well, I also envied them as they made much more than I. When 2009 came around the corner, I knew I made a good long term decision.

I guess I guy has to think about the floors and cons of working in a volatile industry and absorbe the risks if one so chooses continue on this path in life. Funny thing is that the older you get and the more more responsibility you shoulder (family & dept), the fewer risks most people are willing to take.

[Wild&Free]

Originally Posted by Weedy1

Unstable semi dictatorship Saudi Arabia VS The United States


Hmmmmm..... who to choose???

[Weedy1]

....

[levigne25]

Oil prices will climb again , oil will always be up and down . It's not like they found a new energy source lol it will climb back up

[martinnordegg]

Originally Posted by levigne25

Oil prices will climb again , oil will always be up and down . It's not like they found a new energy source lol it will climb back up

It's just when and how far up.