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Old 04-25-2020, 06:49 PM   #101
travelin texans
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I remember in the early 70's living in a small Texas panhandle town of about 8000 folks the main job sources were farming/ranching or various oilfield related industries when at that time crude oil made it to $20 a barrel, they shut down main street & most of the oilfield companies had a parade celebrating.
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Old 04-26-2020, 02:49 AM   #102
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Back then $20 was a pretty good price. Assuming they were drilling a straight hole and no fracking costs. The gritty little town I live in had an oil boom back in the 1920's. Lasted for quite a while. There's still people trying to hang on to it. My next door neighbor is a bug man for Halliburton. They closed their local office and he is working out of San Antonio now. Comes home every other weekend. Neighbor across the street was an engineer for Weatherford, just got laid off. Tough life.
There's still some ag here but not like it was. Some rice, soybeans, and cattle. I think the rural folks have made some decent money on pipeline easements and sand pits. Looks like they're digging half the county up for sand. The new HWY99 is being built and they are pouring huge amounts of concrete.
We will survive these times. Some way.
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Old 04-26-2020, 04:04 AM   #103
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The same "situation" happened with south Louisiana in the early '80's when the "Gulf Oil Boom" slowed. People who were working offshore were suddenly laid off, businesses supporting the oil industry slowed dramatically and the "support businesses", motels, restaurants, convenience stores near the helicopter/ferry boat sites all closed. You could buy "oil related hardware, rigs, etc for pennies on the dollar. Even larger cities like Lafayette and Lake Charles suffered the economic downturn.

Most survived, more by adapting than by hanging onto the oil revenue. It's still not "like it was in the good old days" and folks that were driving Cadillacs on their "2 weeks on/1 week off" offshore rig schedule are working different jobs and driving Fords and Chevys...
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Old 04-26-2020, 04:58 AM   #104
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Very true. I think Lafayette was about evacuated. They had lots of offshore activity. My perception is not too much now. They have adapted though. Actually that's where I took the pic of the orange turbine driven pumps. Probably the refineries and chem plants kept Lake Charles alive.
I've seen our chem plant units shutdown and come back on line a couple years later. Not an easy or cheap process, but we did it. Our Deer Park refinery is tuned to produce maximum diesel. Supposedly that market is still somewhat alive because of exports.
I just hate to see these young families with debt and minimum savings get financially devastated.
Me losing 25% of stock market investment is different than getting laid off at age 30 with debt and kids to raise.
I think we need to get back to work.
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Old 04-26-2020, 06:26 AM   #105
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I'm not "happy" with the stock market losses either, but looking at my own financial situation, I can survive and keep living pretty much like I have been the past 10 years...

Like you said, being 30, having a mortgage, no income, 3 kids to feed and no prospect of a job on the horizon and every day, hoping nothing serious happens to a family member.... I can understand the sense of "hopeless future"

We do need to get back to work and protect what we've got left of our economy.
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Old 04-26-2020, 07:16 AM   #106
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Time will tell but I’ve seen the stock market drop badly every 10-15 years of my life and it bounces back every time in 3-5. My short term money only lost 8%. All the people out of work is a whole different problem. Big business will use this opportunity to clean house and rehire at lower wages, a lot of people will get hurt. As for the young people, I hope they don’t get used to not working, I see a lot of grand kids with their hands out for the free money....
As far as oil, the future seems uncertain to me especially with the electric car push, then you have all the electric power tools and lawn movers etc. I think oil needs to settle around $50 or so to make all the local oil people happy but usage will continue to drop. Higher oil will make my rv trips a little shorter, but there is lots to see within 18 hours of home. Heck, I could spend the next 5 years just camping within 5 hours of here and not see everything.
I’m looking for to a lot of camping and fishing. ;-)
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Old 04-26-2020, 02:29 PM   #107
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Where are you at? Sounds great to be able to camp for years that close to home!
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Old 04-26-2020, 03:19 PM   #108
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We live in north central Washington state near a town names Wenatchee. Less than 12 inches of rain, close to the mountains but a very arid area. In 5 hours I can be at the Pacific Ocean or in the Rocky Mountains.
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Old 04-26-2020, 04:06 PM   #109
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Quote:
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We live in north central Washington state near a town names Wenatchee. Less than 12 inches of rain, close to the mountains but a very arid area. In 5 hours I can be at the Pacific Ocean or in the Rocky Mountains.

Wow! You sound like you live in a place like I do! That's what I've always said; we live in the most ideal place - 5 hrs in any direction to find 1) a dab of water, 2) a tree or 3) anything but dirt. Our rain comes as mud droplets every few months.
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Old 04-26-2020, 04:09 PM   #110
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Very nice!!!
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