Thread: How low can it go

Originally Posted by "G"

Not going to argue but that is not what I am reading or what I am hearing from friends in the oil business. I will find out more about it in a few weeks when I go to Louisiana.

Will stay tuned G, I only know what I read.

Originally Posted by Crappiemaniac

A lot more Americans benefit from lower gas prices then the number of people that get laid off. The money saved by normal Americans is able to be spent on other things and businesses. The number of oil companies and employees laid off is a small percentage compared to the number of Americans that benefit from low prices. Oil company's made Record profits while the rest of us suffered. We ran a trucking company and we had 13 trucks when fuel prices jump so high during the recession we were put out of Business after 23 years because Companies didn't want to pay enough of a freight rate to make a profit. It took 2 to 3 years for companies to get use to higher rates. Thousands of small companies and owner operators went under. It was estimated over 100,000 drivers lost their jobs. But yet The oil companies made all time record profits during this time. why couldn't they suffer a little bit then like everyone else? Just my opinion which don't mean much!t

Sadly, it's the same thing now. It's the workers who are suffering. The small mom and pop organizations who are going under. Yes the big names are hurting some but they will be fine they are too diversified, they just keep firing people till their profit margin returns. Luckily my ship is contracted to carry petrochemicals, so regardless of the price of oil, we keep sailing. Either we will win, or OPEC will. But this won't be the same as when the prices skyrocketed several years ago. Enjoy it while you can because it will go back up, and when it does......be ready. Cause I don't think it is going to be pretty.

Originally Posted by downsouth

Will stay tuned G, I only know what I read.

me too here is some good reading....

What are the current statistics on world oil production? | Get.Smarter.com

What is the average cost of oil production? | Get.Smarter.com

Originally Posted by MidMsAngler

Sadly, it's the same thing now. It's the workers who are suffering. The small mom and pop organizations who are going under. Yes the big names are hurting some but they will be fine they are too diversified, they just keep firing people till their profit margin returns. Luckily my ship is contracted to carry petrochemicals, so regardless of the price of oil, we keep sailing. Either we will win, or OPEC will. But this won't be the same as when the prices skyrocketed several years ago. Enjoy it while you can because it will go back up, and when it does......be ready. Cause I don't think it is going to be pretty.

If I hadn't grown up in trucking. I would have loved to work in the shipping Business. Would love to be able travel the rivers. Where do you run? Kind of boat?

Originally Posted by warhawk

I bought gas in Fort Smith today for $1.28, if you had their cash card it was $1.25

1.34 at SAMs in Southaven and with a nickel off my card at Walmart in Batesville was the same.

Originally Posted by BigRiverMarine

1.34 at SAMs in Southaven and with a nickel off my card at Walmart in Batesville was the same.

Just right, isn't it? The way you apparently like it.

I'm not a macro economist nor a financial guru but I do know there are many positive effects of lower fuel costs. I do regret the huge loss of jobs in the energy producing sectors. I'm sure there are other negatives I can't imagine. On the other side I see a lowering of costs for goods and services across the board as a result of cheaper fuel, including especially the farmers of America. While I have sympathy for the energy folks I also know we've paid way too high for far too long. Lastly, I see a much needed boost in the pocket for each person that drives and, for me, it's not an insignificant amount. Not wanting to dispute anyone, just add a little to the discussion.

Originally Posted by Crappiemaniac

If I hadn't grown up in trucking. I would have loved to work in the shipping Business. Would love to be able travel the rivers. Where do you run? Kind of boat?

Right now I work on a 110' 3800hp towboat. All together we are about 1000' long by 60-100' wide. Pushing 12,000-24,000 tons of liquid cargo.

We run from Houston, TX to Decatur, AL. So we get either ICWW or offshore sections headed to mobile depending on draft, then we reconfigure to head up the Mobile River, Tombigbee, Tenn-Tom, Tennessee River, and Kentucky Lake, then back down the Ohio and Mississippi before we head back over to Houston. It's a beautiful run. Beats the heck out of running big ships offshore.

My teachers used to say I would never making a living if I kept looking out the window.....guess I proved them wrong.