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Oil Patch Jobs Are Leaving Fast

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I spent 20 years in the oilfield and all I remember about it was this:
roller-coaster-19.jpg

That was 15 years ago. I see that the more things change, the more they stay the same.
 
Drilling rig trucks & pipe now showing up for sale on Facebook. Right now they have no shortage of balls in their posted asking prices.
 
Remember, Permian and eagle ford have lower cost structures than Bakken/3forkes. Layoffs are real in the Bakken. I can't believe how quickly things turned so bearish. Part of the situation includes oil producers that are forced to produce simply to keep their economy rolling - like Russia and Venezuela and even the Saudies.

Some smart guys are suggesting the oil deflation will ignite deflation throughout the economy. But the fed can't let that happen - governments want inflation to reduce their debts. Deflation would be good, but the fed will roll out qe4 to avoid deflation. qe4 will bury the $$$. Gold is up, why is gold up when oil is down?
 
Whitewing said:
I spent 20 years in the oilfield and all I remember about it was this:
roller-coaster-19.jpg

That was 15 years ago. I see that the more things change, the more they stay the same.

Looks like a good analogy.
 
Reminds me of the old bumper sticker I saw in Great Bend Kansas (oil patch) back in the 80s : "please Lord give us 1 more oil boom and I promise not to pi$$ this one off.
 

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