Gas prices getting to low bad thing for offshore workers/land rigs too

[wendy]

My husband works offshore and they told him in a meeting yesterday that with gas prices getting so low they are starting to stack rigs off the coast of Texas. That is scary!

Because of low gas prices oil companies don't see the need to drill for more oil and expense for new wells and maintence on rigs.

So gas prices going to low is not good for alot of people.

This is so messed up with so much going on in our country. I just can't believe it has gotten this bad!

Thanks for letting me vent

Wendy

 

[HennysMom]

too low? How can that be?

Oil companies are still making one heck of a profit (you can pull the profit margins online for last quarter) - even at the current rate still a profit.

We are still paying near $2.00 a gallon here, lowest I've seen it is $1.89.

 

[TerriLaChicks]

Yep, was just talking about that very subject with a factory rep from down south who was in here.
It'll be layoffs any day now...

 

[wendy]

Quote:
Oh, i know what you mean. But the drill bit used to drill those wells cost $ big time money. And a drill bit can only be used so many times. That is one thing. Other things add to it, I just am not good at remembering all that stuff my husband said.

I am worrier too. This is my husbands income we are talking about along with ATON of others. Pray for us please!

Thanks,
Wendy

 

[Melilem]

I know how tough it is to be without work. However, oil needs to be low enough for the rest of us to survive the winter up here in Maine. I would like to see it go a bit lower still, but I can deal with $2 a gallon.

 

[wendy]

Quote:
they are not going to lower heating cost I can tell you that. Because it is winter and people will need the heat for winter. I saw a report on it. Heating cost are up 15% over last winter and they were high then!

I keep calling my propane dealer for our gas heat. Not such luck of anything dropping they said. They know my voice. I call several times a week

Wendy