The crisis is real, and will take decades to clear. The changes are structural and beyond our control. Good luck to all. I am in Financing and will be changing industries.
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Funny, a company is only as good as those who work for it. Yet, somehow, where things go wrong it's the PEOPLE who suffer. Go figure…..
Loyalty id dead. Save your 'love' for something that's capable of loving you back
Yes, you are right. Things are changing, the world is different, technology is changing. Hybrids, batteries, wind, solar, drones. Fracking made an impact, now fracking must be further improved or what's the point. On a mass scale all those improvements add up. Time to move on boys. My 2 cents worth.
Good thread
I so agree with Anon. 87332 comment. THIS IS NOT a dip..this is going to be worse and longer then the one in the late '80's. I'm amazed when I hear the young oilfield worker say thins like "we are always slow this time of year" ..OR "by the end of the year the boom will be back." I just shake my head and wonder at their not noticing the thousands and thousands losing their job on what they consider a "dip"? I'm afraid this will be for a much longer time then the one in the '80's. I am 58 and worked in the 80's one and then rehired and finally went on my own on a consultant basis. I think I'm done! I've tried to save as much as I could through this last boom; not rich but comfortable and I'll sit this one out and not even job hunt. Good luck to each and everyone of you youngsters. Been there with a family to support and it was rough.
ConocoPhillips has 9 billion barrels proven reserves. Iran has 150 billion barrels proven reserves. Conocophillips spend $50 per barrel to pull the oil out of the ground. Iron spend $10 per barrel to pull the oil out of the ground. Iran has 3 million barrels per day production capacity soon to return to the market with a current excess of 2 million barrels of oil per day. Watch the news for five minutes and one would realize ConocoPhillips does not have a snowball's chance in hell of avoiding bankruptcy. E&P companies are lining up at bankruptcy court.
COP needs to remember the employees are the COMPANY. I agree there are employees needing to be layed off but we are not seeing the right people getting layed off. When there are employees not performing their jobs, sleeping, reading newspapers and visiting all day not getting layed off makes you wonder is management blind?
I am in IT and will be changing industries (and states). The crisis is real and will clear; but I am not willing to wait for the crisis to clear.