Things are chaining big time, the oil world will never be the same and the execs know it. We'll probably see over 20K layoffs in next 2 to 3 years.
13 replies (most recent on top)
Anonymous87441- GFY? Wow! That's one of the most intelligent, mature, and educated responses in the book. How could I ever compete with that? You win. I am humbled.
Idiot.
Anonymous87455 GFY. no need to let your personal deficiencies cause you to take swipes at people.
I just started last month, my instructor in NEO must have gotten his information a little mixed up. But one thing he did get right, he mentioned that there were a lot of jerks working here, I guess he was right, 87531 ensures that there is no shortage of dicks here.
Fat finger syndrome. 87531.
88531 - how long have you worked for HAL? You don't even know how the company got started? Halliburton was founded in 1919. Fracking began experimental stages in 1947. Can you spell C-E-M-E-N-T-I-N-G?
Facts are facts. Halliburton, and for that matter, our jobs / careers are changed forever. No one, and I mean NO ONE knows how the new organization will look. Those of us that are fortunate enough to remain when the dust settles are the lucky ones. Merging two organizations into one will not be pleasant, most of our smaller entities will be sold off and we'll be left concentrating on what Earl P began years ago.....Fracking..... Period. New York with the ban and California with the water shortage will sting, but it won't spell disaster, it will just force us to refocus on different areas of the world that have less restrictions. The war in Iraq is over, we can't feed the troops and furnish security teams to police the world, by forming new groups with the blessings of political contacts, we're back to square 1. FRACKING. That's what we do. We'll just be doing less.
Get used to it.
877441 - You got a couple of things right. Green technology isn't viable now right now. And you're an idiot. As technology moves forward, so will the energy sector. Coal was king not too long ago. Oil refinement came along and pushed it aside. Coal was comparitively cheap to mine but it's environmental impact and human cost knocked it off the throne. From being a natural compound down in the Earth to your gas tank, oil is insanely expensive, sometimes environmentally harmful, and carries a slightly less severe human cost. It's only saving grace is it's quantity. With depressed oil prices, quality trumps quantity. Sand oil is already cost probibitive to extract and refine. I'm old enough that I don't expect green energy to take the lead in my lifetime. But it will be someday. The wind and Sun will be around till the end of days and will cost little to harness. You won't have to frac the air every 4 to 6 years to keep them flowing. Only an idiot thinks crude oil is going to be around forever. But you've already qualified yourself on that matter.
wow. well I've been around since the mid 80's. this isn't a dip, its a slump. opec got greedy & caused the fracking/shale 'boom'. they've painted themselves into a corner now. if they cut production to boost prices...fracking/shale fire back up. the technology is & will continue to improve ROI in the energy sector. its called progress. opec isn't the strong arm they use to be & they won't keep the market share they want due to improving technology & efficiency. opec is doomed.
green energy is taking over...lol. take the world governments subsidies away (which opec caused too) & its not even close to being cost effective. oil & gas will continue to be the honey of energy for at least another 50 years. think i'm wrong? sell your stocks & laugh at us idiots buying them up. I bet you won't be laughing in a couple years.
I think we're a victim of our own success. We are producing more oil and gas than we're using. From what I've read, our oil and gas reserves are full. The more energy independent we become, the cheaper the energy will be. The energy sector has seen the end of the good old days. It will spiral down till it finds a point of neutral balance. By then, the alternate energy sources that aren't economical today will take the lead. Oil and gas will continue to become less important until it is just a side note. If you aren't planning to retire in a few years, I'd look elsewhere for a career. I'm no genius but I've been in this market for 40 years.
Hank, you are so right.
Since the layoffs seem to be targeted at employees, and not consultants, and the layoffs are so deep...one can conclude that these are long term structural changes Halliburton. Oil stayed expensive for so long, that an incentive to create alternative forms of energy was born.
Hopefully this will mean coal is removed from power plants and natural gas takes over. (Begging for a revival.)
Yeppers, the oil industry is a dinosaur. That industry has so long survived by throwing a lot of money at the task at hand. There was no need for efficiency, just throw money at it. Money was the solution to all ills. Laughable, by other industry sector standards. In today's business environment, with people wanting, no demanding, better returns out their stock, efficiency becomes a bigger priority. HAL now has a gleaming $hrine of a facility, empha$i$ on youth, fitne$$, life$tyle and advancing the role$ of individual$ in the workplace. The takeover, image makeover and fall of oil prices has all combined for an opportunity to take advantage of this perfect $torm at just the right time. Kinda makes one wonder how long this had really actually been planned out, and strategized, waiting for the right conditions to line up. Just my idiotic opinion. Now, go have a cigar.
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.