Last week ISIS set fire to the enormous processing plant just over 100 miles north of Iraq's capital last week. The Middle East’s major Arab powers has failed to contain the expansion of ISIL. They might encroach toward Saudi Arabia. As you already know, the Middle East controls 60% of proven oil reserves and with it the keys to the global economy. Should ISIL capture a major oil field in Iraq, or overwhelming the government, the consequences for energy markets and the financial system would be potentially catastrophic.
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There should be a space between IS and IS but it doesnt make sense anyway. - Mystic Nitro telling it like is is!
pay off 4761 !!!! if he had time to write that "book" then he as no job. Give the job to somone who really is under pressure ..
I'm glad there are people who still remember those days. I doubt it is something younger people can even comprehend. I really just to love working for REDA. It wasn't perfect but was both hard work and fun at the same time. It was a family atmosphere. Of course there are a few in my own family I don't get along with too well and REDA was no different but we always kept the peace. I also had some really good friends and got to work with some really great people. Even when I moved overseas, I kept my house because I knew it was my retirement home. Then along came SLB. Overnight my plans were upended. I put up with SLB as long as I could but I was miserable and decided to leave. If your old enough to have seen the movie "Network" with Albert Finney, you know exactly how it feels. The day I was removed from LDAP was one of the top 10 happiest of my life. The guy doing the exit interview was absolutely gobsmacked that I would choose to leave the company. SLB took us from a family environment to an Orwellian regime. Unfortunately companies like the old Baker, REDA, ODI, et. al. no longer exist. Will I look back on that with a bit of nostalgia, I can only think SLB for forcing me to make the decision to leave. I have been able to significantly better my future as a result. HAL assimilating BHI is, in one way, a good thing in that the BHI frogs will get dumped into the boiling HAL water rather than having HAL turn up the heat slowly. HAL cronyism will do some unfortunate damage. SLB could not have cared less about employees of the companies they bought. Their attitude was that, if the employee were any good, they would have hired him right out of college. Since they hadn't done it, he/she must somehow be inferior.
With regard to me working in alternative energy, I am as close to the wellhead as you can get. During a weekend drive, my daughter once smelled oil and H2S through the open window from a nearby well. She asked me what it was because it smelled really bad. I told her she was wrong. That was the smell of money and that smell is what put food on the table and nothing could have any better aroma. But IMHO I do think that alternative energy is the future for many reasons so, if you like oil, make and save as much money as you can now because the oil will not last forever. But I'm a dinosaur now and will sooner or later go the way of the ones who gave their lives so that we could support our familes and I think them for it.
For those of you too young to understand what it was like to work with your family, you will never know what you missed and that is truly sad. If you do get RIFed, look for something much better. It does exist. It just doesn't exist in the oil service industry any more. I would not look for an oil price recovery in the near future. I believe 2016 will still be tight. I've been watching the spot price inch up and I know there are forces working to stem that tide. Would like to say why but I cannot but it will be a bumpy ride so hang tight if you can but look for something better to improve your quality of life. No more 7 day work weeks for me. No more vacationing with my laptop on the table beside the lounge chair. No more phone calls 24 hours a day because the global company I work for doesn't understand the concept of time zones. Now I don't even check the occasional email. It feels great.
Regarding the comment by Anonymous104761: "I was convinced I would eventually retire with the company." I started with Western Atlas in 96, and within three months I told my wife this was the place I wanted to stay until I retired. I was hoping to make it to 62, but I got axed nearly 3 years early. I'm not crying - I'll be fine. This is just to say that my tenure with Western Atlas was fun and Baker Hughes was fun until sometime around 2010. I did enjoy the people I worked directly with. Well, most of them... :-)
You people don't sound like you are in the oil business. Alternative energy? Get in your prius and go fight isis.
I also agree with Timothy, "not all Muslims are terrorists, but all terrorists are Muslim"
That is so true
Not all Muslims are terrorists, but all terrorists are Muslim.
Yee Ha Cowboy
I understood that shale oil was never going to be a long term thing. Even with new technologies, the economic production would only last about 5 years and then the USA would be right back where it began except possibly with less potable groundwater. Ignoring what is happening in the ME and saying they are getting their just desserts may give some a feeling of satisfaction but it will most likely end up not being in the best interest of those people with this short-sighted world view. If the USA truly had huge reserves than could sustainably and economically be produced for decades, even then ignoring the current conflict will ultimately prove disastrous. Conflicts are no longer over lines drawn on maps. The internet has changed that forever. Even if the US can manage to keep conflict beyond its borders, dependency on only domestic oil will drive the cost per barrel to the moon. While that might be a good thing for employees of service companies, it will not bode well for the overall economy. The bottom line is that we have all become nothing more than numbers and that will not change ever again. When I first started in 1981, I was surprised at the number of employees with 20 - 30 years experience. On the manufacturing floor, there were many cases of two generations and a few cases of three all working together. I was convinced I would eventually retire with the company. The company changed. Nothing is secure any more. There is no more long term strategy. Everything is driven by the what the stock price will be at the end of the month. Executives are rewarded by improving shareholder value at any cost. Even human cost. It just is what it is.
This would work for us just nicely. We have capacity to deliver, let them exterminate each other, we'll do our thing. It's all good.
We are too dependent on oil. Need to think of the future when mideast oil might not be their for us . Need scientists working on finding alternative energy sources
They are killers who especially want to kill the Christians of this world. They will not rest until they have brought the war to this country, the United States, and then all hell will break loose.
ISIS are sunni muslims who are a great threat to the world. They will overrun the middle east unless someone stops them. China could be one country that can send in troops to protect the oil fields. But the truth is the world is too dependent on oil. we must find an alternative source of energy .ISIS might already have sleeper cells in this country.