Thread regarding ConocoPhillips layoffs

Most of you are missing a key point. Domestic production from unconventional reservoirs is mostly exported. The majority of US refineries, at least those still in operation are designed to process heavy and sour crude. Produce all you desire from Unconventional Reservoirs, but is does NOT have any impact on US energy independence. If those posting on this forum were employed in the O&G industry they would know this.

Crude, LNG etc are global
Commodities, Donnie has minimal control over price as well as many other items in the global markets.

@nf agreed

@156 you're not in economics, are you? If so, you may want to go back to school. Trump is hardly crashing the economy.

1. It feels like Competitive Edge was announced a year ago.. Why is someone just now posting that layoffs are coming? If it takes this long for things to sink it, I think you might be a target.
2. Sadly for us, most people in our country like low oil prices. It lowers many everyday expenses. If you are only driven by your desire for a paycheck, then the democrats and their plans to limit production would have been a better choice for your vote. However, that also ends up in layoffs at some point because production eventually declines.
3. President Trump is hardly crashing the economy by moving to US sourced materials. He is crashing our industry, but in his mind that is for the greater good.

Trump’s Secretary of Energy opened CERA week by reaffirming Trump’s preference for $40-$50 oil. This what y’all voted for. This will be peak FAFO when his voters find themselves in the unemployment line.

@h5
You are very welcome!

The fact is shale creates a “minimize cost, manufacturing” oil production scenario rather than a riskier and riskier find and develop one. Prices stabilize around the lowest cost producer (which isn’t COP) rather than those luckiest oil finders (COP was demonstrably incompetent at exploration). Sell COP and buy smarter low cost manufacturing producers.

Love seeing the incompetent people picking up paychecks for decades crying and moaning on these forums. It's time to go home! Prices are down because production is at peak which means need to drill more which requires capital. Hence why "economies of scale" required and best to get rid of old trash.

Layoffs at COP were announced long ago, this isn’t breaking news.

President Man-Baby is certainly working his hardest to crash the US economy and destroy this country from the inside. Save your $$ and hope for the best because for whatever reason, the Repubs hate America and our citizens.

Trump wanted lower oils/gasoline prices. He knew the drill baby drill would not work - so he took action with the tariffs to drive economic activity lower and thus lower oil demand. He has delivered on his promise lower oil/gas prices - thank you MAGA voters.

President wants lower prices, lower prices cause US shale to cut jobs, lowers tax revenues. Lower output causes prices to rise, producers flock to produce as much as possible as quickly as possible to take advantage of high prices and make profit, too much production causes prices to outstrip demand growth. . . . .rinse and repeat for 100 years (or at least the past 20 years in my personal experience)

Yaaaas! Stop picking this dying industry people!