Thread regarding Schlumberger Ltd. layoffs

A Trump presidency does not impact the pruce of oil. Neither will his pick for Energy Secretary (although honestly... please not dumb--s Sarah Palin).

OP is correct, more layoffs to come, and expect many more facility closures and consolidations in 2017. It ain't over!!!

$40 tariff on oil will hurt us even more. We can't produce the 20 million barrels a day we need, and if we could it would be close to $150 a barrel. Think of how that affects the economy as a whole.

Lower oil price is good for US Economy; Brent trending around $44-45/bbl today on negative slope. Expect US rig count to trend downwards as well. Even Wolfcamp is not sustainable when ALL costs are accounted for correctly. Oooh, btw..SLB is hiring HR with knowledge of US immigration laws - time to start packing?

$40 tariff on foreign oil

Not true. We have nowhere to store more oil. The US doubled output over a very short period of time and we expect the rest of the world dial back. Look at all economies and see that demand is not increasing as it once was. To help offset some, we have begun exporting a bit of gasoline, but it's not enough. Another thought about this has to do with how we allow people to play with numbers. When bond values are down, fund managers look to oil to help reduce risk in the market. Bonds have not been down in 3 years and some can say this is more of the norm and not the exception. You could say this was more of reason for the high price than demand.

In 2006, Saudi said the price should be around $60 a barrel and it was $150. People were up in arms and screaming to drill more. 2009 more drilling began and the US increased production from about 3mm/bad to over 5 and it has been slowly tapering back down since the price is so low. How would a president force this back up?

Finally there is a glimmer of intellegance from slb. Oil is toast until the middle east stops flooding the market. Thank your buddies in the middle east for your sleepless nights and fears of lay offes.

I disagree, if Trump keeps one of his statements of which there are many, the one I am thinking off is the desire to increase oil and coal production {as he does not believe in global warming} - why I agree without demand why on earth would you increase supply? Anyway if that does happen then the glut gets bigger and the price falls. In this way Trump can mess with the oil price. Otherwise what you say is perfectly correct and I take your point.

I hard that its the Rothschilds who are controlling the price. I learned it on the same website I buy my freeze dried food supplies for the armageddon from.

The only reason there is too much oil is Dollar, Inc told the Saudi's to dial up the pumps to crush Putin. That's all in hiatus right now as the globalist regroup and try to figure out what to do.