I was just wondering if anyone else is watching the oil price lately. I have been nervously watching it and frankly I'm trying to stop. Anyway so many of us were let go back in 2015/16. At least then I had some cushion saved up but now that's mostly gone. I'm just wondering if anyone else freaked out about it like I am.
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Screw slb... Two decades of hard and dedicated work only to be shown the door in favor of an uneducated useless brown-nosing medically challenged fraud and thief who couldn't get a job anywhere else. Shame on this organization. Went to a few interviews and being told twice that they couldn't bare to be associated with ex-slb employees because clients as well as their own culture would be negatively affected. Disregarding knowledge and skill, I had to explain why slb... Basically apologizing for being a piece of cr@p and what my plans are to become trustworthy.
Should have left years ago...
Fortunately for slb, there's always another id--t who thinks he's got it figured out and is better than others.
Working for an operator now. Slb comes knocking on my door including my ex boss. Please, you do not offer anything different than anybody else. I know that because I designed, built, and ran your c-ap. But you have an endless chain gang of dumbazzes with just wonderful slide shows and the latest gossip about who is doing whom and who got fired... This company went to the dogs. It ain't worth $5 a share.
The last post is one of the most sensible pieces I have read in my 40 years on this planet.
There is too much oil and the sales are dropping due to lack of demand and over supply. Coupled with massive and increasing above ground reserves for China and here in the States, it spells the end of over,-priced black gold. A surfeit of oil will not disappear overnight especially when Canada is kknocking it out at $15 a barrel and Trump and Putin seem comfortable with a low price..
For years we were lied to, with certain countries statlng that oil was running out so the price would increase - especially if oil is your main export.
Oil has been greatly overpriced and a low purchase price benefits economies of countries whose GDP is manufacturing based. People and producers need to stop sticking their heads in the sand and see that the Emperor actually has no clothes on now.
Oil is not going to 'go wild' next year or any time soon. ......it is fairly obvious as an over supply does not just 'disappear'. I'm convinced that the top management of Schlumberger will know this and I'm also sure that no lofty executive would start pushing to raise Schlumbergers' contract prices in view of the fore-mentionned economic and rather obvious outlook. Realignments to the value and worth of companies are going to be 2019s new buzzphrase and it has already started in the tech sector.
Wake up, smell the coffee and try not to be influenced by press statements from companies who have vested interests in the rubbish they spout. Remember, every one of these fortune tellers missed the global crash- and they are far from the sharpest knives in the drawer.
PEV vehicle sales in US is around 1%. Pretty well any US vehicles relies on drilled oil. Most countries are not much better than this, Norway is an outlier.
Natural gas generates 30% of US electricity. Coal is about the same - shifting from coal will likely just increase natural gas use.
Heating oil use is 20% of all US oil use.
A 2018 US government report (https://www.eia.gov/outlooks/aeo/) predicts petroleum will continue to contribute the largest share of total U.S. energy consumption through 2050.
It is not unreasonable to conclude that the world will need O&G for quite a while yet. Even in a falling market SLB should be smart enough to do well.
(ps I would really like oil dependency to end, but the realistic position is that it won't soon)
(pps I too am down after 10 years of DSPP purchases which I have held onto trusting that things will be better in the long term)
I also suggest learning how to behave outside slb, slb culture and attitude is show stopper in interview.
Yes, proficiency in a couple of coding languages and you're set. Sounds silly but it's serious. You'll have a job tomorrow, if you do. To many slb guys and the likes in the market looking. Those jobs are out there just not in ME. You'll be shocked to find out once you left behind this ofs nonsense. But you gotta take that step...
Do something with my life? I have a 4 year engineering degree, 15 years in the industry and a family. I did something with my life.
Oil is over for 2019. We're basically back in the 80's.
World getting divided up again and prices arranged according to geopolitical affiliation.
Go to your local junior college and study anything. You'ld be much better off you ever were with OFS.
Don't work for these people! Do something with your life.