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Halliburton/Baker Huges Deal is Busted

Discussion in 'Financial Cents' started by rjburk, May 2, 2016.

  1. rjburk

    rjburk Monkey

    Living in a State ( WV ) that has thrived on the Oil/Gas industry the news keeps getting worse....not sure if this merger would have helped, but it can't get much worse. 1000's of jobs lost already and more happening everyday....Halliburton shut down local shop about a year ago( 30+ years in that location ).....local Baker shop is idle with just a few employees....Weatherford has shut down local shop.....and the numerous contractors who did work for them have shut down or completely disappeared....a lot of people are totally unaware of most of it....and how damaging the effects are and will be.....not to mention the Obama/EPA attacks on the Coal Industry.....
    UncleMorgan likes this.
  2. Dont

    Dont Just another old gray Jarhead Monkey Site Supporter

    Life in the oilfield.. It's boom or bust.. All the time.. Have been there and done that..
    UncleMorgan likes this.
  3. rjburk

    rjburk Monkey

    Never been like this before.....none of the big 3 have ever shut down so many shops and laid off so many people....I know a lot of people who worked the fields for many years and this situation has never been seen before.....
  4. yeti695

    yeti695 Monkey

    I agree with both of you. Working in the patch myself for a few years then working in the mapping and drafting side of it, I have seen it have its ups and downs. I got out a few years ago and I'm glad I did. I still have a lot of family and friends that work in it and they said its the worst they have ever seen it. The older people that I know has said its worse now then it was in the 80's. I hope that it comes back to many familes around depend on it. I have lived in Oklahoma my whole life and been around the industry most of it in some sense. The small towns more than the cities really depend on the oil and gas industry to make it.
  5. Gray Wolf

    Gray Wolf Monkey+++

    The powers that be are playing games with the energy supply. Our production of our own oil supply threatens opec, so they push the price down to hurt our producers, then when our suppliers have been bankrupted, price goes back sky high like it was.
  6. Ganado

    Ganado Monkey+++

    its not the energy supply they are playing games with..... its the money supply. Other countries are tyring to break the 'petro dollar' how they do that is they take the prices so low no one trades in US currency for oil anymore. That is why oil is going up and down so rapidly.

    we are already in a SHFT monetary situation.
  7. Motomom34

    Motomom34 Moderator Moderator Site Supporter++

    Colorado oil and gas jobs have been hit hard. Quite a few lay offs but the news really doesn't mention it.

    I agree with @Ganado
    Ganado likes this.
  8. Legion489

    Legion489 Shining the Light of Truth

    Ganado is right, if you look at it not as a "this or that is getting hit" but a WHY is this or that getting hit, it almost always comes down as a hit on money, or access to power, which means money anyway, money being a measure of power. So why is oil/gas/coal under fire, not to mention Bundy and other ranchers? AGENDA 21! Go see what Obummer said about it, the UN said about it, the CONgress said about it, they don't push it openly, but it is no secret either.
    Ganado likes this.
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