Shell announces 10k folks to be laid off

[Mungwater 588]

I think most of them are the upstream folks, as they're usually the ones hit the hardest when there is a bust.

 

BP laid off 9,000 yesterday..

 

[frank 2,144]

They're probably all like

 

 

 

 

 

 

 

 

 

 

 

 

 

Oh, off.

[DankNuggs 305]

Conoco just announced similar. OPEC bringing the pain

[hoytdwow 202]

It's almost as if people thought oil would last forever

[Bert 1,087]

It's almost as if people thought oil would last forever

It will last longer than your lifetime and your children's life time.

[hoytdwow 202]

It will last longer than your lifetime and your children's life time.

I was unclear; I meant the oil gravy train, not the physical quantity.

[Bert 1,087]

I was unclear; I meant the oil gravy train, not the physical quantity.

Gotcha.

 

There will be another gravy train. Simply a matter of when.

[MTSkiBum 1,593]

Gotcha.

 

There will be another gravy train. Simply a matter of when.

And another bust and another spike, etc.

 

Nothing that hasn't happened before.

[peenie 1,690]

Saw the title of this thread and out loud I said, "Shiit..."

[Bert 1,087]

And another bust and another spike, etc.

 

Nothing that hasn't happened before.

yep

 

The kids around here in there late 20s/early 30s are really freaking out. This is their first bust.

[Mungwater 588]

Saw the title of this thread and out loud I said, "Shiit..."

You should make a vine of that..

[Frozenbeernuts 1,652]

A lot of our work depends on the 3 oil refineries in the area

 

Pricy oil means me make more overtime monies

[RLLD 3,455]

A lot of our work depends on the 3 oil refineries in the area

 

Pricy oil means me make more overtime monies

 

Clearly this hurts maybe 10-20k people pretty significantly, while it helps over 100 million people profoundly.

[Frozenbeernuts 1,652]

 

Clearly this hurts maybe 10-20k people pretty significantly, while it helps over 100 million people profoundly.

My car was already pretty fuel efficient so it doesnt help that much

[RLLD 3,455]

My car was already pretty fuel efficient so it doesnt help that much

Hence my restriction to roughly 1/3 of the population being "profoundly" helped.

[cbfalcon 824]

 

Clearly this hurts maybe 10-20k people pretty significantly, while it helps over 100 million people profoundly.

1. This thread is about one company laying off 10k people. So your first number is quite low. I think as of November it was 250k jobs lost. And that hasn't stopped.

 

2. While it helps more people profoundly, is the help/hurt ratio in balance? Let's say it saves 100m people $10-$30 a week, but cost 500k people their jobs, is it a net gain? I'm not saying it isn't, but it's not as lopsided as saying "helps 100m and hurts 10k".

[RLLD 3,455]

1. This thread is about one company laying off 10k people. So your first number is quite low. I think as of November it was 250k jobs lost. And that hasn't stopped.

 

2. While it helps more people profoundly, is the help/hurt ratio in balance? Let's say it saves 100m people $10-$30 a week, but cost 500k people their jobs, is it a net gain? I'm not saying it isn't, but it's not as lopsided as saying "helps 100m and hurts 10k".

 

Its a valid question/assertion. Who is being hurt more? Then, what is the proportional impact? The footprint?

 

It appears as though the impact has been rather beneficial to the economy overall, the footprint extending across market lines. I really do not "feel" much pain for the companies, it sucks for the people who work in the industry and have little other options to turn to. Luckily, they have not decided to burn or loot anything.

[Bert 1,087]

 

Its a valid question/assertion. Who is being hurt more? Then, what is the proportional impact? The footprint?

 

It appears as though the impact has been rather beneficial to the economy overall, the footprint extending across market lines. I really do not "feel" much pain for the companies, it sucks for the people who work in the industry and have little other options to turn to. Luckily, they have not decided to burn or loot anything.

Anyone with money invested in any stock exchange around the globe are being seriously hurt.

[cbfalcon 824]

 

Its a valid question/assertion. Who is being hurt more? Then, what is the proportional impact? The footprint?

 

It appears as though the impact has been rather beneficial to the economy overall, the footprint extending across market lines. I really do not "feel" much pain for the companies, it sucks for the people who work in the industry and have little other options to turn to. Luckily, they have not decided to burn or loot anything.

 

For the sake of discussion...

 

How much did you personally "feel" the pain when oil was $60 a barrel? How much did you "feel" the pain at $100 a barrel? I have no doubt you see the benefits at the gas pump, but how much does it affect your life being able to pay $1.70 per gallon as opposed to $3.50?

[Cruzer 1,992]

I do feel bad for those on the hook. But I don't remember getting rebate checks from those banking when gas was upwards of $4 a gallon.... I enjoy paying $1.41 a gallon, like I did today.

[RLLD 3,455]

 

For the sake of discussion...

 

How much did you personally "feel" the pain when oil was $60 a barrel? How much did you "feel" the pain at $100 a barrel? I have no doubt you see the benefits at the gas pump, but how much does it affect your life being able to pay $1.70 per gallon as opposed to $3.50?

 

I think it varies based on socioeconomic status. For me it was less discretionary expenses. So then this inconvenience to me hurt the local food establishments, movie theaters etc. I put less money into the overall economy. When the prices associated with oil decreased, those profits funneled into the hands of only those in the area of oil/energy where then reallocated to a range of the economy, benefiting far more people than focusing it in a single area. The poor CEO's, they fire people rather than compromise their place at the table.

[DankNuggs 305]

 

For the sake of discussion...

 

How much did you personally "feel" the pain when oil was $60 a barrel? How much did you "feel" the pain at $100 a barrel? I have no doubt you see the benefits at the gas pump, but how much does it affect your life being able to pay $1.70 per gallon as opposed to $3.50?

Its worth about $100 a month to me... saving $20-25 a week, and fill up roughly once per week, 4-5 times a month... Its not lifechanging but rather it be in my pocket than someone elses

[RLLD 3,455]

Its worth about $100 a month to me... saving $20-25 a week, and fill up roughly once per week, 4-5 times a month... Its not lifechanging but rather it be in my pocket than someone elses

 

But you likely spend some of it, and then the impact spreads out to the larger economy. Removing the focus away from fossil fuels, banks, insurance companies, benefits us all as the wider economy improves.

[Strike 3,950]

My company laid off 900 last week . I wasn't one of them.

[hoytdwow 202]

Shell always has the most expensive gas and I never buy it ... wonder if there's a connection

[Mungwater 588]

Shell always has the most expensive gas and I never buy it ... wonder if there's a connection

Not connected, shell is more from the BG acquisition.

[ROCKFORD 134]

medical weed and hemp oil.

 

plant the seeds!

[shotsup 831]

Another list I didn't make :headslap:

[TD Ryan2 314]

Let's say it saves 100m people $10-$30 a week, but cost 500k people their jobs

 

why should I pay more for gas to save people's jobs?

Did any of the top oil executives reduce their pay or bonuses?

[IGotWorms 3,302]

And yet more jobs added to the economy and unemployment below 5%. Thanks Obama!

[RLLD 3,455]

 

why should I pay more for gas to save people's jobs?

Did any of the top oil executives reduce their pay or bonuses?

 

Reduce their.....oh my fovcking god no....what and demean themselves into the lower castes? Never, they DESERVE that money.....

[MTSkiBum 1,593]

 

Reduce their.....oh my fovcking god no....what and demean themselves into the lower castes? Never, they DESERVE that money.....

That is not a problem with the oil industry, that is an issue with corporate America regardless of industry.

[TD Ryan2 314]

That is not a problem with the oil industry, that is an issue with corporate America regardless of industry.

 

well, fock it then - we've solved ALL our problems... if we just pay a little more for corn... if we just pay a little more for newspapers... and automobiles... collectively, WE could save all the industries - it'll be perfect!

[MTSkiBum 1,593]

 

well, fock it then - we've solved ALL our problems... if we just pay a little more for corn... if we just pay a little more for newspapers... and automobiles... collectively, WE could save all the industries - it'll be perfect!

 

I am not saying that, supply/demand sets the price of commodities, there is no reason that people should pay more. Right now there is a supply glut due to technology and a demand slowdown due to Asia.

 

RLLD seems to delight in people losing their jobs.

 

 

It sucks, I lost two coworkers yesterday.

[RLLD 3,455]

That is not a problem with the oil industry, that is an issue with corporate America regardless of industry.

 

Correct, but this not a thread about corporate America, and the question itself was limited to "oil executives", the Argumentum ad populum aside, the think that these cowards would give up a penny where the life of another is in the balance? Please.....these people are the worst of us.

[RLLD 3,455]

 

RLLD seems to delight in people losing their jobs.

 

 

 

 

Its a valid question/assertion. Who is being hurt more? Then, what is the proportional impact? The footprint?

 

It appears as though the impact has been rather beneficial to the economy overall, the footprint extending across market lines. I really do not "feel" much pain for the companies, it sucks for the people who work in the industry and have little other options to turn to. Luckily, they have not decided to burn or loot anything.

 

 

 

 

Curious, some assertions it seems have no basis in fact.....but it was a lovely post, and you told with such enthusiasm! Your angst is misdirected, those cowards at the top of your company......they "justify" their absurd compensation with their ability to perform and make the company profitable......so they screwed up, get to keep their absurd compensation while they harm the common worker, yeah, throw your angst at me.....makes perfect sense.

[TD Ryan2 314]

 

I am not saying that, supply/demand sets the price of commodities, there is no reason that people should pay more. Right now there is a supply glut due to technology and a demand slowdown due to Asia.

 

RLLD seems to delight in people losing their jobs.

 

 

It sucks, I lost two coworkers yesterday.

sorry MTSki - not trying to be callous... it's awful watching people lose their jobs through no (of very little) fault of their own - but the fact is it's your industry today, someone else's tomorrow.

My sarcastic, "just raise the price on everyone" is what's happening to everyone, everywhere with everything right now - job losses to go along with $4 butter, $5 milk, $150/week crappy health insurance, $25k Corrolla's, $100k student loans, and $200k ordinary houses... all while the average salary hovers around $40 - $60k.

 

And then we're told, "profits and productivity are up" so the executives give themselves bonuses again - for making the "tough decisions", "properly restructuring" and "maintaining profitability while increasing productivity"... and as Ray mentioned, the oil executives are among the worst.

[hoytdwow 202]

They had a story on CBS Sunday Morning this week about this recent oil bust. They had a guy on there who was an 'oil field consultant' who had been making $1700-$1800 a day, now he had no work. Then, at the end of the story he talked about how he was broke and his truck had been repo'd. I'm sorry, but if you are making that kind of money and not socking some away, especially in an industry such as this, it's hard for me to sympathize. He also had a neck tattoo, which means he's automatically a dumbass.

[MTSkiBum 1,593]

 

 

 

 

 

 

Curious, some assertions it seems have no basis in fact.....but it was a lovely post, and you told with such enthusiasm! Your angst is misdirected, those cowards at the top of your company......they "justify" their absurd compensation with their ability to perform and make the company profitable......so they screwed up, get to keep their absurd compensation while they harm the common worker, yeah, throw your angst at me.....makes perfect sense.

I apologize, I forgot that you posted that earlier. Still I hold the opinion that you would like to see certain industries go bankrupt. Even though it would hurt the workforce.

[MTSkiBum 1,593]

They had a story on CBS Sunday Morning this week about this recent oil bust. They had a guy on there who was an 'oil field consultant' who had been making $1700-$1800 a day, now he had no work. Then, at the end of the story he talked about how he was broke and his truck had been repo'd. I'm sorry, but if you are making that kind of money and not socking some away, especially in an industry such as this, it's hard for me to sympathize. He also had a neck tattoo, which means he's automatically a dumbass.

He was lying. Even in the most technical of jobs the consultant salary tops out at 200,000 a year.

 

Which is good money, but half of what you are stating and does not include any benefits and the job sucks and requires an engineering degree.