low oil prices effecting you?

[mikesride]

I would like to hear your stories, positive or negative about if and how these low oil prices are effecting your daily life.

I am sure many of you are enjoying the low gasoline prices.

I on the other hand have a company truck with a gas card that I run with....so no big advantage to me.

My stock portfolio took a 6% dive recently.

My company sponsored pension plan must be heavy heavy resource based as it has lost nearly 2% of its gross value..

I am sure these will claw their way back up over time.

This month I have had two machine orders cancelled by customers who work mainly in the Bakken oil field....means I am now trying to make up a shortfall of $30,000.00 in lost commissions.

Don't get me wrong, life is still pretty good, I am a lucky guy to live where I live and am healthy, safe and warm, just wondering if anybody else has some stories. good or bad. (good would be great!!!! I could use something to cheer me up! ) Yes ..I see I have used effected over affected.

[nynor]

it is pretty nice to fill the porsche for $35 instead of $50+. i don't have income that relies in any way on oil price, so it's all a plus for me.

[hardflex]

I'm sure there will be layoffs and less drilling /fracking in TX because of them. I'm not directly involved in those but it will cool the local economy somewhat.

[yetibone]

Suits me just fine! The lower, the better.

[wdfifteen]

I haven't seen fuel cost surcharges going away. Ticks me off. When fuel prices were volatile and rising I could understand adding it as an addition to published shipping charges on a short term basis. But shippers had years to incorporate higher costs into their pricing and they didn't do it. Given the pricing model they established, they should be giving fuel cost rebates now.

[Gogar]

I bought some HAL options the first time it went down 10% a few weeks ago, and a few days later it went down another 10%. And then another 5%.

So, I'm down about 80% on my options, but I have till April. Oh well.

[FLYGEEZER]

All good for me, no oil stocks and no way connected to the oil business. I'm really thinkin' about a big ass car with a V8 again.

[aigel]

Affecting ...

Overall it is great for me. The Diesel not reflecting the price drop as much is a bummer, but I still get north of 40 mpg, so no problem. The SUV not needing 100 bucks to fill is also great.

The only negative is that I am in the market for a used SUV and the gas guzzlers are not as cheap as they used to be ...

G

[jcommin]

I'm happy about it. I don't think the fuel surcharges will disappear, just like lower airfares.

The oil/gas industry is no different than any other industry. If you want to stay in business, you need to adjust.

[yetibone]

Still costs $120 to fill up the Burb. It'll go 'bout 500 miles on a tank.

[cgarr]

I hate it! Takes too long to put 20 bux in the car now...

[rwest]

My simple thought based on zero economic training is that when the prices are high, the majority of the population is "giving" most of their extra money to one very small business segment, but when the prices are low, more money gets spread around as people will spent the extra money that was being spent on gas on retail or service businesses across a wide spectrum.

I have to believe that low prices are going to be good for the economy, well not so much for the petroleum sector, but I'm thinking they had plenty already.

Rutager

[asphaltgambler]

With a Jeep SRT8 and BMW XI consuming mass quantities per month in our household 'fixed' expenses have def gown down considerably. I drive @80 miles round trip daily. Her drive @50. We currently have '0' investments in petroleum.

[speeder]

I think it affects everyone in terms of having slightly more disposable income. It is affecting a business decision I'm toying with right now that would involve burning quite a bit of fuel.

[MMiller]

Personally I'm not a fan of low fuel prices....I have a company fuel card so no savings for me, plus I'm in the heavy equipment rental business (mostly Cat stuff) and O&G is a big part of our customer base. If it stays low for too long they will leave it in the ground here in the US I'm afraid...

I get it that it is good for most of the country and I'm glad that those on a tight budget are getting some relief.

[Scott Douglas]

I'm saving up for the $0.15/gal tax increase that is coming Jan 1, 2015.

[74-911]

Originally Posted by hardflex

I'm sure there will be layoffs and less drilling /fracking in TX because of them. I'm not directly involved in those but it will cool the local economy somewhat.

It has already started. When the Eagle Ford rigs finish their current drilling contracts and there isn't a new one waiting, it will more than cool the local economies. Many of these operators are also carrying major debt.

[Instrument 41]

Making me nervous. Louisiana's budget is tied to oil. I deal directly with the operators here in the state. With the exception of one operator, Halcon, everyone else in the TMS, Brown Dense and Cotton Valley are staying put. Have seen where some Cap Ex's are cutting back, but not shut down. Its the double edged sword for me.

[nynor]

just for frame of reference, how much has a barrel of crude dropped? how has this driven prices at the pump? what is driving the price drop, both for barrels and at the pump?

[slow&rusty]

I work on the Engineering Consulting side of the Oil and Gas industry. We are watching prices like a hawk as are our clients (some of the larger oil companies), many "new capital pipeline and facility" projects are having their financial models re-run to determine profitability and health.

Many of the smaller producers are going to really feel the squeeze and the overall industry is still quite busy and healthy...the key is to maintain sustainability.