right now as so many countries economic survial is tied to the price of crude. Like AOES Ltd. president Ken Somers recently stated in a interview the Saudis position to not reduce production is like playing Monopoly.
The person that can keep on the board the longest gets all the properties is the winner. In this game of Oil Monopoly the winner will buy up other country’s equipment and or dominate the market as they reduce the competition. We all love these low prices right now but when the market loses the Soft Money driven Oil Producers then their will be an energy crisis and Oil will be sold to the highest bidder. Good bye to cheap gas as it could be selling at 4 times the price we pay now…..
A History Lesson – Antiques Placed In Museums Or History Repeating Itself
It is important to remember that while nobody buys vinyl records, 8 Track Tapes or travel in covered wagons, Oil has become the Gold of this century and is required in over 6000 products we use every day….
Oil price wars / up and down oil prices are not a new phenomena to the market. Prices go up and go down but like 99.9 percent of the commodities we need every day they always go higher with each passing year.
Warning – Don’t Sell Your Hard Hat & Work boots…
1. Drilling and Service Rigs are but two of the strongest employers in the Oilfield
and cause a plethora of other companies to exist to provide services to keep them moving. These support and maintenance their activity are not all immediately stopped by Drilling Seasons and fluctuations in the price of crude. These companies hire workers throughout the year and have their own employment cycles separate from the Drilling side.
2. Drilling and Service Rig companies are not hiring new workers for no other reason than the ROI or Return on Investment,
but as the price of crude begins to go up all of the low drilling projections we see now will quickly be replaced with ones reflecting more production. The people that are currently enjoying a breather from their Oilfield Jobs will be put back to work and quickly.
3. Crystal Ball Not Working But A Price Rebound is Not Fiction – Be Ready For Work
Over 100,000 Workers are expected to be needed in Alberta over the next 10 years to meet the demand. As I mentioned in a previous post, when Ken took people around for a tour of the 5 Industrial Oilfield Industrial areas it was not uncommon for our grads in a 4 hour tour to get 2 or even 3 job offers. No need to even hand out Resumes for 30 days because they had jobs that fast. This hiring frenzy existed because as Mark Scholz, president of the Canadian Association of Oilwell Drilling Contractors stated at a presentation for the Red Deer, Alberta Chamber of Commerce – A Worker shortage was one of the top 2 challenges for Canada to become an Energy Super Power.
Earn As High As $100,000 Per Year
So we recommend to anyone considering a Career in the Oil & Gas Industry – Get trained now because you will have very little challenge getting employment once the industry moves back to production again. Many people working in the Oilfield earn as much as $30.00 per hour and get time plus one half after working 8 hours. The normal work day is 12 hours and either a 14 or 21 day stretch.
Oilfield Pays Massive Incomes
4 Days Of Training Not 4 Year Degree
Example: 8 hours at $30.00 =$240.00 4 additional hours at $45.00 = $180.00 so for a single day worked you could potentially earn $420.00 and when you multiply this number 21 times you find that you are earning over $8,800.00 and when you multiply that out over 12 months you could see an annual income of over $105,000.00 (this example does not guarantee that you will earn this amount – simply that this is not uncommon)
So What Is Happening With Oil Now And What Is The Good News?
http://news.google.com Wed, 28 Jan 2015 00:48:05 GMT
Inquirer.netOPEC Chief Claims Oil Will Rebound Higher Than In 2008OilPrice.com“Now the prices are around $45 to $55 [per barrel], and I think maybe they reached the bottom and will see some rebound very soon,” al-Badri said Monday in an interview wit …
http://news.google.com Mon, 26 Jan 2015 15:43:49 GMT
Market Watch OPEC chief sees chance of oil zooming to $200 a barrelMarketWatchNEW YORK (MarketWatch) — OPEC has had its foot on the throat of the oil market for months, but the chief of the cartel thinks a rebound might now be at hand, according to new …
http://news.google.com Tue, 27 Jan 2015 06:04:37 GMT
Press TVOil prices to rebound very soon: OPEC chiefPress TVThe kingdom’s decision in late November not to slash output levels led to prices further falling. The OPEC chief, however, said the oversupply was not because of the intergovernmental oil-pro …
http://news.google.com Wed, 28 Jan 2015 17:10:38 GMT
Baxter BulletinLocal gas prices inching upwardBaxter BulletinGasoline prices are on the rise in Mountain Home as of Monday, with the cost at half the outlets in town up from last week. Two stations did drop their prices, and five remained … Patrick …
http://news.google.com Mon, 26 Jan 2015 16:12:12 GMT
Energy Stocks Lift Markets as OPEC Predicts Rising Oil PricesTheStreet.com”Now the prices are around $45-$55 and I think maybe they reached the bottom and will see some rebound very soon,” Abdullah el-Badri told Reuters. El-Badri also said without ne …