I think this is the funniest sequence of events I've seen on Tech in years. LOL! Thanks, guys! 
SO much for the oilfield!!!
Actually you're right. This is all my bad.
Looking back somehow I got you confused as the guy who posted that. Then I went on to think you posted the one all about learning about money. So I thought it looked even more ridiculous.
So yeah. I apologize and am sorry for the trouble! Seems Htownws6 is the one I meant to be aiming those comments at!
Looking back somehow I got you confused as the guy who posted that. Then I went on to think you posted the one all about learning about money. So I thought it looked even more ridiculous.
So yeah. I apologize and am sorry for the trouble! Seems Htownws6 is the one I meant to be aiming those comments at!
LOL. Man, I think we have all been the numb nuts that jumped the gun. At least you had the ***** to admit it and apologize. Actually you're right. This is all my bad.
Looking back somehow I got you confused as the guy who posted that. Then I went on to think you posted the one all about learning about money. So I thought it looked even more ridiculous.
So yeah. I apologize and am sorry for the trouble! Seems Htownws6 is the one I meant to be aiming those comments at!
Looking back somehow I got you confused as the guy who posted that. Then I went on to think you posted the one all about learning about money. So I thought it looked even more ridiculous.
So yeah. I apologize and am sorry for the trouble! Seems Htownws6 is the one I meant to be aiming those comments at!
I wouldn't say that. I will agree he has done some dumb **** in this thread but all of us have been the dipshit in the crowd. People talk about buying dumb **** when we all do. That is what makes life worth while for us. The thing that makes the difference is when a man gets in a bind, how he handles the situation. We're all quick to judge. Offer an alternative once in a while and society will be better for it.
6600 rpm clutch dump of death Administrator
Joined: Dec 2001
Posts: 4,983
Likes: 13
From: Texas
I had a discussion with someone last night about exploration. He is involved with people who are in exploration, specifically, very involved in shale. According to him, most of the rigs that are parked are older less efficient models. Rigs that are newer and more efficient are still running. There are just way less of them.
Now even for those still out there it is not wine and roses in some cases people are drilling, just because they are trying to do whatever they can to stay afloat.
What he related was that by the end of this year there will be ~10,000 capped wells just sitting there waiting to come online when the economics make sense. So, I'm skeptical we'll see a shortage of oil that drive oil prices back up without anything short of a war. So its going to be interesting to see if anyone is going to blink in terms of production to try and drive up demand by cutting production. OPEC might have some control over its members, but it can't control non-OPEC countries.
At the more macroeconomic level here is an article for folks to read. It was written by David Stockman who was Regan's OMB director.
http://davidstockmanscontracorner.co...world-finance/
I was having a conversation with a friend who is probably the most market savy person I know. Basically the conversation boiled down to do you hope that a Democrat get elected so the economy collapses sooner so we get it over with sooner, or do you hope a Republican get elected so economic collapse is delayed a bit more.
Either way we are approaching the an economic singularity (a black hole) brought on by unsustainable debt. What you see in the oil patch is the same at a personal, corporate, and government level. Unsustainable debt...
Now even for those still out there it is not wine and roses in some cases people are drilling, just because they are trying to do whatever they can to stay afloat.
What he related was that by the end of this year there will be ~10,000 capped wells just sitting there waiting to come online when the economics make sense. So, I'm skeptical we'll see a shortage of oil that drive oil prices back up without anything short of a war. So its going to be interesting to see if anyone is going to blink in terms of production to try and drive up demand by cutting production. OPEC might have some control over its members, but it can't control non-OPEC countries.
At the more macroeconomic level here is an article for folks to read. It was written by David Stockman who was Regan's OMB director.
http://davidstockmanscontracorner.co...world-finance/
I was having a conversation with a friend who is probably the most market savy person I know. Basically the conversation boiled down to do you hope that a Democrat get elected so the economy collapses sooner so we get it over with sooner, or do you hope a Republican get elected so economic collapse is delayed a bit more.
Either way we are approaching the an economic singularity (a black hole) brought on by unsustainable debt. What you see in the oil patch is the same at a personal, corporate, and government level. Unsustainable debt...
Last edited by J-Rod; Feb 10, 2016 at 12:20 PM.
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13 year low oil this morning.
Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.
I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...
Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.
I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...
13 year low oil this morning.
Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.
I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...
Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.
I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...
I'm finding that after 8 years, both of my homes have gone to be worth 1.5x purchase price. Between that and getting **** paid off, things are hopefully going to start getting a lot easier.
Teching In
Joined: Oct 2015
Posts: 34
Likes: 0
From: Midland, TX
13 year low oil this morning.
Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.
I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...
Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.
I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...
13 year low oil this morning.
Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.
I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...
Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.
I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...
Teching In
Joined: Oct 2015
Posts: 34
Likes: 0
From: Midland, TX
Can't help but laugh a little about the 'inflated house prices' remark about Houston being out here in Midland. When we moved down we were paying $1200/month for a HORRIBLE 1br/1ba apartment. Left a 2br/1ba house on 3/4 of an acre in CA that had a mortgage of $700/month for it, it was a hard pill to swallow. We finally sold our place in CA and bought a house out here, I wish we had Houston prices (and grass for that matter, but you can keep the humidity :0)
I know the boom prices aren't coming back anytime soon but I just hope that we can get to that $60ish dollar range in the next 2 or so years so that companies here aren't scraping so much, just want a price that sustains the industry.
I know the boom prices aren't coming back anytime soon but I just hope that we can get to that $60ish dollar range in the next 2 or so years so that companies here aren't scraping so much, just want a price that sustains the industry.
Can't help but laugh a little about the 'inflated house prices' remark about Houston being out here in Midland. When we moved down we were paying $1200/month for a HORRIBLE 1br/1ba apartment. Left a 2br/1ba house on 3/4 of an acre in CA that had a mortgage of $700/month for it, it was a hard pill to swallow. We finally sold our place in CA and bought a house out here, I wish we had Houston prices (and grass for that matter, but you can keep the humidity :0)
My housing cost nearly doubled moving from Arizona to Houston.
Teching In
Joined: Oct 2015
Posts: 34
Likes: 0
From: Midland, TX
I'm plenty well versed in the outlying communities, even there you're getting a ton more bang for the buck than you are out this way, if not in the house itself then in the offerings of the community itself. You can get into very decent places at the $100/sq ft price point even in the places you mention. Out here you're in the hood at those prices and to get into a decent place you can be looking at as much as $150/sq ft for houses that are much older.
What part of AZ are you coming from though? Also very familiar with AZ, went to school and played ball at the U of A in Tucson. Aside from the greater PHX area the state is pretty economically depressed, of course housing prices are going to reflect that fact.
What part of AZ are you coming from though? Also very familiar with AZ, went to school and played ball at the U of A in Tucson. Aside from the greater PHX area the state is pretty economically depressed, of course housing prices are going to reflect that fact.
Last edited by ahawes; Feb 12, 2016 at 11:22 AM.