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snowdrift
06-01-2015, 22:51
U.S. Steel lays off 614 workers, citing low oil prices


PITTSBURGH--Citing the collapse in global oil prices, U.S. Steel Corp. will idle its plant in Lorain, Ohio, laying off 614 workers, a company spokeswoman said Tuesday.

The plant makes steel pipe and tube for oil-and-gas exploration and drilling. With oil prices currently around $50 a barrel, their lowest level since 2009, energy companies have far less incentive to drill for new supply, reducing demand for the plant’s products.

“The company has suddenly lost a great deal of business because of the recent downturn in the oil industry,” Tom McDermott, president of United Steelworkers local 1104 wrote to workers, in a letter reviewed by The Wall Street Journal. “What appeared just a few short weeks ago as being a productive year, [with new hires in December and extra turns going on], has most abruptly turned sour.”

Layoffs will begin on March 8, “with additional layoffs occurring through May 2015,” a U.S. Steel X, -2.47% official wrote to the union.

Workers for U.S. Steel in Lorain said they would find out who is being laid off at an evening meeting Wednesday.

http://www.marketwatch.com/story/us-steel-lays-off-614-workers-citing-low-oil-prices-2015-01-06

snowdrift
06-01-2015, 23:00
Cheap oil is killing my job

"All my friends and family keep talking (positively) about low prices. When I say, 'We're all out of jobs now,' they say 'Oh,'" Sharpe, 32, told CNNMoney. "I don't think they realize what's going on in the big picture."

http://money.cnn.com/2015/01/06/news/economy/oil-jobs-gas-prices/index.html?iid=HP_LN


The strong dollar punishes these companies

The U.S. dollar is enjoying its strongest run in nearly a decade. Plenty of people are celebrating how it's a sign of economic health and it makes foreign travel cheap.

But Corporate America isn't nearly as enthusiastic

http://money.cnn.com/2015/01/06/investing/strong-us-dollar-losers/index.html?iid=HP_LN

Russian Lad
06-01-2015, 23:02
Yawn.

snowdrift
06-01-2015, 23:05
Yawn.

that`s all you are capable of :) So, just get out of the way.

Russian Lad
06-01-2015, 23:17
So, just get out of the way.

Ok, sport. Slam on it. Just an opinion though - your efforts, such as pretending to be a foreigner, copying thread names and so forth, are sort of childish and desperate. You cannot stop a storm by spitting against the wind.

fenrir
06-01-2015, 23:24
http://foreignpolicy.com/2015/01/06/putins-eurasian-dream-is-over-before-it-began/

Tsk, tsk. The counter to the EU is dead out of the gate.

http://news.yahoo.com/russians-mortgage-costs-soaring-due-ruble-slide-154724074.html

I actually feel sorry for these people. It's horrible potentially losing one's home.

http://www.forbes.com/sites/markadomanis/2015/01/06/russias-currency-crisis-continues-the-ruble-is-crashing-again/

What? The world's next reserve currency is failing AGAIN? Say it aint so, Joe.

snowdrift
06-01-2015, 23:37
fenrir

off topic. You have already started another thread, so calm down and get out of the way too as your psycho fellow "lad" did.

Russian Lad
06-01-2015, 23:40
get out of the way too.

Yawn. Weren't they supposed to actually _train_ you before giving access to a keyboard and Internet? Your debating skills are, well, debatable.

fenrir
06-01-2015, 23:40
fenrir

offtopic. You have already started another thread, so calm down and get out of the way too.

No, it's not off topic. The topic also includes the global trends in the field of economics. And for some strange and unknown reason you try to make the US look worse. Why?

snowdrift
06-01-2015, 23:53
No, it's not off topic. The topic also includes the global trends in the field of economics. And for some strange and unknown reason you try to make the US look worse. Why?

nice try :) You are pretty funny troll and firm russophobe - I like this combination. In fact, I love the idea, the concept (if you will) of the USA which unfortunately has tremendously been spoilt by purulent hatemongers like you.

bydand
07-01-2015, 00:18
Snowdrift,
In less than 30 posts, you have exposed yourself.
Hope your handlers pay you what you're worth.

Yaks
07-01-2015, 00:21
as i have previously posted, if oil stays this low for a year it will be a 230 billion dollar windfall to consumers in the US and considering consumrs and services make up 75% of the US GDP, it is net positive for the US.

snowdrift
07-01-2015, 00:22
Hmmm bydand, you are pretty weird. So, everyone who doesn`t join your shabby russophobe mob exposes himself as who?



Former Va. Gov. McDonnell Sentenced to 2 Years for Corruption

http://www.wsj.com/articles/former-virginia-gov-mcdonnell-to-face-sentencing-tuesday-1420542002

Russian Lad
07-01-2015, 00:26
exposes himself as who?

Some info in Spanish for you here: http://compromatwiki.org/wiki/%D0%A4%D0%B0%D0%B1%D1%80%D0%B8%D0%BA%D0%B0_%D1%82%D1%80%D0%BE%D0%BB%D0%BB%D0%B5%D0%B9

And here, also in Spanish: http://novayagazeta.livejournal.com/1611028.html

TolkoRaz
07-01-2015, 00:31
as i have previously posted, if oil stays this low for a year it will be a 230 billion dollar windfall to consumers in the US and considering consumrs and services make up 75% of the US GDP, it is net positive for the US.

How much did oil make for the US of A GDP when it was over $120 a barrel?

Also, the lower the pump price presumably means that Western Governments will raise less tax from the sale per litre to the vehicle owner?

I am not an economist, so please excuse the basic questions!

bydand
07-01-2015, 00:35
Hmmm bydand, you are pretty weird. So, everyone who doesn`t join your shabby russophobe mob exposes himself as who?



Former Va. Gov. McDonnell Sentenced to 2 Years for Corruption

http://www.wsj.com/articles/former-virginia-gov-mcdonnell-to-face-sentencing-tuesday-1420542002

Hmmm......

Russian Lad
07-01-2015, 00:43
Mmmmmmmm...

Yaks
07-01-2015, 00:50
How much did oil make for the US of A GDP when it was over $120 a barrel?

Also, the lower the pump price presumably means that Western Governments will raise less tax from the sale per litre to the vehicle owner?

I am not an economist, so please excuse the basic questions!

nothing close to what consumer spending makes. The US produces a lot of oil and gas but it is used domestically. only now are we looking at a US that has the potential to earn export dollars from production.

Economy of the United States - Wikipedia, the free encyclopedia

in 2013 (when oil was much higher) consumer spending was 71% of the US economy.

snowdrift
07-01-2015, 00:52
as i have previously posted, if oil stays this low for a year it will be a 230 billion dollar windfall to consumers in the US and considering consumrs and services make up 75% of the US GDP, it is net positive for the US.

Those 600+ workers from that steel factory in Ohio and their families and many others across the country would join the celebration if they hadn`t lost their jobs. Moreover, oil production is (still?) on the rise (http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS1&f=M) in the USA creating new jobs which has recently been referred to as a great relief and the media have been talking about blooming economies in Texas or Dakotas. If oil stays this low for a year - as you state - many jobs will be swept off the labour market. And not only in the oil industry - in the related sectors too and it will affect consumer spending. Strong currency will not facilitate exports. I think that as always the rich get richer and the poor get poorer.

TolkoRaz
07-01-2015, 00:53
Much of that consumer spending was possibly credit card which becomes a debt?

Korotky Gennady
07-01-2015, 01:06
Hmmm......


Mmmmmmmm...

he-he-h-e-h-e-h-e-h-e-he.... op !

Korotky Gennady
07-01-2015, 01:08
Much of that consumer spending was possibly credit card which becomes a debt?

ho-ho-ho-ho-ho....

Korotky Gennady
07-01-2015, 01:12
Those 600+ workers from that steel factory in Ohio and their families and many others across the country would join the celebration if they hadn`t lost their jobs. Moreover, oil production is (still?) on the rise (http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS1&f=M) in the USA creating new jobs which has recently been referred to as a great relief and the media have been talking about blooming economies in Texas or Dakotas. If oil stays this low for a year - as you state - many jobs will be swept off the labour market. And not only in the oil industry - in the related sectors too and it will affect consumer spending. Strong currency will not facilitate exports. I think that as always the rich get richer and the poor get poorer.

Maybe low oil prices are profitable for american economy. We are not economists and we don't know the real economic situaton overseas.

Korotky Gennady
07-01-2015, 01:19
snowdrift, only you are the great economist and know what is profitable for american economy and what is not... :))))

And what the best economic strategy for the united states is.

Yaks
07-01-2015, 01:24
Those 600+ workers from that steel factory in Ohio and their families and many others across the country would join the celebration if they hadn`t lost their jobs. Moreover, oil production is (still?) on the rise (http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS1&f=M) in the USA creating new jobs which has recently been referred to as a great relief and the media have been talking about blooming economies in Texas or Dakotas. If oil stays this low for a year - as you state - many jobs will be swept off the labour market. And not only in the oil industry - in the related sectors too and it will affect consumer spending. Strong currency will not facilitate exports. I think that as always the rich get richer and the poor get poorer.

no, as I previously posted it was called the "possible greatest transfer of wealth in history" of money going from gulf states to the US, going from oil producers to US consumers. Some miss out when economic conditions change, but it is mostly all upside for the US.

As for the US dollar, it has lost more than a third of its value since 2000, sure it is on the upswing now and that will continue but it has a long way to go before it faces any pressure. Most of what the US produces is for domestic production and what it doesn't such as aircraft are bought regardless of the exchange rate.

snowdrift
07-01-2015, 01:35
Gulf states are not significant in the US oil imports. Canada, Brazil, Mexico, probably Venezuela and, of course, domestic production. Earlier I posted some links where both experts and plain people don`t support your festive mood. Anyway, lets see.

PJB
07-01-2015, 01:59
Snowdrift,
In less than 30 posts, you have exposed yourself.
Hope your handlers pay you what you're worth.

If he's smart he'll make sure to get paid in dollars, not rubles! ;)

snowdrift
07-01-2015, 02:08
PJB you are so materialistic :) Besides, you totally forgot about euros ;)

Yaks
07-01-2015, 02:17
Gulf states are not significant in the US oil imports. Canada, Brazil, Mexico, probably Venezuela and, of course, domestic production. Earlier I posted some links where both experts and plain people don`t support your festive mood. Anyway, lets see.

I didn't state where the US was getting its oil from, I was pointing out the effective winners and losers worldwide in the scenario.

Yaks
07-01-2015, 05:31
Australian perspective:

http://www.news.com.au/finance/economy/oil-prices-hit-five-year-low-heres-what-it-could-mean-for-you/story-e6frflo9-1227177070628

FatAndy
07-01-2015, 05:38
I don't notice smth too bad in the current situation in US. People spend money hard, everyone looks happy. But it's in Las Vegas :D, big entertainment village. And I'm here only 2nd day.

Carl
07-01-2015, 08:21
I don't notice smth too bad in the current situation in US. People spend money hard, everyone looks happy. But it's in Las Vegas :D, big entertainment village. And I'm here only 2nd day.

I just returned from a two week stay on the west coast of the US of A.
I was quite stricken by the general sense of optimism. I must if seen hundreds of "help wanted" signs in these two weeks. People are spending freely & consuming on a large scale. The wife even made the comment..."it's hardly a surprise the U.S. economy is doing so well with all the consumption on display".. Another interesting take is that I don't recall even one mention on the evening news programs about Russia. Quite a difference in comparison from my recent (past 8-9 months) expereances with Russian nightly news. I'm wondering if Russia hasn't marginalized herself to the category of "not relevant" over the past year or so...?

FatAndy
07-01-2015, 10:51
I'm wondering if Russia hasn't marginalized herself to the category of "not relevant" over the past year or so...?
If yes, then it's good. If not, this means US media either don't mention Russia or don't understand what is going there. In both cases it's even better. ;)

TolkoRaz
07-01-2015, 11:56
If yes, then it's good. If not, this means US media either don't mention Russia or don't understand what is going there. In both cases it's even better. ;)

Do the majority of citizens in the US of A know where the RF is, apart from the RF being close to the UKR? ;)

FatAndy
07-01-2015, 12:38
Do the majority of citizens in the US of A know where the RF is, apart from the RF being close to the UKR? ;)
I have no stats and don't want to collect. When speaking with locals, I don't touch politics. They avoid it too. Maybe they're just polite.:D
And RF isn't "being close" to UKR. It's same country, artificially broken off to parts.

Russian Lad
07-01-2015, 14:47
And RF isn't "being close" to UKR. It's same country, artificially broken off to parts.

Just like the US and Canada?

Judge
07-01-2015, 14:57
And RF isn't "being close" to UKR. It's same country, artificially broken off to parts.

you are right in a way..



In reality Ukraine does not have real established and ratified borders with Russia

Yaks
07-01-2015, 15:07
you are right in a way..

Yes it does, according to the agreement the Russians signed in the 90s and broke with annexing of Crimea.

snowdrift
07-01-2015, 15:36
I don't notice smth too bad in the current situation in US. People spend money hard, everyone looks happy. But it's in Las Vegas , big entertainment village. And I'm here only 2nd day.

LA is thought to drain money out of people. And most people you see there are tourists (many Asian tourists). It would be strange If they didn`t look happy on vacation.

Judge
07-01-2015, 16:06
Yes it does, according to the agreement the Russians signed in the 90s and broke with annexing of Crimea.
true, but sometimes agreements mean nothing,it's not the first time and won't be the last time that agreements get trampled on.

Fantastika
07-01-2015, 16:23
Woooh-hoooo!!!!

$1.73 a gallon! Since I am driving 450 miles today, let's see, in September it was $3.50, now it's half that, I get 30 miles to the gallon, hmm, I can get 15 "free" Happy meals...

Russki_Lad, if you are so bored ("yawn") by this thread, why do you reply? If you were really bored, you would not be interested, and would be doing something else - something interesting to you. Instead, you claim you are bored - but by replying you reveal that you are not bored.

Russian Lad
07-01-2015, 16:27
Woooh-hoooo!!!!

$1.73 a gallon! Since I am driving 450 miles today, let's see, in September it was $3.50, now it's half that, I get 30 miles to the gallon, hmm, I can get 15 "free" Happy meals...

God bless America!:)



Instead, you claim you are bored - but by replying you reveal that you are not bored.

Allow me some female self-contradiction and discrepancy.:)

Fantastika
07-01-2015, 16:29
Yes it does, according to the agreement the Russians signed in the 90s and broke with annexing of Crimea.

That "agreement" also stipulated the West would not interfere in Ukrainian politics, which, obviously, though NGO's like US AID, and Poroshenko's funding of the Maidan looters, arsonists and rioters, the West ripped up those documents and tore them into shreds. The West initiated the problem, and now the West is exacerbating it.

Fantastika
07-01-2015, 16:31
God bless America!:)



If you ever got a letter from the IRS, you might say the other guy (down below) is "blessing" the US. :)

Fantastika
07-01-2015, 16:39
Do the majority of citizens in the US of A know where the RF is, apart from the RF being close to the UKR? ;)

Most people in the US think the US is the "world". Anyplace else is like...Mars.

Judge
07-01-2015, 16:50
Woooh-hoooo!!!!

$1.73 a gallon! Since I am driving 450 miles today, let's see, in September it was $3.50, now it's half that, I get 30 miles to the gallon, hmm, I can get 15 "free" Happy meals...

.


So it's one company(Chevron ) loses and another like McDonalds gains...

Carl
07-01-2015, 16:54
So it's one company(Chevron ) loses and another like McDonalds gains...

That's called economic diversification..:whisper:

Judge
07-01-2015, 17:07
That's called economic diversification..:whisper:


and obesity rates will go through the roof....maybe expensive gas is a good thing for yanks, will make them walk more..:10518:

Fantastika
07-01-2015, 17:16
How much did oil make for the US of A GDP when it was over $120 a barrel?

Also, the lower the pump price presumably means that Western Governments will raise less tax from the sale per litre to the vehicle owner?

I am not an economist, so please excuse the basic questions!

I am not economist either, but the tax stays the same! You don't think the bureaucrats are going to give up a kopeck of their tax loot back to the peons, do you? In Deutschland, even if the price of oil fell to $1/barrel, the price of gasoline would still be over $2 liter ($2 tax on each liter).

But less oil revenue means less wealth for millions of people who own stocks of the big oil companies, lower quarterly dividends, and the farmers around here, with the small oil derricks in their corn fields, are not laughing all the way to the bank, they are just smiling, or frowning... :) ... :mad:

Judge
07-01-2015, 17:22
US shale drillers drowning in a sea of debt.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11231383/Oil-price-slump-to-trigger-new-US-debt-default-crisis-as-Opec-waits.html

It's not only loss of work for oil workers but some drillers won't be able to pay the banks off, which could lead to another banking crisis in America..

Fantastika
07-01-2015, 17:24
and obesity rates will go through the roof....maybe expensive gas is a good thing for yanks, will make them walk more..:10518:

I know this is off-topic, but every 15 minutes I hear an ad on the radio pleading for donations to fight "child hunger." :mooooh: 50 million people on food stamps, and what's obvious to anyone with an least one working optical organ, is the problem is child obesity. The biggest daily "walk" they make is from the front door of the house, to the SUV in the driveway. :11363:

Judge
07-01-2015, 17:35
I know this is off-topic, but every 15 minutes I hear an ad on the radio pleading for donations to fight "child hunger." :mooooh: 50 million people on food stamps, and what's obvious to anyone with an least one working optical organ, is the problem is child obesity. The biggest daily "walk" they make is from the front door of the house, to the SUV in the driveway. :11363:


is that 50m people in America who can't afford food and need help... like 15% of Americans living below the poverty line?

TolkoRaz
07-01-2015, 17:42
US shale drillers drowning in a sea of debt.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11231383/Oil-price-slump-to-trigger-new-US-debt-default-crisis-as-Opec-waits.html

It's not only loss of work for oil workers but some drillers won't be able to pay the banks off, which could lead to another banking crisis in America..

That is precisely Saudi's aim now that the US of A has softened its stance on Iran!

TolkoRaz
07-01-2015, 17:43
The biggest daily "walk" they make is from the front door of the house, to the SUV in the driveway. :11363:

I thought it was to the fridge!

Fantastika
07-01-2015, 17:57
I thought it was to the fridge!

Walking to the fridge 46 times a day counts as "exercise"!

Fantastika
07-01-2015, 18:09
is that 50m people in America who can't afford food and need help... like 15% of Americans living below the poverty line?

When Obama's regime started (2008)there were only 28 million on food stamps. And the "poverty line" is like $24,000 for a family of our. I rented out my DC-area house to a "Section 8" government program (only "poor" people qualify to rent it). I got $1750 month, so the unmarried woman and her children via 4 different fathers is getting $1750/month subsidy for rent, maybe $1500 welfare, and another $900 in food stamps, how much is that? Four grand a month? $50,000/year. On top of that, she is working in the underground economy, making more money, and not reporting her wages, so she is not paying any taxes.

The US has lost its "War on Poverty". Mainly because of a lack of understanding about poverty and about people.

FatAndy
08-01-2015, 04:13
LA is thought to drain money out of people. And most people you see there are tourists (many Asian tourists). It would be strange If they didn`t look happy on vacation.
No, i mean locals, not foreigners

Fantastika
08-01-2015, 04:48
$1.66 per gallon in Wichita! (cash price). $1.72 with credit card. The old Junkmobile ("1993 Scrap-Iron-on-Wheels") is slurpy-happy as Russian Lad seeing the ruble at 85 to a dollar!

Eat your heart out, Bydand! :) What's the price in LA? Or should I say LE (Land of Earthquakes)? :)

PJB
08-01-2015, 06:56
$1.66 per gallon in Wichita! (cash price). $1.72 with credit card. The old Junkmobile ("1993 Scrap-Iron-on-Wheels") is slurpy-happy as Russian Lad seeing the ruble at 85 to a dollar!

Eat your heart out, Bydand! :) What's the price in LA? Or should I say LE (Land of Earthquakes)? :)

I'll take Los Angeles earthquakes over Kansas tornados any day!

vossy7
08-01-2015, 07:45
I'll take Los Angeles earthquakes over Kansas tornados any day!

I'll take Manhattan the Bronx and Staten Island too :7534:

FatAndy
08-01-2015, 16:33
In Bellagio they pour Remy Martin not from a bottle but from fuel hose! ;) Damned rotten society...:D

Though i was able to find normal coffee across the road, in Mon Ami Smth... and fillet mignon was not bad too ;)

Russian Lad
08-01-2015, 16:46
In Bellagio they pour Remy Martin not from a bottle but from fuel hose! Damned rotten society...

Though i was able to find normal coffee across the road, in Mon Ami Smth... and fillet mignon was not bad too

Was your Champaigne slightly chilled?

http://www.youtube.com/watch?v=WF56VO0qqLQ

Fantastika
08-01-2015, 17:17
I'll take Manhattan the Bronx and Staten Island too :7534:

I'll drive by the hoi-polloi and go on to the Hamptons!

Russian Lad
08-01-2015, 17:21
I'll drive by the hoi-polloi and go on to the Hamptons!

If FatAndy is there somewhere maybe you should meet up or something. You seem to be on a male hunt anyway.:)

Fantastika
08-01-2015, 17:27
I'll take Los Angeles earthquakes over Kansas tornados any day!

:) Last year, there was a tornado roaring toward town. My neighbor had said she had a basement in her house, but when I looked, her house was dark and they were somewhere else. So I drove down to the gas station and there was a pickup truck there.

"Hey,where's the tornado shelter?" I yelled over the rising wind.
"That's what we're looking for!" they replied.

We just looked at each other, then they took off in the opposite direction from the tornado, and I went to the fire station, where the fire chief was running the town siren, and I watched the Weather Channel. The tornado dissipated a few miles from town. Later on I found out everyone, including Dorothy (the assistant coach of the girls basketball team), goes to the basement of the big Catholic church, in event of twister.

bydand
08-01-2015, 18:02
$1.66 per gallon in Wichita! (cash price). $1.72 with credit card. The old Junkmobile ("1993 Scrap-Iron-on-Wheels") is slurpy-happy as Russian Lad seeing the ruble at 85 to a dollar!

Eat your heart out, Bydand! :) What's the price in LA? Or should I say LE (Land of Earthquakes)? :)

Did you really mean me? I don't live in LA. In Kashin the price is about 35 rubbles/ liter. I can walk across town, one end to the other, in one hour! Don't drive much anymore, like in the US.

Oh, and I can remember when gas was $0.29 a gallon! I was appalled when it hit one dollar! Well... live and learn they say.

Fantastika
08-01-2015, 18:34
Did you really mean me? I don't live in LA. In Kashin the price is about 35 rubbles/ liter. I can walk across town, one end to the other, in one hour! Don't drive much anymore, like in the US.

Oh, and I can remember when gas was $0.29 a gallon! I was appalled when it hit one dollar! Well... live and learn they say.

Sorry, thought you were from Southern Cal. :confused1: So it's about $2 gallon there? Not bad! Yesterday I drove 450 miles for about $25.

Russian Lad
08-01-2015, 18:48
Yesterday I drove 450 miles for about $25.

While enjoying this fabulously cheap ride did you keep hating your government that is trying to keep you a happy consumer?

Fantastika
08-01-2015, 19:48
While enjoying this fabulously cheap ride did you keep hating your government that is trying to keep you a happy consumer?

What? I thought you were opposed to the government. If they give you things, like free cell phones or food stamps, it only means they took them from someone else (as taxes) and gave themselves (bureaucrats) fat salaries and pensions.

Repeat after me:

"All government is bad.
Big government is evil.

All government is bad.
Big government is evil."

...

Russian Lad
08-01-2015, 19:54
I thought you were opposed to the government.

Not to yours at the moment.:)

PJB
08-01-2015, 21:08
What? I thought you were opposed to the government. If they give you things, like free cell phones or food stamps, it only means they took them from someone else (as taxes) and gave themselves (bureaucrats) fat salaries and pensions.

Repeat after me:

"All government is bad.
Big government is evil.

All government is bad.
Big government is evil."

...

Didn't your government plan, build and maintain those roads you are driving on? America uses your taxes to provide you with one of the best interstate systems in the world. All those state signs that tell you where the next gas station, café and motels are (and which exit to use) are provided by the government that uses your taxes to make your life easier.

FatAndy
08-01-2015, 21:46
Was your Champaigne slightly chilled?
I didn't go on it yesterday. Cote du Rhone, then some 10 y.o. KKZ and then Remy.

snowdrift
09-01-2015, 15:18
The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming


a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money. There are many more to come...


American oil and gas companies have gone heavily into debt during the energy boom, increasing their borrowings by 55% since 2010, to almost $200 billion

http://www.zerohedge.com/news/2015-01-07/first-shale-casualty-wbh-energy-files-bankruptcy-many-more-coming

Fantastika
09-01-2015, 18:03
Didn't your government plan, build and maintain those roads you are driving on? America uses your taxes to provide you with one of the best interstate systems in the world. All those state signs that tell you where the next gas station, café and motels are (and which exit to use) are provided by the government that uses your taxes to make your life easier.

Yeah, you cherry pick one of the rare things that government does not screw up when it sticks its big fat nanny-nose into things. Roads and defense, yes these are legitimate affairs of government. A town, city or state can not build a road without the cooperation of the next town, city or states, so, enter the federal government. Nor can a small burg, by itself, defend against Islamo-Nazi terrorists.

But, consider what has happened to the government's "War on Poverty". LBJ declared this in the 1960's, and poverty in 2015, according to Obama, is worse than ever. Despite spending $trillions of dollars, enough so that every person in "poverty" could have received a cash grant of $200,000, instead all these huge sums vanished into a black hole of waste, fraud and abuse. TWO-THIRDS of all the money spent on the "War on Poverty" went to pay the salaries and expenses of the bureaucrats and social workers "managing" the "poor people."

How about the "War on Drugs"? What a disater that has been. It has led to the rise of narco-terrorism in Mexico and a population addicted to legal drugs like Prozac, and children mal-educated into stupidity through forced prescriptions to Ritalin, Klonopin, etc.

How about Health Care? Americans, that is, those who actually work for a living, are seeing huge increases in their insurance premiums and corresponding decreases in the quality of their care. Now, when I go to the doctor, in the office there are 4 bureaucrats-secretaries-office managers-quasi-nurses. So I paying not just the doctor, but 4 other medi-crats.

The government, whatever it touches, turns to crap, with a few viable and significant exceptions, such as national defense and highways. As far as highways go, you know projects like the Springfield interchange in Virginia, the DC Metro line to Dulles Airport, Boston's "Big Dig", etc., they are $billion-dollar boondoggles that overrun their planned, estimated costs by 200-500%. There will never be another project like the Interstate system in America, it is impossible given the federal bureaucracy and unions demanding stratospheric wages. Today, the US can not even fly to a space shuttle, let alone to the moon or Mars.

Why do Progressives side with the government? Is it they don't like people, they don't trust people, they have no faith in anything? They want a big brother, soft tyranny, type of government, to micromanage every aspect of everyone's life, from birth to death, rather than giving everyone their liberty? What's wrong with freedom?

George Washington, Thomas Jefferson, George Mason, and the other Founding Fathers were right when they warned of the evils of government and arranged numerous checks and balances to prevent it from becoming too powerful. They knew a big government would become corrupt, and abusively seek to control the commoners.

It may be more comfortable to give up your freedom for promises of more comfort and security. This does not mean you will gain either freedom or comfort or security in the future.

PJB, maybe you would be more happy in that movie, the Matrix, in your Happy pod, drinking your Happy meal, along with all the rest of the Matrix Happy Podders.

As far as "All those state signs that tell you where the next gas station, café and motels are..." there's GPS and Garmin,etc., who needs signs? Government (the NSA) is even misusing that, hijacking it to track people.

bydand
09-01-2015, 18:35
The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming


a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money. There are many more to come...
http://www.zerohedge.com/news/2015-01-07/first-shale-casualty-wbh-energy-files-bankruptcy-many-more-coming

Wow! a whole company in Murika?

What will happen in Russia?

Fantastika
09-01-2015, 18:55
Wow! a whole company in Murika?



One cowboy, thinking his black gold was going to make himself a zillionaire, does not spell doom for shale-oil industry.The boys who talked themselves, and their banks, into risky loans, may go under, the rest will just pull back and come out again when it's profitable.

snowdrift
09-01-2015, 19:35
bydand

If you had read the article properly you wouldn`t have written such a pathetic comment. Lets wait for your soul friend antirussian lad to come with bunch of similar troll comments.

Russian Lad
09-01-2015, 20:21
If you had read the article properly you wouldn`t have written such a pathetic comment. Lets wait for your soul friend antirussian lad to come with bunch of similar troll comments.

Better worry about the collapsing ruble and the fact that Russia is now officially among the five global economies heading to default, barely balancing above the garbage investment level. Whatever I say is not as important as the factual lay of the land. It is not promising anything good to Russia. Who is to blame? Certainly not the Russian liberals like me. We are just watching the show and cannot help the developments. We are not in power and are outnumbered. Yet.

snowdrift
09-01-2015, 20:34
Russian Lad

I repeat - if you don`t like something you are free to leave for a better place. France seems to be very suitable choice for you and your russophobe fellows :)

Russian Lad
09-01-2015, 20:43
I repeat - if you don`t like something you are free to leave for a better place.

I believe we have already covered this. I am not going to waste my time on you going in circles about the same fantasies of yours. My location doesn't change much by the way. Even if I am in France or in Panama I will still be able to post here, so in this respect your claim is nothing but a slogan without anything of substance behind it. It would make some sense 50 or 60 years ago, now it is risible. In order to truly fulfil your fantasies, you will need to make the North Korea here, but I doubt even you are looking forward to such a scenario.

FatAndy
09-01-2015, 20:48
Wow! a whole company in Murika?
As far as i remember, Sumitomo has stopped attempts to reach economical effects on shale affairs in US as well, several months ago. :)


What will happen in Russia?
Will see.

PJB
10-01-2015, 07:35
Fantastika, you have such a negative attitude about the country you are living in! I can't imagine living here and being so miserable and angry. Have you found any other system in the world that is better? Any plans to dump your US citizenship and move to a better place?

Fantastika
10-01-2015, 11:07
Fantastika, you have such a negative attitude about the country you are living in! I can't imagine living here and being so miserable and angry. Have you found any other system in the world that is better? Any plans to dump your US citizenship and move to a better place?

Kind of a waste of time to discuss anything with you - you just resort to a personal attack, instead of addressing any of the numerous issues I brought up.

You made example of a civic issue - building roads - which government handles well. Actually, it doesn't, as I pointed out. And I gave counter-examples of issues in which government intervention resulted in that societal situation worsening. Instead of rebutting any of those issues, or discussing anything in an adult manner, you attempt to assassinate my character, negatively evaluate my attitude, and throw in gratuitous insults.

If you want to intelligently discuss something, fine.
If you only seek to throw insults, fine.

Let's stick to one or the other, okay?

PJB
10-01-2015, 12:43
Those were not insults or personal attacks but serious questions. I find that most of your posts about America express a strong dissatisfaction with the system here. I am actually curious to know if you have looked at or lived in other countries and found a system that you would find more appealing.

Fantastika
10-01-2015, 17:24
Those were not insults or personal attacks but serious questions. I find that most of your posts about America express a strong dissatisfaction with the system here. I am actually curious to know if you have looked at or lived in other countries and found a system that you would find more appealing.

You are still avoiding the discussion that you yourself initiated - about the American system, and you are attempting to make the discussion about me.

You put up the proposition that American government under Barack Hussein Obama is good. I knocked it down. Now you refuse to answer any of those factual statements about the government that I posted, and continue to attack me.

So I have a "serious question" about your lack of ability to effectively communicate with your fellow human beings, or understand anything whatsoever about human interaction.

Your fear of engaging in any serious discussion reveals a shallow superficiality and naivete about the soft tyranny and social chaos (diversity) occurring in America.

As far as being "miserable and angry", look in a mirror! There's no one on earth more miserable and full of rage and condescendingly arrogant as a Progressive from the Left Coast, who constantly whine and complain about "racism" "homophobia" "sexism" "Islamophobia," the "environment" "income inequality" "social justice" "gun control" "abortion" "rich people" and whatever is their focus of rage this week.

PJB
11-01-2015, 03:49
You are still avoiding the discussion that you yourself initiated - about the American system, and you are attempting to make the discussion about me.

You put up the proposition that American government under Barack Hussein Obama is good. I knocked it down. Now you refuse to answer any of those factual statements about the government that I posted, and continue to attack me.

So I have a "serious question" about your lack of ability to effectively communicate with your fellow human beings, or understand anything whatsoever about human interaction.

Your fear of engaging in any serious discussion reveals a shallow superficiality and naivete about the soft tyranny and social chaos (diversity) occurring in America.

As far as being "miserable and angry", look in a mirror! There's no one on earth more miserable and full of rage and condescendingly arrogant as a Progressive from the Left Coast, who constantly whine and complain about "racism" "homophobia" "sexism" "Islamophobia," the "environment" "income inequality" "social justice" "gun control" "abortion" "rich people" and whatever is their focus of rage this week.

Part of a discussion about the American system is to compare it with other systems. I'm asking you for comparisons with other governing systems in the world and if there are some that you find more appealing. You have made it perfectly clear that you don't like the laws and how the American Government treats American citizens. Now the next step of the debate is to compare it to how other governments work. England or France maybe? I am interested in your opinions, not trying to harass you.

Fantastika
11-01-2015, 08:06
Part of a discussion about the American system is to compare it with other systems. I'm asking you for comparisons with other governing systems in the world and if there are some that you find more appealing. You have made it perfectly clear that you don't like the laws and how the American Government treats American citizens. Now the next step of the debate is to compare it to how other governments work. England or France maybe? I am interested in your opinions, not trying to harass you.

Well, if you're living the American system, as it was in the past, good for you, I'm happy for you. :)

However, Obama vowed to "fundamentally transform America" and he is succeeding. It is not the American system as it was in the recent past. It is not the American system as it was established in the late 18th century. Such "change" as promised by the Teleprompter, has happened almost overnight.

All branches of government have become corrupt. The President is issuing decrees like a dictator. The Congress is ignoring the will of the people, and abdicating its responsibility to compose a responsible debt-free budget. The Judiciary has assumed powers formerly reserved only to executives and legislatures, not to mention the people. The Bureaucracies (Federal Agencies) are self-feeding and growing like monstrous blobs, and enacting statutes with criminal penalties without oversight by anyone but themselves. The IRS has become, to too many Americans, a terrorist organization. The Media, instead of being the "Fourth Estate" and investigating government corruption, has gone on a Rip Van Winkle decades-long snooze, or one-sidedly attacked and vilified anyone attempting to shine some light on the disintegration by diversity of the USA. And the people, the good taxpaying citizens of this country, have about as much freedom as one of the pod-people in the movie "The Matrix," thanks to Barack Hussein's unleashing of the IRS and NSA to alter the political climate, and suppress and criminalize the people's popular movement known as the Tea Party.

As far as England or France goes, I have never spent a great deal of time there, so I will not venture opinions about cultures I know little about, and I think an opinion from someone who hasn't spent at least a year or two there on the ground, is not worth much.

Claiming that "our" system is better than "their" system does not imply that our system is a "good" system, especially the system as it is presently being exploited by those in power.

PJB
12-01-2015, 07:33
Well, if you're living the American system, as it was in the past, good for you, I'm happy for you. :)

However, Obama vowed to "fundamentally transform America" and he is succeeding. It is not the American system as it was in the recent past. It is not the American system as it was established in the late 18th century. Such "change" as promised by the Teleprompter, has happened almost overnight.

All branches of government have become corrupt. The President is issuing decrees like a dictator. The Congress is ignoring the will of the people, and abdicating its responsibility to compose a responsible debt-free budget. The Judiciary has assumed powers formerly reserved only to executives and legislatures, not to mention the people. The Bureaucracies (Federal Agencies) are self-feeding and growing like monstrous blobs, and enacting statutes with criminal penalties without oversight by anyone but themselves. The IRS has become, to too many Americans, a terrorist organization. The Media, instead of being the "Fourth Estate" and investigating government corruption, has gone on a Rip Van Winkle decades-long snooze, or one-sidedly attacked and vilified anyone attempting to shine some light on the disintegration by diversity of the USA. And the people, the good taxpaying citizens of this country, have about as much freedom as one of the pod-people in the movie "The Matrix," thanks to Barack Hussein's unleashing of the IRS and NSA to alter the political climate, and suppress and criminalize the people's popular movement known as the Tea Party.

As far as England or France goes, I have never spent a great deal of time there, so I will not venture opinions about cultures I know little about, and I think an opinion from someone who hasn't spent at least a year or two there on the ground, is not worth much.

Claiming that "our" system is better than "their" system does not imply that our system is a "good" system, especially the system as it is presently being exploited by those in power.

So as a taxpayer, citizen and registered voter do you see anyway that you can work towards changing any of this?

Have you studied, looked at or heard of other systems that you would like the American system to emulate?