12/19/2014

Oil & Gas Makes the World Go Round

We all know (unless you live under a rock) that oil prices have been dropping steadily over the last while.  Unfortunately for me, living in Alberta, our provincial income is heavily reliant on it...not to mention my employer.  So oil prices hanging out around $55/barrel is not very good....we like to see it at $80+.

So...not good for work, not good for the province.

But it is good when I'm fueling up the car to go to work (thought if it keeps up much longer, I might not have work to go to).

These photo's were taken just this morning!

Gas prices have dipped to 80.9 at Costco where I live.  There are some Shell's and other fueling stations that still are at 89.9; but by and large everyone is below 90 cents now.

I'm going to take this as a blessing leading up to Christmas, but am also going to cross my fingers for OPEC to stop messing around.
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2 comments:

  1. Jessie, I don't mean to offend you with this comment but I'm going to say it anyway. Gas prices have only been this high 5-7 years. Was your company not able to make a profit over 7 years ago? I bet they were. They can adjust to the lower oil prices. I live in North Dakota and we've profited tremendously at the high oil prices but at everybody else's expense. We are projected to have over 2 billion in reserves and budget surplus for ND alone. However, I would be happy if gas prices came down because wages have not kept up with inflation that high oil prices have caused.

    That said, I do think that oil prices will increase. I bought $4000 of shares in BP and Conoco and have already increased my investment by $400 in a week.

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    1. Hey ND! I'm sorry I missed this! We were out visiting Jordan's family over the last few days and I didn't have my laptop with me.

      No offence taken at all :) The fact is that with oil prices hanging out around $55, there will be less discretionary spending in my organization and my functional unit is often considered pretty discretionary. I should be fine for quite a while with oil where it is, but if the prices hang out in the $40 range; much like they were during the recession, then my job could be in trouble. My organization? No, they'll be fine....one of the ways organizations weather financial storms, is by downsizing...rightsizing...whatever they want to call it.

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