Are low ga/oil prices hurting or helping you?

Just asking my fellow dopers?

I suppose if you had a job in the petroleum industries you are hurting but the rest of us are enjoying putting less of our money in our gas tanks.

I would bet this summer if the low prices continue we will see record amounts of people taking car vacations and they wont mind pulling gas mileage eating trailers.

Working Well for me. Less than $25 to fill my tank from near empty.

It’s great news for both my employer and for me personally.

The only fly in the ointment would be if the low prices are really just a leading indicator of impending recession. That would not be good for either of us. Though better a recession with $30/bbl oil than with $100/bbl oil.

Both. I like paying less at the pump, but on the other hand, I bought some energy stocks a year or two ago on what I thought was a steep dip. I didn’t know they’d continue to plunge!

Some of my friends / associates are taking a major hit, but these are the same people who were vastly overpaid years ago.

As someone who was in the industry, oil & gas is VERY boom and bust. My friends who realized this early on, and stored money for a rainy day are still doing fine. Those who took their 6-figure salaries and spent the money exorbitantly? Notsomuch.

I remember back in '08 and '09, they’d hire you on at an amazingly high rate, and then you could find yourself laid-off 5 months later. And, since (at least in my line of work), you were an independent contractor, you’d not be afforded certain protections once you were let go.

I don’t drive much, so I don’t feel much relief at the pump. But I’m sure it is helping in innumerable invisible ways, such as in the price of anything that has to get delivered to your area (groceries, in particular). And all that money that everyone is saving just has to help stimulate the economy.

Totally wiped out my heavy metal employer. Went from 24/7 production to layoffs one week a month. With 50% production (employment) the 4 days the remainder does work. Our major customer is in the components of pipeline / refinery supply business.

Oil and gas employee here. It’s significantly impacted our operations worldwide. I’m employed for now, but I’m prepared should the axe fall. I figure if I make it though this summer I’ll be fine.

Price per barrel gets back above $60, everyone involved in the upstream side will be horribly short of experienced personnel and frantically looking for new hires. Doesn’t strike me as a very efficient way of running an industry that requires high levels of arcane technical skills and knowledge, but them’s the breaks.

Not a great help to me right now but I’ll take what I can get. Ask me again if it stays this low all summer and I may be more enthusiastic.

Doesn’t make a difference to me either way.

Oil and Gas industry worker.
It is affecting me a bit, another year or so of low prices and things could get ugly fast. In some cases it is helping, machine shop pricing for high end machining and exotic steels prices have plummeted and less at risk of losing staff.
I know lot of people who have been affected in various ways
The older crew who have mostly taken retirement packages and can generally afford to sit out for 12-18 months, consulting opportunities will pick up when activity does.
The younger crew have been fired, there is a mix of people going back to school because they saved and knew this was a possible outcome, and some less forward looking people are returning poor purchasing decisions.
Another group have spent the last year drawing up lists of people, firing them, then going back and doing the same thing. Again, and again. I am sure there is not a whole lot of sympathy for management, and management in the oil and gas sector in particular, and it is no different to when the economy tanked in 08. Still it’s not fun firing good people, then getting fired yourself or just waiting with the ‘no end in sight’ and doing all again, it is starting to take its toll on people.
Final group I know are having a ball, they are in M&A and buying up companies for cheap.

So much helping! Not only am I directly saving money at the gas pump, but I’m making more money, because I’m taking more clients who live further away, because I don’t have to worry about whether I’ll have enough cash to fill the gas tank between paydays.

I’m kind of another oil and gas guy. I haven’t had a paying job in 13 months while I had enough savings to make it 6 months its been fairly ugly the last 7 months.

Of course I also started a distillery 24 months ago so my job hunting has been severely limited. I will hopefully started getting paid this month a we can start digging out of the hole.

Sdmb craft vodka for sale? Happy to buy a bottle or ten.

I filled up my tank yesterday for $19.80. I paid 1.69/gallon. A first in over 17 years.
It helps.

The short-term damage to my investments far outweighs the meager pocket money I spend on gasoline (I don’t drive much.) But I can’t say how it matters in the long run.

We live in the country, where a trip to the grocery store is a 20 minute drive. My gf drives close to three hours every day to work and back.

I’m loving it.

It’s yes and no. For me personally, yes. I loves me some buck fifty gas when I pull up to the pump. For me business-wise, not so much. I live in Houston and the economy is starting to slow down and I’m not seeing as many new students as I would like to see.

I just realized the surcharges shipping companies were forced to tack on to their deliveries have not been rescinded. WTF?

Ten or fifteen years ago, a Canadian economist pointed out that the Canadian dollar tracks the price of oil pretty closely. I have followed it and it is pretty much true. I had been seriously considering moving to the US, to be close to at least one of my children but, for the time being, my pension would have a 30% bite taken out of it and that makes the move much less attractive. This overwhelms any trivial saving I have in buying gas. I buy less than one tankful a month.