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Thread: Oil Workers in U.S. on First Large-Scale Strike Since 1980

  1. #41
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    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    Quote Originally Posted by buck View Post
    Do some research about hte oil companies curtailing their future investments due to the low prices.. Then you will know and not have to ask.
    Wait a minute here,
    Their margins will be decreasing a lot.. which will not leave much money left for increased spending
    Increased spending in what?
    Must be something other than the cost of labor.

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    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    Quote Originally Posted by AJiveMan View Post
    But oil company profits are still high, which is why people ask for raises, they have needs too.
    Yet unions sign contracts. they got the raises per their last contract.
    their contracts define how big of a raise they give over the course of the contract.

    so if the company makes 100b in profit and the workers get a 3% increase that is due to the contract that they agreed on.

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    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    Quote Originally Posted by AJiveMan View Post
    Wait a minute here,


    Increased spending in what?
    Must be something other than the cost of labor.
    yes because oil companies spend hundreds of million dollars a year in exploration. well tests engineering plans and other regulations
    that they have to follow.

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    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    Quote Originally Posted by AJiveMan View Post
    Wait a minute here,


    Increased spending in what?
    Must be something other than the cost of labor.
    They are reducing their invesment and future spending... They are being asked to increase their labor costs. Not sure why you find that confusing...

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    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    BP reports quarterly loss of $4.4 bln amid oil price drop

    BP sounded a somber note on the oil industry Tuesday, saying producers may have to adjust to an extended period of lower prices, as the company reported a fourth-quarter loss of $4.4 billion and announced spending cuts
    BP plans to cut costs by as much as $6 billion this year, reducing exploration expenditures and postponing some projects, including development of the Mad Dog field in the Gulf of Mexico.

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    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    Quote Originally Posted by AJiveMan View Post
    Exxon took around a $2B loss. so what?

    Decreased demand is highly attributive for this.

    People are driving less, and have more fuel efficient vehicles.

    If top level managers and CEO's of oil companies couldn't see this coming down the pike, they're really stupid.

    Looks like Kinder Morgan might have bitten off more than they can chew at this point in time

    5 Facts All Kinder Morgan Investors Need to Know That Will Affect Its Dividend (KMI)
    Again, you look at a straight profit number and ask so what. Fine, I suggest you look up what a profit margin is and then find out what it is for the oil companies year on year. I doubt you will because again, you don't care, it doesn't fit your narrative. Unfortunately, you are also posting links without reading their contents. There is more to understand than just a headline which you assume is a negative affect on their dividend.

    I'm done with you.

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    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    Quote Originally Posted by AliHajiSheik View Post
    Again, you look at a straight profit number and ask so what. Fine, I suggest you look up what a profit margin is and then find out what it is for the oil companies year on year. I doubt you will because again, you don't care, it doesn't fit your narrative. Unfortunately, you are also posting links without reading their contents. There is more to understand than just a headline which you assume is a negative affect on their dividend.

    I'm done with you.
    I am so happy, I'm

  8. #48

    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    I think the oil companies will eventually work out a deal with the unions , the unions have a weak hand . Foolishly over played it. A smart oil company can lock in a great deal for their future with this union just give em 3 or 4 weeks...

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    Re: Oil Workers in U.S. on First Large-Scale Strike Since 1980

    Quote Originally Posted by shortstackone View Post
    I think the oil companies will eventually work out a deal with the unions , the unions have a weak hand . Foolishly over played it. A smart oil company can lock in a great deal for their future with this union just give em 3 or 4 weeks...
    I agree. Company has the upper hand this go around.. I believe, they only agree to 3 year contracts and one company (The union picked Shell to negotiate against) is negotiating on behalf of all of the companies - which seems very odd to me.

    http://news.yahoo.com/strike-u-refin...FUtpAAPoJXNyoA

    Executives have made clear they will try to hold firm, saying they cannot afford to lift wages because crude prices have sunk 50 percent since June, eroding their profits.

    Other executives have suggested Shell, acting as the lead negotiator for oil companies, gave away too much in negotiations held in years past.

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