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Thread: Is it true that there's a oil boom in North Dakota right now?

  1. #31

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    Quote Originally Posted by Tpoints View Post
    Well, my question actually is this : does such a boom bring in more jobs than the oil jobs themselves?

    Construction for new houses, food and catering, education, entertainment, transportation, IT infrastructure, city planning...etc.

    Why aren't we hearing about this more as a solution to unemployment? Is it because it's not there or not big enough?

    Surely, if it was so promising, the employers would advertise in highly unemployed areas to recruit people, right?

    Can ND be another Free State project target?
    It's because Obama wants to take credit for it. It is a very good thing for the economy, and it is about to make a lot of people rich, especially Obama.
    "The greater the number of prescriptions, the more people's sense of personal responsibility dwindles." ~Hans Monderman



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  3. #32

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    Quote Originally Posted by Tpoints View Post
    I can see that the oil jobs themselves require skill, connection and experience. But not so much for the "auxillary" ones, laundry, house cleaning, babysitting, car repair, restaurants...etc. I do want to know more details if anybody has some.
    There are a lot of unskilled jobs in the oil industry itself that pay rather well, such as traffic controllers and things like that.
    "The greater the number of prescriptions, the more people's sense of personal responsibility dwindles." ~Hans Monderman

  4. #33

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    Quote Originally Posted by VIDEODROME View Post
    I used to truck drive and heard there was a lot of work out there but the conditions are crazy and most of the roads are horrible.

    I've also heard there is a weird antagonism between the locals and the truckers for some reason.
    Probably because the truck drivers take up a lot of road space, and this often ends up with civilian cars being run off the road. I've seen it a few times delivering newspapers, so I'm not surprised if there's a bit of animosity toward the truck drivers running everyone off the road.
    "The greater the number of prescriptions, the more people's sense of personal responsibility dwindles." ~Hans Monderman

  5. #34
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    One reason they are hesitant to build a lot of infrastructure to support the oil boom is that they have been though it before. The area boomed and collapsed again both in the 1960's and the 1980's. It is a viable operation as long as the price of oil stays above a certain point- if the price of oil falls significantly it could collapse again. Another consideration is that a well in a fracking field is not productive nearly as long as a traditional well- they tap out and another one needs to be drilled sooner than conventional oil drilling.
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  6. #35

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    Quote Originally Posted by PaulConventionWV View Post
    There are a lot of unskilled jobs in the oil industry itself that pay rather well, such as traffic controllers and things like that.
    So, if a person is single, healthy, and unemployed, can I respond with "move to ND or STFU" if they are complaining about money?

  7. #36

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    Quote Originally Posted by Zippyjuan View Post
    One reason they are hesitant to build a lot of infrastructure to support the oil boom is that they have been though it before. The area boomed and collapsed again both in the 1960's and the 1980's. It is a viable operation as long as the price of oil stays above a certain point- if the price of oil falls significantly it could collapse again. Another consideration is that a well in a fracking field is not productive nearly as long as a traditional well- they tap out and another one needs to be drilled sooner than conventional oil drilling.
    they do it faster, but the same amount of oil comes out of the same well, right? Whether you take 10 years to empty a well or 5 years, you'll need infrastructure for at least 5 years, and even if it's wasted for the the future, you make the same amount from the oil because you get the same volume of oil, right?

    Unless they are simply expecting that there isn't enough. How long does a boom last, or how much longer will this one?

  8. #37

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    Quote Originally Posted by Jordan View Post
    Well, my question actually is this : does such a boom bring in more jobs than the oil jobs themselves?

    It's creating jobs in every industry because people who might otherwise work one job go to the oil industry for the money. Even McDonald's workers are getting $15/hr+ because labor is so scarce.

    Why aren't we hearing about this more as a solution to unemployment? Is it because it's not there or not big enough?

    We are. Fracking and mining have been perennial headlines on any business/finance publication. You're just not hearing about it in RPF all that much. There are people flocking to Australia for mining right now, too, many of them making $150K or more per year with nothing more than a high school education. There are plenty of great, high-paying, and sustainable jobs out there if you look past the macro doom and gloom story.

    Surely, if it was so promising, the employers would advertise in highly unemployed areas to recruit people, right?

    It's best for single dudes who can deal with crappy weather, long hours, but want to enjoy obscenely high pay. The persistent news coverage is doing a pretty good job of recruiting new employees from all over the place.
    More info on the Australian mining gig? That sounds interesting.

    ETA: I guess I could have added the little I know about the ND situation. I actually know a guy that went up to ND to make good money as a welder; he said it was a nightmare. There was basically a community set up in a Wal-Mart parking lot for out of town workers, there is no housing and what is available is priced 10x what it's worth...and there are no women! From what he told me (which may be exaggeration,) it wouldn't be worth it to me unless I were to find myself hard up. I can see the appeal to some though.
    Last edited by BamaAla; 11-13-2012 at 12:24 PM. Reason: Expand on ND
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  9. #38
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    Quote Originally Posted by Tpoints View Post
    they do it faster, but the same amount of oil comes out of the same well, right? Whether you take 10 years to empty a well or 5 years, you'll need infrastructure for at least 5 years, and even if it's wasted for the the future, you make the same amount from the oil because you get the same volume of oil, right?

    Unless they are simply expecting that there isn't enough. How long does a boom last, or how much longer will this one?
    Generally the pools of oil are a lot smaller as well- that is why they have to use fracking to be able to get enough oil out of the ground to cover their costs. It is a lot more expensive way to get oil than say drilling in Saudi Arabia (where you simply drill down to a pool and pump it to the surface)- which is why it has gone boom and bust in the past as the price of oil moves up and down. At $100 a barrel you can make money. At $50 a barrrel of oil you can't so you shut down. Actually many of the wells are switching over to natural gas production because the price of oil has declined. But now the price of natural gas is also going down due to high supplies.

    http://www.minotdailynews.com/page/c....html?nav=5583
    The oil boom gravy days of the late 1970s and early 1980s were displaced by depressed oil prices that spurred businesses to shutter. The city was stuck with a pair of abandoned trailer parks that stood as a testament to the people who left town "about twice as fast as they came," Koeser said.

    Morale in the city near the confluence of the Missouri and Yellowstone rivers had sunk lower than the deepest of dry oil well holes.

    "People wanted hope and pride but they were discouraged and devastated by the bust," Koeser said. "People wanted to believe in the community again."

    Koeser, 62, has seen the city's fortunes swing radically in the years since, with a rebound in oil prices and drilling technology that has thrust North Dakota to the nation's No. 2 oil producer behind Texas. Ninety percent of drilling activity in the state is within a 70-mile radius of Williston, which census figures show is the fastest growing city its size in the country.
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  10. #39

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    Quote Originally Posted by Zippyjuan View Post
    Generally the pools of oil are a lot smaller as well- that is why they have to use fracking to be able to get enough oil out of the ground to cover their costs. It is a lot more expensive way to get oil than say drilling in Saudi Arabia (where you simply drill down to a pool and pump it to the surface)- which is why it has gone boom and bust in the past as the price of oil moves up and down. At $100 a barrel you can make money. At $50 a barrrel of oil you can't so you shut down. Actually many of the wells are switching over to natural gas production because the price of oil has declined. But now the price of natural gas is also going down due to high supplies.

    http://www.minotdailynews.com/page/c....html?nav=5583
    for those who know, where is ND oil refined?

  11. #40
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    It is presently being sent to various refinieries across the US. A local Indian tribe just received aproval to build their own refinery in the area though. http://www.businessweek.com/ap/2012-...r-oil-refinery
    NEW TOWN, N.D. (AP) — North Dakota's Three Affiliated Tribes will be getting control of land for construction of a proposed new oil refinery, U.S. Interior Secretary Ken Salazar said Wednesday.

    Salazar's decision, announced during a news conference at the tribe's headquarters in New Town, means the tribe may begin construction of the $400 million refinery next spring, tribal Chairman Tex Hall said.
    If constructed, it would be the first refinery built in the United States in more than 30 years, the interior secretary said.
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  12. #41

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    Quote Originally Posted by Zippyjuan View Post
    It is presently being sent to various refinieries across the US. A local Indian tribe just received aproval to build their own refinery in the area though. http://www.businessweek.com/ap/2012-...r-oil-refinery
    If constructed, it would be the first refinery built in the United States in more than 30 years, the interior secretary said.

    wow, shit just got real.

  13. #42

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    Quote Originally Posted by Tpoints View Post
    So, if a person is single, healthy, and unemployed, can I respond with "move to ND or STFU" if they are complaining about money?
    There are lots of places they could move. So, yeah, there's no excuse for not picking up everything and living in your car for weeks to find a decent-paying job, especially with sub-zero temps.
    "The greater the number of prescriptions, the more people's sense of personal responsibility dwindles." ~Hans Monderman

  14. #43

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    Quote Originally Posted by Zippyjuan View Post
    One reason they are hesitant to build a lot of infrastructure to support the oil boom is that they have been though it before. The area boomed and collapsed again both in the 1960's and the 1980's. It is a viable operation as long as the price of oil stays above a certain point- if the price of oil falls significantly it could collapse again. Another consideration is that a well in a fracking field is not productive nearly as long as a traditional well- they tap out and another one needs to be drilled sooner than conventional oil drilling.
    All of the above - PLUS let's not forget the controversial nature of "fracking" when it comes to environmental impact. I would not be surprised to see an effort made to ban the practice entirely. If anything like that happens, the area is going to give a whole new definition to the term "oil bust."

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