If your talking about the Arab embargo in 1973-1974 I certainly do, I was a junior/senior those two years.

most forget what happened last year

Tax money paycheck. Public supplied. The Boy ain't worried and the reason he comes across "it ain't gonna hurt me".

Here is a start on Oil & Gas.

https://www.croftsystems.net/oil-gas-blog/like-it-or-not-you-are-dependent-on-the-oil-gas-industry

A few well known aspects:

Trucking

Automobiles Dealers/Makers/Servicers

Airlines

Railroads

Power Generation (natural gas)

Shipping (ship’s oil version of diesel)

Farming (plowing, harvesting, weed control, pest control, fertilizers, transport for storage and to food processing plants.) Farms buy fuel at minimum of 500 gallons at a delivery for small farms.

Bus Lines and City Busses, Cabs, Ubers, Lyfts,

Mining & Quarrying, half of the employees these days are truck drivers

Heavy Construction and Sitework/Excavating

Air Cargo and Van-based delivery (Postal Service, UPS, Federal Express, DHS, etc.)

Furniture Industry

Appliance Industry

and many more since every industry depends on inputs, outputs, workforce commuting, customers arriving all by internal combustion engines using oil-derivatives. Non-physical industries like business services, information, banking, investing etc. often mistake themselves as no longer being reliant on oil despite using cars and planes to move themselves around the planet.

This too shall pass, the wise person in the oil business knew that a bust was coming and tried to prepare for it. Those that work in the field offurnishing goods and services for the oil and gas industry, the same the old timers knew this was coming, and most I know prepared for it.

The FNG's in the oli field, they bought new trucks as soon as the new smell was gone, they spent their money and the bankers money on boats, guns, took vacations, and increased their debt loads. The bankers will repo a lot of toys, but the bankers made money. That new company that over extended their line of credit to buy the latest and fanciest gadgets, the auction house will thank them by selling it for them.

It is a vicious circle in a cutthroat business, the strong will survive, some of the the weak, will fold. But the next round will bring a new round of FNG's and they will repeat the circle again.

The manufacturers, they will still produce for the people out side of the oil and gas industry, the farmers will still produce as before, the trucks will still have goods to haul as will the railroads.

The cities, the counties and the states will raise taxes on property, goods and services. The taxpayers that are left will take up the slack, Places like Midland, Odessa and such, will tighten the belt as hundreds or thousands f people move on the the next gold rush or go home with their tail tucked between their legs. The smart money managers, will be buying houses and business property and making do until the next oil rush, where they will sell again at overinflated prices. .

I saw the first race to the oil fields in 1970's, it has happened before and will happen again.

The welfare line starts on the left, there will be a lot of I will never take welfare people in that line. The food bank line is on the left, restocked by donations from those that didn't spend themselves into debt., the retirees and those not connected to the oil field.

WTI = west texas intermediate, no? I'm purty stupid too

Yes

I was asking legitimate questions to try to see from the other side of the aisle. I got nothing but asinine answers. Same asinine answers I get every time I ask about this subject. It’s not my fault some of you chose to get into a career that is a constant roller-coaster ride filled with ill prepared individuals blind to the inevitable. Y’all have fun convincing the world that your well-being is more important than the rest.

The worst part about this is OPEC still has this kind of control.

Many banks will get hit hard. Capital One nearly crashed recently, with only 1.4% of their loan book having exposure to oil. The CFTC was going to relax some financial safety standards to keep the bank from crashing. If Capital One only had a 1.4% exposure then surely there are other banks that we will be reading about soon.

I can't make the link work. You will have to copy and past if you want to read it.

https://www.reuters.com/article/us-health-coronavirus-capitalone-cftc-ex/exclusive-capital-one-got-cftc-waiver-after-oil-price-plunge-increased-swap-exposure-sources-idUSKBN21D1BC?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

Just got a call from the Basin Grapevine, looks like everybody is fixing to fill the tanks and shut them down, I just cancelled a 1,850 barrel sale. We'll work on selling gas until this is over, won't take long to bring down the surplus. I've got several 500 barrel test tanks I can store in.

I feel for the people that support their family from working in the gas and oil industry and the fact that it’s so noticeable here in a big gas/oil state. At the same time years ago when gas was nearly $4 a gallon at the pump, it was affecting a lot of us but that’s the nature of the beast. Same can be said for the dairy industry right now. Expensive equipment and investment’s and now they can’t get rid of it so they are dumping it and a lot of them are going out of business. List can go on with the medical industry as well, if you’re in the industry you are doing great. If you’re not and having to go see the doctors or get meds all the time, it hurts the pocket. Can’t make everyone happy, so just keep on going! Only way for everyone to win is to set prices across the board were its a win for everyone, but that won’t happen so

That's the way it used to be.

Well sorry.

We're (in Texas) all tied to oil. Even the hippies in Austin. If you don't believe so, you're hopelessly out of touch.

Rock on amigo.

Trust me, the goverment will be coming up with a bailout, aka welfare program just like they did for the airlines etc..

I just don't see that happening with the current House. They'd lose the Global Warming left, and those loons are supporting the current party. I sincerely hope I'm wrong.

Well articulated.

Glens , what's your point?

So you dislike police, fire and military. All the people that put their lives on the line for you and get paid peanuts to do it. Got it.

I hope its just the stress that's causing so many "harsh" posts. I could repeat this post on a dozen threads right now, and especially the Oil ones.
I hope some will read my sig line.

On the bright side, almost every consumer just got the equivalent of a small pay raise that they can stimulate the economy with.

Im not certain about airline traffic but I feel that many folks are busting to get outa the house and go places. Yes the demand may stay low but its gonna crank up some. Got to try to be positive. Not so easy, I know, if directly in the biz.