The price of oil is not budging above $60 for the foreseeable future. Apparently, petroleum engineers and geologists are not trained in economics or business in general. Massive layoffs and early retirements are a must.
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I know of several sr projects that have been cut out of next year's budget completely.
on the "is this fair" comment. SR/TD money is not a birthright. In most, not all, cases people who do those projects are the ones who came up with them and people they select to help them. You want SR/TD funding? Have an idea, propose it, fight for it, get it funded. Also, SR/TD isn't what you want to count on now. That budget for 2016 is reduced by 20% or so from this year. I personally know of one person who was told his project is dead as of year end due to budget cuts. I imagine there are many more in the same boat. When budgets are cut like this, there are no safe harbors. Just hang on and hope for the best. Who/what is cut and who/what is kept will probably surprise you. And didn't your momma ever tell you "who said life is fair?"
80s as in $80/share but I suppose it works either way..
so quite before big phase 3 of project alpha is coming at the end of July. but I see people moving around, leaders are more closely talking to some high pay grade guys... likely giving them some internal research fund that most little and poor engineers earned via hard TS (technical service) work. is this fair?
Headed for the 80's? Son, this is much worse. It ain't ever gonna come back this time.