Quote:
Originally Posted by WSSix
I went through the oil industry from 10-14 mainly in the Granite Wash which is Texas panhandle and western Oklahoma. There are a lot of people hurting right now. Those parts of the country don't have a lot to offer by way of careers. People did whatever they could to make ends meet and take advantage of the boom. A lot of people moved to the area to work. Unemployment in the area was very low. Plenty of money was made by all involved but it's not a life time career in my opinion. Then again, I got out for a reason.
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Totally agree with this Trey.... it's like investing in the "home builders" -- that entire industry lives in a boom/bust cycle. This is why I've chosen to invest in the transport/storage/supply pipes etc (such as KMI and ETP) -- but that certainly has only been a "proxy" for what's gone on in the oil patch. I didn't expect it to get hit so hard and be so linked (as no matter the price of the oil/gas - you still need to move it somewhere...).