Article

2025-09-05 Economy

US oil titan fires a quarter of its staff as jobs bloodbath spreads from retail and technology

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Skidmark 2025-09-05 04:57|| E-Mail|| Front Page|| [1765 views ] Top

1 End the subsidies of illegals and apply the monies to reeducation and skill training programs for Americans.

Posted by Procopius2k 2025-09-05 07:08|| 2025-09-05 07:08|| Front Page Top

2 If you consider the number of working illegals that have self-deported and been replaced by either legal immigrants or Americans, the jobs numbers are sort of good. The economy is not performing as well as I expected.

Posted by Super Hose 2025-09-05 07:32|| 2025-09-05 07:32|| Front Page Top

3 /\ The economy is not performing as well as I expected. Posted by Super Hose

Didn't go into the ditch overnight. Likely won't get back on track overnight either. Blinding flash of the obvious.

Posted by Besoeker 2025-09-05 09:37|| 2025-09-05 09:37|| Front Page Top

4 Real estate has been in recession since the fed began raising rates in 2022. Tough for oil companies to make money at the current price of oil. Long rates are rising globally as QT continues but government deficits continue to grow. Lastly, is the year that states and municipalities run out of pandemic cash.

That being said, I find it hard to believe we can go into recession with deficits of 5% og GDP.

Posted by Ed 2025-09-05 10:26|| 2025-09-05 10:26|| Front Page Top

5 Bear in mind, this company is closing their SF area refinery next year due to Cal environment requirements. These numbers likely are coming in that group. Also, that refinery is about 15% of C-P's physical plant, so the entire company is shrinking.

Posted by ed in texas 2025-09-05 10:53|| 2025-09-05 10:53|| Front Page Top

6 /\ Great! Who needs gas? Enjoy your Chinese made rubber Cadillacs.

Posted by Besoeker 2025-09-05 12:00|| 2025-09-05 12:00|| Front Page Top

7 WTI crude is well below $65. Good for the economy except the big oil producers. Good for restraining Iran in the short run. OPEC is probably aiming to keep it below $65 if they can. For one, to keep Iran in check and for another since it also slows new US production which for about a year has been between about 13.2 and 13.5 M bpd.

Posted by Lord Garth 2025-09-05 14:15|| 2025-09-05 14:15|| Front Page Top

23:12 Skidmark
22:49 DarthVader
21:11 Procopius2k
21:04 Procopius2k
19:20 ed in texas
19:02 Knuckles Grundy1702
18:31 Frank G
18:12 BrerRabbit
17:30 Skidmark
17:16 Skidmark
17:16 Lord Garth
17:13 swksvolFF
17:08 Lord Garth
16:51 Knuckles Grundy1702
16:27 Super Hose
16:25 Super Hose
16:11 swksvolFF
15:46 Difar Dave
15:41 Difar Dave
15:39 Melancholic
15:36 trailing wife
15:24 magpie
15:21 trailing wife
15:16 Matt
Merry-Go-Blog