I remember back in 1985-86 many of the houses around here went to rent houses. Development virtually stopped. I was kind of glad because it kept the trees from falling and traffic was at a minimum on FM 1960. People were losing money trying to sell their homes and many went into foreclosure. I really hate to see that again. Houston is supposed to be more diversified. On another note, isn't it strange that when oil was over $100 a barrel, food prices went way up because of "transportation costs", but the food prices now, are not dropping.

@brightlights, we are an o&g family that could use some prayers and positive vibes coming our way...My husband was laid off back in early December. Luckily he got a small severance, but it was a shock nonetheless.In positive news, he had a great interview with a new company today...so fingers crossed on that one!If he gets an offer, he will be leaving o&g after 20 years...

@AlettertoElise Good luck to ya....

@AlettertoElise :We are, too (one of the biggest). Been there, done that over the last year, but gratefully, bounced back quickly. I am praying as I type for the same for you! It's unsettling to say the least. Hang in there and don't get stressed!

Great. As if I didn't already have a hard enough time finding suitable employment. I'll have a degree in a few months, which just means I'll have $25,000 to pay off and no job to pay for it. Sorry to all those who have lost their jobs.

@asxshadowsxfade

This only means more lay offs, but the unemployment rate remains at an all time low. How can that be? Someone is fudging the numbers I bet.

My job is affected by O&G. Hours were cut a few months ago across the board. We've lived without my income for several years before and could cut the fat and do it again if we had to.The family vacation is still happening.

We left the o&g industry, nerves too bad. Other areas are begging for people.

@757beach Care to elaborate which areas are begging for people?

@Smokeybear :I think you will as savings in distribution expenses should work their way into pricing of goods and commodities soon...

My company is energy but not direct O&G. When prices are down, certain parts of our business thrive and when prices are up, other parts of our business thrive so it's mostly survivable. We did have a recent layoff though but it was related to some new lines of business that lost money (green stuff). Our family business never really recovered from the 2008 economic downturn but now hubby is in the medical field and the work is endless.

@AMCLady :That's because our food industry is controlled by a "handful" of Corporations/Companies now...So it will take much more time to fall...The raising of prices/profits is much easier for them than lowering because the lack of competition doesn't force their hands sooner...May as well scrape as much as you can while you can....

I just can't help but wonder if anyone affected here can relate to those in the Northern US, who worked among a once thriving Industrial Economy that pretty much built this country only to have their factories closed and jobs shipped overseas, mostly out of their control...The reason I ask is because I've seen several comments posted here over the past year and a half or so dogging places like Detroit for it's deterioration...

Good grief.......uh yeah, the global oil markets are just like the local self inflicted political screw ups in Detroit. And auto manufacturing didn't migrate overseas.....Parts manufacturing did......not assembly. Toyota and Nissan now build autos here for distribution in America. Chevys and Fords aren't assembled in China and Japan. Capital goes where it feels most welcome......Detroit fell victim to its own suburbs......On another matter, futures prices show a gallon of milk is double the price of a gallon of crude oil. Why is that?