Boxbeach - I guess I form that opinion based on my interactions with unionised and non-unionised people in a variety of industries.


I don't think the oil industry is going to have a significant downturn in the forseeable future:
- large oil fields are gone; the smaller oil fields don't take that much less engineering and project management effort to develop so there are similar staffing requirements even with oil running out
- the fact that new oil developments are smaller means that there are more of them = more jobs in oil industry
- oil is unlikely to go down significantly in value like it has done in the past as there is general recognition that it is becoming scarce and recognition that it contributes to climate change.... there would be a social disincentive allowing to cheap oil or some form of carbon tax to keep the price high.
That said, there are always cycles even if the next trough may not be as bad as the past.
Tele advice:
- save loads of cash now while times are good
- buy a large, powerful gas guzzling car now before they are carbon taxed out of existance

#71 - "the industry" won't have a downturn Tele, but employment will.
Everyone's working at capacity, all rigs are working, and Exxon have already announced a cut back on drilling activity in order to take profits and try to stabilise costs.
We've been through this before (and the price hike in 73 was much steeper than this one) , and the cycle will assert itself. Profits don't always equal employment boom.
Your advice on large gas guzzlers is not particularly good either unless you plan to run it into the ground or keep it as a restoration project - already their resale value is dropping much faster than fuel-efficient models

In post #62 I wasrefering more to the Iron ore , Nickel and Gold industry which drive the resource sector in WA and is what Bazza is employed in. Yes I agree I cant see a downturn in oil and gas for some time with all the conflict in the middle east.

Baz should stay on the mines for a 6 months or so and buy a V8 with 4 exhaust pipes. I'd aim for 400g CO2/km.