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To: Eric in the Ozarks
"Good news."

Not necessarily. The petroleum industry is very prone to "boom/bust" cycles, including those induced by fedgov eco-interference. If these kids can land that high-paying job....great.....but they need to live as though they can lose it tomorrow (get and stay debt free, build up a six-month cash reserve....etc).

6 posted on 08/06/2012 5:02:02 AM PDT by Wonder Warthog
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To: Wonder Warthog

Good advice for anyone in any industry.
My regret is my first eight post college working years were outside the energy biz.


13 posted on 08/06/2012 6:05:46 AM PDT by Eric in the Ozarks (I didn't post this. Someone else did.)
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To: Wonder Warthog
The petroleum industry is very prone to "boom/bust" cycles

Good point. I say, become an accountant in the petroleum industry.

16 posted on 08/06/2012 6:34:28 AM PDT by Lady Lucky
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To: Wonder Warthog

I’d expand your point to all extractive/commodity industries. The same sort of boom/bust cycle exists in everything from oil, to precious metals mining, base metals mining, steel/iron/coal/coke, grains/crops, cattle, etc.

The important point is that these “boom or bust” cycles keep these industries from expanding to the point of debt bubble collapse, such as we now see in the housing/real estate industries, banking/finance, etc.


19 posted on 08/06/2012 7:14:11 AM PDT by NVDave
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