Re: A 35 hour Workweek would create Millions of Jobs
Posted: Fri 20 Oct 2017, 12:27:40
Ibon - I've had similar experiences throughout my 41 year career. In my case it was CUTTING NUMBERS. Either proved recoverable reserves or reducing the probability of success of a drilling prospect. I've had more then one project taken away and given to a more "optimistic" geologist. In fact once I had a consulting contract cancelled by a drilling fund because I didn't recommend a single prospect of the dozens I analyzed over a 3 month period. I told them I could recommend prospects if they lowered the probability of success they required. They said no and I was replaced. A year and a half later after losing $60 million they closed down. The company was run by a former oil trader who thought buying and selling oil qualified him to drill for it. He was wrong. LOL.
And believe or not in hundreds of projects not once has my estimates been proven to be too pessimistic. But a % did prove to be a tad too optimistic: can't completely eliminate risk in the oil patch and still makd a profit. And the reason I was hired for my current position with a private company owned by a $billionaire is because of that reputation. Which is how you become a $billionaire: my owner is purely success oriented since we're risking his family's money. Drill good wells and we're nicely rewarded. Fail and he wouldn't hesitate one minute to run any of us off. We've all been here 8 years now.
And in my 4 decades this is the longest I've held any position.
And believe or not in hundreds of projects not once has my estimates been proven to be too pessimistic. But a % did prove to be a tad too optimistic: can't completely eliminate risk in the oil patch and still makd a profit. And the reason I was hired for my current position with a private company owned by a $billionaire is because of that reputation. Which is how you become a $billionaire: my owner is purely success oriented since we're risking his family's money. Drill good wells and we're nicely rewarded. Fail and he wouldn't hesitate one minute to run any of us off. We've all been here 8 years now.
And in my 4 decades this is the longest I've held any position.