In the last several months, I have visited several states in the northeastern part of the United States and have found the economy seemingly down everywhere, yet I observed many freight trucks traveling in all directions.
There are 20-plus drillers who have been forced to find other work in one state
alone. Many of them had purchased new equipment, and the work has dwindled to
the point where they were unable to keep up their payments. This is sad,
however, it only will help those who survive.
As a means to survive, contractors have added geothermal loop drilling to their
drilling options, and some even are excelling. Toward this end, a drill
manufacturer I visited while in Michigan is busy refurbishing several
late-model drills for geothermal drilling.
I came upon one drilling contractor’s location, and found his drill, support
truck and portable welder sitting beside his home. It was obvious the equipment
hadn’t been used for a long time. The welder electrodes were attached to the
drill like he was welding on something. It was as if he just had gone to lunch
and never returned. The outside of his home looked as if it had not been lived
in for some time. There was a legal notice on the door, which I didn’t read.
The porch light was on in the late afternoon. No one answered the door. The
neighbors knew nothing. I called the phone number listed on the door of the
drill and received no answer or recording. It looked like the driller just
disappeared. It stated on the door of the equipment that this was a
third-generation company. That’s really sad.
I see contractors with unused or old equipment just sitting and rusting away.
This equipment still has some value. I urge them to consider putting it up for
sale in their favorite trade magazine. This is a great time to pick up a few
dollars. Much of this unused equipment is not necessarily junk, and is useful
to someone. If you don’t need the money that would come from selling it, donate
the equipment to a nonprofit organization that could use it in developing
countries. It’s a tax write-off. If you don’t know of a good nonprofit
organization, contact me.
On another point, personally, I have a problem with American businesses hiring
illegal aliens. I was taught that illegal was defined as against the law. Doing
anything against the law meant that the offender was put in jail or given a
fine – not so today. Many illegal aliens have several people or families living
in sub-standard homes. Most live on or near nothing. On Fridays, however, they
are lined up in our post offices, buying money orders and sending their monies
home to their families in other countries. I admire them for trying to support
their families in other countries, but that is where a lot of our money is
going. I’m no financial wizard, but it doesn’t take a wizard to see that’s
what’s wrong with our economy.
It’s highly probable that our new president and his advisors will bring our
economy back soon. However, I don’t see business and employment picking up a
lot unless manufacturers stop outsourcing our manufactured products and
importing inferior products. The only way we can have employment in America is
to manufacture quality products in the United States, made by
At the beginning of this article, I said I saw freight trucks traveling in all
directions. This indicates that products are being bought, sold and shipped;
that has to be good for the economy. We must continue to think positive and
work smarter, not harder.
Porky's Hole Thoughts: The Economy - As I See It
July 1, 2009