Economy 52,837 Posted June 9, 2016 Share Posted June 9, 2016 http://oilprice.com/Energy/Energy-General/After-350000-Layoffs-Oil-Companies-Now-Face-Worker-Shortages.html US Oil companies are looking to add more rigs and wells to frack as prices at $50 a barrel are now high enough to make Shale peofitable again The issue? The Industries capacity has shrunk because it was dismanteled. Companies fired large amounts of workers to cut costs and survive. Now companies dont have enough workers to expand ad much as they would like Additionally service conpanies that did drilling or sold equipment for oil companies exist in fewer numbers as many went bankrupt leading to a shortage of equipment and drilling capacity This will result in higher production costs as the industry fights to grow again Link to post Share on other sites More sharing options...
venusfly 17,885 Posted June 9, 2016 Share Posted June 9, 2016 Link to post Share on other sites More sharing options...
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