"The industry never quite learns its lesson"...
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Where else can those without an education made the money paid in the oilfields? Time and time again...same ole procedures in a down turn. Get rid of folks at retire age, layoff as many as possible, cut wages then cut hours and finally..more layoffs. It's not over yet. Reminds me of the '80's and I think this one is going to be just as bad. 2009 and 2012 were nothing compared to the one in the '80's..UNLESS something happens to bring gas prices back up to 4.00 a gallon. This little bump in gas prices isn't going to do a thing for the industry. 2.19 cents a gallon of gas is not a help.
So true peeps, we never learn
Just a few months ago, select workers were given retention incentives to get them to stick around. Now, they find themselves victims of the layoffs. Go figure...
And the lie about the shortage of oilfield workers remain. It goes away after every burst and nobody mentions about the shortage, but after the industry picks back up on the boom cycle there're myriad of articles and papers touting the manpower shortage and the great crew change.
Actually, the funny thing is, once the industry picks up and looks attractive again, there will be another influx of willing bodies. I saw this in 2008-2009, 2010-2012 and will happen again. The industry pays a lot and it seems, everybody has a price. Sad, isn't it?😢