We keep hearing reports that the economy is in bad straights. Layoffs, closings, off-shore operations, rising prices… you name it, the USA is getting hit with it.
However, there is one industry that’s practically begging for workers – the oil & gas drilling industry, especially right here in Texas.
It seems a perfect storm of recent events are triggering a huge rise in manpower demand:
- Fracking: Hydraulic Fracturing along with horizontal drilling have opened up a new exploration and extraction frenzy. Oil & gas fields that were no longer productive or too expensive to exploit can now produce enormous amounts of resources. Where’s there profit, you’re going to see the oil companies rush to take advantage of it.
- Aging Workforce: More and more oil and gas workers are reaching retirement age. As they leave, new bodies have to be found to replace them.
- Demand: Even though the overall economy has slowed down, demand for energy hasn’t followed suit. In fact, if anything it has increased.
- Prices: The costs for fuel oil, gasoline, natural gas and other petrochemicals have only gone up. While this certainly isn’t sweet music for the consumer, it’s a symphony for the oil & gas giants.
The lure for workers is understandable – steady work, high pay and benefits such as health care. Who wouldn’t be interested?
However, it isn’t all roses and sunshine – not by a long shot.