The oil and gas industry is showing signs of life, although life as the industry knows it appears to be the beginning of dramatic change. Efficiency, prudence, and caution are the watchwords as the longest drilling slowdown in U.S. history is finally turning around.
To increase optimism even further, the Obama administration gave unconditional approval for Arctic drilling. To add more drama to the industries recovery, Noble Energy is buying Rosetta Resources for a cool $2 billion, a follow-up to the recent Shell acquisition of the B&G Group for $70 billion. Is a sell-off in its infancy? Pundits are hesitant to say. Apparently, it’s too soon to tell.
While all this activity is causing heads to turn and paper to move, employment in the oil and gas industry in America has reached its lowest level in more than a year. Although employment is down, that too could take a turn for the better as oil finally broke the $60 per barrel benchmark.
Stay up to date on chemical industry news and see what the experts have to say about the re-emerging oil and gas industry in America.
Quote of the Day:
Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.