Slowly getting this blog to look the way I want it. It takes some time but I have time now that things have slowed down in Oil Country. Big Oil has been cutting back on expansion projects and we've seen a complete shift in who's in control.
The owners were at the mercy of the conractors and knew they were getting taken advantage of. But with the high price of oil they were willing to pay the price to get their project into production. I think Big Oil brought the problems upon themselves by not organizing their project to fit the available labour market. The first one's out of the gate were able to secure the resources they needed but as each subsequent project came on line it taxed the available resources, causing the prices to escalate. Simple supply and demand economics right?
So now most of the owners have pulled back. Projects are cancelled or put back a year but then we'll go through this cycle again. I think it will be worse than the last one but what do I know. My crystal ball is still a bit cloudy.
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