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a more compelling graph would have been jobs/rig. The drop in jobs sure looks like it approximately matches rig demand with a 3-6 month lag. I am sure robots w
by chrisbrandow 10y ago
a more compelling graph would have been jobs/rig. The drop in jobs sure looks like it approximately matches rig demand with a 3-6 month lag.
I am sure robots will replace a lot of these jobs, but I don't see this article providing much evidence that it is happening substantially.
- cestith 10y agoThere's no real demand for new rigs right now. In the downturn, though, the rig and rig equipment companies are making more labor-efficient rigs and equipment. So when new rigs come online, they won't raise labor demand the way new rigs used to.
- cyrks 10y agoBecause of the direct correlation with # of rigs, the job loss will be linear with the loss of # rigs. However, the current situation is that each rig that is still working is getting more efficient and productive on a daily basis. So much so now, that there are fewer rigs coming online to produce the same amount of oil that we had before the drop in oil prices. This is where the job loss will be. Some of it is due to automation, but most of it is due to the efficiency gains in the drilling and completion process itself. http://www.otterwoodcapital.com/static/media/uploads/2016/03/oil_production.png http://www.otterwoodcapital.com/static/media/uploads/2016/03...