Shades of Stroud, Okla.: Yards full of stacked rigs bring reminders of 1980s

摘要

Once the rig count hits bottom historically, the rig count tops 1,000 rigs again within 12 to 18 months. In an article in the Los Angeles Times, Benny Tee-garden, the owner of Venture Drilling Co. in Cushing, Okla., said he had to cut his employees' salaries and shut down work. Like many other oil men, he believed that "sooner or later the price of oil would go back up and there would be another boom. It is the cyclical nature of the business, and if you are an oil man, you take that for granted and just hope you can pull through the bad times."