I feel like some of the small companies like Pioneer and Hess were keeping the big companies from going 100% evil. The more of them that fall the more I fear DW and the other executives will have a hold my beer and watch what I do to the HC10 employees moment.
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Yes, it’s called an oligopoly and has been occurring in every industry. The impact of this is well known, documented, and litigated. Unfortunately, no politician or federal institute gives a single F about O&G beyond taking their money. HC10 is sc--wed and we did it to ourselves. But hey, at least a few more generations will be able to afford the lease on an F150 before we go the way of the 3rd world due to mass layoffs and offshoring in the industry. Next time you see execs whining about there not being enough “talent” in the market show them what they did in 2020 timeframe. What they mean to say is not enough people want to work McDonalds wages for an engineering job.
When the small Oil and Gas companies start to disappear, Odessa and Midland will be ghost towns. It will not be enough work for everybody like before.