Hiring will begin when mega-investors start backing E&P companies, and that won't happen for a long time. $80 oil for a few months is only a worm dangling on a hook for major investors, who know from experience that can be jerked out of the water in a week.
It too six years for the business to return to normal after the 1986 crash.
As soon as the last middleaged middlemanager gets his pile of gold.
Until then, tread water!
Maybe their experience with Venezuela has something to do with that.
Never in Bartlesville!
The challenge is to define normal for the oil and gas industry. OPEC reductions in production and the expectations in price increases may be for naught with efforts associated with oil sands production. Canada reserves are estimated to be 175 billion Barrels. And ConocoPhillips is terrified to venture out of the security of the borders of 1st world countries to increase reserves.