TSXV:WEE.H - Post by User
Post by
AboveBoardon May 01, 2022 2:34pm
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Post# 34646120
Article supports WEE statements
Article supports WEE statements From a Forbe's article,
It is certainly a fair question to ask why oil companies aren’t increasing drilling at a faster pace. There are several reasons for that. One is that the industry is suffering from manpower and material shortages.
For example, when oil demand fell in 2020, many people permanently left the oil industry, frustrated by years of up and down cycles. The oil industry continues to suffer from a manpower shortage that is affecting many industries.
This manpower shortage also impacts oilfield services and supplies. Sand used for hydraulic fracturing, for example, is in short supply. That won’t necessarily limit drilling, but it will limit how quickly an oil well can start producing oil.