Companies across sectors, including technology, retail, and banking and payments, continued to announce layoffs, and a sizable decline in active jobs (number of jobs available for application) is also apparent in August 2022, reveals GlobalData, a data and analytics company. An analysis of GlobalData’s Jobs Analytics database has identified a seven index-points decrease in active jobs in August 2022 due to […]
Is WTI Crude Recession Proof?
By Ryan Dusek How quickly things have changed. Just a year ago, the Federal Open Market Committee (FOMC) gave a picturesque view of the economy. Any inflation was transitory and would likely fall to 2 percent in 2022. The federal funds rate would remain lower longer with little chance of a recession. At that same time, […]
Hempstead Facility Adds Capabilities
Logan Industries, a hydraulic repair, manufacturing, and rental company, has expanded its machining capabilities at its Hempstead, Texas, facility, adding a CNC horizontal boring mill and a CNC vertical turning center. The state-of-the-art facility, which encompasses more than 50,000 square feet of covered workspace, enables Logan to offer world-class machine design, manufacturing, and service. Both machines […]
The Not-So-Great Resignation
by Dr. M. Ray Perryman Among the most widely discussed economic phenomena in our post-pandemic world is the so-called “Great Resignation,” a phrase used to describe what seems on the surface to be unusually high numbers of people leaving their jobs after the arrival of COVID-19. It goes without saying that the toll the pandemic […]
Geoprediction Software Gets Update
Ikon Science, a global provider of knowledge management solutions designed to optimize subsurface discovery, announced Sept. 26 the release of RokDoc Version 2022.4., an industry-leading geoprediction software. As global energy demand continues to grow and drilling activities increase to meet this challenge, subsurface teams in E&P companies are challenged to deliver key reservoir insights faster […]
O&G Global Contracts Declined in Q2 2022
The overall number of contracts in the oil and gas industry fell by 16 percent in the second quarter of 2022, according to GlobalData. However, the data and analytics company notes that contract value stayed level. GlobalData’s latest report, ‘Oil and Gas Industry Contracts Analytics by Sector (Upstream, Midstream and Downstream), Region, Planned and Awarded Contracts […]
Inflation Reduction Act: Complications for O&G
The Inflation Reduction Act passed by Congress was signed into law by President Joe Biden Aug. 16. The IRA is being pitched as a major legislative victory for the President heading into the interim elections, even though the legislation was passed out of both chambers of Congress on straight party lines, and even though it is […]
Whence Workers?
By Dr. M. Ray Perryman Recent data indicates that the Texas economy continues to generate jobs at a torrid pace. In June, the state added 82,000 positions, pushing the year-over-year gain to 778,700. The 6.2% growth rate is second only to Nevada, which Texas dwarfs in size by a factor of more than nine. […]
Oil Show Donates $282K to Local Colleges
Permian Basin-area colleges and universities will be able to provide scholarships for more students thanks to a donation from the Permian Basin International Oil Show (PBIOS). In August, board president Larry Richards and immediate past president Tommy Pipes presented checks totaling $282,000 to five academic institutions, including The University of Texas Permian Basin, Odessa College, […]
Why Culture Eats Change Management for Breakfast
by Donald Barnhart The oft-quoted phrase “culture eats strategy for breakfast” has been attributed to Peter Drucker (see “Does culture really eat strategy for breakfast?”). Even if Drucker didn’t say it, the idea that culture drastically affects the success of strategy has been around for a long time. In 1985, Edgar Schein wrote in his […]
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