The slump in global crude oil prices has adversely impacted the industry and the U.S. economy. While several leading oil and gas companies have adopted cost-cutting measures, a majority of them have laid off employees over the past year. The economic growth in the U.S has seen a decline in the second quarter this year.
According to a recent survey by Rigzone, a majority of hiring managers in the oil and gas industry have decreased their hiring plans in the past few months. Some hiring managers have frozen their recruitment plans completely to maintain shareholder value and maintain profits. The global crash in crude oil prices has dealt a severe
The recent move of the U.S. administration to hike the cap on oil spill liabilities has been criticized by many oil and gas operators. However, given the serious implications of oil spills and its harmful effect on the environment, this hike is justified. Congress previously introduced the cap on oil spills in 1990. The increase
