As BP cuts 4,000, industry veterans call oil downturn worst they’ve ever seen

oil downturn worst they've ever seen

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By Greg Groogan

For close to four decades Gladney Darroh has been among Houston’s top recruiters of oil industry talent.

These days demand for his upstream prospects is simply dismal.

The extended crash of oil prices has generated lots of laid off job seekers and almost no employers looking to hire them. “How hard is it for us? It’s very hard because many of the people who are coming to see us are people we placed on jobs five, ten even 15 years ago,” said Darroh.

Darroh’s been through downturns before, but calls this one the harshest. “We are certainly seeing what is the worst downturn in the oil and gas industry since I’ve been in business,” said Darroh.

It is a troubling assessment echoed by Bob Tippee, editor of Oil and Gas Journal who says conditions will get even worse before they get better.

“I’ve written about this industry for almost 40 years and this is the worst downturn I’ve experienced and I’ve been through several of them. This one is blood and gore,” said Tippee.

“Read the Full Article at www.fox26houston.com >>>>”

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