Since 1944, one of the largest oil field service companies in Texas, Baker Hughes Company, has released data at the end of each week on the state of the oil and gas industry. Last week, Baker Hughes reported an increase in U.S. rig counts which affects demand in a variety of energy sectors such as drilling, completion and production. These rigs are aided in the exploration and production of oil and natural gas domestically.
Before the COVID-19 Pandemic, many companies were faced with a shortage of CDL drivers. With layoffs and unemployment at a record high, it is logical to think that there would be a lot more people stepping in to fill the truck driver shortage. However, going into 2021 that is not the case and the industry is still hurting for drivers.
Yesterday, Congressional leaders and Lawmakers reached a nearly $900 billion COVID-19 stimulus deal, including another round of stimulus checks and jobless benefits. After months and months of standoff, Washington has come to agreement just before Christmas where almost 12 million people are set to lose unemployment benefits. The new deal includes $300 to the federal unemployment insurance benefit, extending eviction moratoriums for renters for an unspecified amount of time and $600 direct payment to most Americans.
Tis the season for winter weather and this week we are experiencing the full effects of winter storm Gail, marching up the east coast. Many from Washington D.C., Maryland, Virginia, West Virginia and Pennsylvania have all felt these effects which includes slick road conditions and delayed travel.
It is that time of year where the holidays are starting to begin! Even with restrictions and guidelines that COVID – 19 brought with 2020, many markets and businesses are closed for Thanksgiving, there is a lot that goes on behind the scenes to meet consumer needs. Let’s look at some of this year’s statistics.
As the trucking industry tries to continue to improve productivity and keep drivers happy, mobile technology remains important. A steady increase of the number of apps available for drivers is an ongoing theme to advance efficiency. Many of these apps are available on the driver’s handheld devices including GPS, load assignments, delivery status and travel centers just to name a few. To keep pace with the pandemic, travel centers are focusing on mobile apps and grab and go food to minimalize face to face interaction. “The Pilot Flying J app is a helpful tool for guests and professional drivers to use any time, but especially now to limit contact at stores and help stay safe and healthy,” Jason Nordin, Pilot’s chief operator, wrote in an email to American Trucker. “With the Pilot Flying J app, drivers can handle business and get the services they need from the safety and convenience of their phone.
During the last quarter of 2020, everyone can agree that economically, we have seen better days. Especially in the energy industry, spending cuts, revised budgets, and slashed investments have played an impact. However, we are starting to see hope for offshore drilling stated by Rystad Energy, a global oil and gas analytics firm. Their analysts anticipate a 40% growth in Floatable Production Storage and Offloading facilities (FPSOs). China has taken an interest in FPSO’s and prepared its shipyards for an increase in new orders.
The Oil Conservation Division (OCD) and its parent agency, the Energy, Minerals and Natural Resources Department (EMNRD) began work on stricter regulations on gas emissions from extraction facilities last year as mandated by Gov. Michelle Lujan Grisham through an executive order. Grisham established the State’s Climate Change Task Force, made up of EMNRD and the New Mexico Environment Department to find ways state operations and laws could be used or developed to reduce pollution in New Mexico and its impact on climate change. Reported last month, New Mexico Oil and Gas Association (NMOGA) reported that in 2018, oil and gas provided 134,000 instate jobs and $16.6 billion to the state’s economy.
Several storm systems have formed in the Atlantic, including Hurricane Teddy, Tropical Storm Beta and a new tropical system developing over South Florida.
Hurricane season generally lasts from June 1st through November 30th. Typically, we will not start to see its impact until August which will usually peak into September. Why is this important to know and how does it pertain to the energy industry? In the past, hurricanes have caused billions of dollars’ worth of damage especially along the gulf and Atlantic coastal regions. Its storms impact the infrastructures, power grids, as well as the production of offshore drilling, which can cause major fluctuations in the oil and gas industry.