March 2009

Columns

HPIn Europe: Sacrificed to the money system: engineering workforce

Because of the shortage of an artificial commodity known as money, people who produce a real commodity known as oil will shortly be losing their livelihoods and, quite possibly, their homes. We're use..

Wright, Tim L., Hydrocarbon Processing Staff

Because of the shortage of an artificial commodity known as money, people who produce a real commodity known as oil will shortly be losing their livelihoods and, quite possibly, their homes. We're used to this cycle, but does it really have to be this way? Those of us who worked in or near the oil industry through the 1990s already have the scent of what's coming. Mergers, consolidation, cost-savings and canceled projects all mean that any time soon job cuts are due in a corridor near you. ConocoPhillips, the first of many perhaps, has announced that it is cutting 4% of its overall workforce, slashing capital spending by 18% and writing off $34 billion in assets because of falling energy

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