Economy

Houston confronts one-two punch of COVID-19 and oil bust

Many energy jobs typically pay twice as much as other local employment and “once you start to cut those jobs out, you are taking a lot of purchasing power out of the economy,” Jankowski said. Oilfield services companies have already furloughed or laid off workers. In the next few months, accountants, geologists and drilling managers will follow, Jankowski said. – islandpacket.com

States ask Trump administration to pay laid off oil workers to plug abandoned wells

A coalition of U.S. oil producing states has asked the Trump administration for stimulus funds to hire laid off energy workers to plug abandoned wells, a proposal aimed at fending off unemployment while tackling a growing environmental problem, a spokeswoman for the group said.

Related posts

MASS LAYOFFS IN NORTH DAKOTA – TEXAS

News

Chairman Jay Powell – Federal Reserve takes emergency action

News

Russia’s unwillingness to lose market share pays off?

News