America's Hottest Oil Play Just Needs a Few Thousand Truckers
- Permian Basin needs another 3,000 drivers as output surges
- Western edge of Permian has most acute trucker shortage
UBS's Schnider Expects Oil to Come Under Pressure in 2018
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When the price of oil collapsed in 2014 and disrupted drilling operations all across Texas’s massive Permian Basin shale formation, truckers were among those hardest hit. Rendered unnecessary by the slump in output, they were fired in scores.
Now, three years later, with oil prices inching back higher and production in the Permian soaring once again, the drillers want the truckers back. The feeling, though, isn’t mutual. The pain of the 2014 bust remains fresh for many who went on to find driving gigs in other industries and, what’s more, they worry that companies will remain tightfisted with pay as they re-hire.