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May 16, 2018

Tech has helped oil drillers make more money … with fewer workers

The current wave of automation is sometimes described as the fourth industrial revolution. And almost every industry is affected, including oil and gas. Almost 40 percent of oil and gas workers are in Texas. With the price of crude oil at $70 a barrel, there’s a boom — but not in hiring. Job numbers haven’t gone up as much as some observers expected. Automation is partly to blame, but the industry is bringing in other technologies to stay ahead of the game as well. Marketplace’s Andy Uhler took a trip out to the Permian Basin in West Texas, where oil production has tripled in the last three years. (05/16/2018)  

Drilling oil wells these days still involves dirt and sweat - installing rigs in muddy fields. But there are also more jobs at desks, checking systems remotely by computer.
Drilling oil wells these days still involves dirt and sweat - installing rigs in muddy fields. But there are also more jobs at desks, checking systems remotely by computer.
Filipa Rodrigues/Marketplace

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The current wave of automation is sometimes described as the fourth industrial revolution. And almost every industry is affected, including oil and gas. Almost 40 percent of oil and gas workers are in Texas. With the price of crude oil at $70 a barrel, there’s a boom — but not in hiring. Job numbers haven’t gone up as much as some observers expected. Automation is partly to blame, but the industry is bringing in other technologies to stay ahead of the game as well. Marketplace’s Andy Uhler took a trip out to the Permian Basin in West Texas, where oil production has tripled in the last three years. (05/16/2018)