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Drilling-rig demand starts slowing down.

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  • Additional Information
    • Subject Terms:
      UNITED States
    • Abstract:
      The article reports on the economic performance of the oil well drilling-rig market in the U.S. in 1982. According to economist Chad L. Wiley, the industry should reach an equilibrium between supply and demand. It notes that the slowing of new orders will bring an end to the delirious effort to build new rigs that has provided overtime for welders and machinists and could also bring an end to business for dozens of new companies that have started into the rig business.