Hope and Change. Surely a 15% reduction in drilling rigs won’t have any effect on our economy, right?? Making the oil companies the bad guys will do nothing for a US recovery. Perhaps more attention should be paid to why BP felt forced to recover oil 23,000 feet below the surface.
RIGZONE - Analysis: Could U.S. Lose 200 Rigs by the End of Summer?
Rigzone Staff
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Friday, May 28, 2010
The Philadelphia Oil Service Sector index, commonly known by its ticker OSX, is based on the stock market movements of 15 oil service company components. The current members of the OSX are Baker Hughes, Cameron, Global Industries, Halliburton, Lufkin Industries, Nabors, Noble Corporation, National Oilwell Varco, Oceaneering, Rowan Companies, Transocean, Smith International, Schlumberger, Tidewater, and Weatherford. By overlaying the OSX with the Baker Hughes US Rig Count; one can make the argument that some correlation between the two may exist.
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