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Big Oil Booms: Texas Truck Drivers Make $140k, Forces Rising Wages in Other Industries
[Town Hall] Big Oil is having an incredible impact, again, in Texas. Midland, TX is experiencing such a booming shale-oil economy that truck drivers are making more than $100,000. In turn, smaller businesses are forced to either raise their wages or extend hours to retain workers. But, this successful economy has what some say are a few downsides as well. With increased wages comes increased rents and labor shortages in public positions. Regardless, the region’s industry is providing bevy of economic benefits that could last for a very long time, reports the Los Angeles Times. Midland has an astoundingly low 2.1% unemployment rate due to the success of companies such as Chevron and Aveda Transportation & Energy Services Inc. Thanks to recent technology developments and decreased regulations, a swath of land roughly 75,000 square miles accounts for "30% of all U.S. [shale-oil] output." Plus, "booming U.S. shale production is fueling record crude oil exports, with shipments reaching an all-time high of 1.76 million barrels a day in April." As these companies grow, they need more workers. In order to be competitive, some are offering truck drivers as much $140,000 a year for transportation services. This provides many Americans who cannot afford a 4 year degree to instead opt for a two year degree and a commercial driver’s license. "A CDL is a golden ticket around here," said Steve Sauceda, who runs the workforce training program at New Mexico Junior College. "You are employable just about anywhere." Other folks such as Jazmin Jimenez, age 24, earn $28 dollars working in the industry. Posted by: Besoeker 2018-06-11 |
| http://www.rantburg.com/poparticle.php?ID=516119 |