Uncertainty looms over the petroleum sector. In March, the industry saw new opportunities open up when President Obama lifted a 20-year moratorium on offshore drilling along the East Coast, as well as portions of the Gulf of Mexico and the Alaskan coastline. Three weeks later, the political environment took a dramatic turn following the April 20 explosion at BP’s Deepwater Horizon rig in the Gulf of Mexico. The administration ordered a temporary ban on offshore drilling in the Gulf and halted exploration of several new areas. Portions of the oil industry have since been locked in a court battle over
Despite a faltering international market, 2015 and the beginning of 2016 are proving to be strong years for U.S. contractors, with steady domestic growth and only moderate strain from workforce shortages.