"It's not just turning a switch like they think," said Mike Moncla, the president of the Louisiana Oil & Gas Association.
"Oil companies are doing all they can to get rigs back out, but when metal stacks, in this humid, south Louisiana environment, you get rust," Moncla said. "It's hard to afford to fix all these rigs when you don't know how long this is going to last," Moncla said. "We were all struggling to stay alive a year ago."
The U.S. oil industry has faced a downturn over the past several years after Saudi Arabia flooded the market and the COVID-19 pandemic decreased demand for gas. Many companies declared bankruptcies or downsized. Therefore, business owners not only need money to repair equipment; they also need workers.
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