Wages for US oil and gas workers climbs above $43 an hour
Wednesday, June 14, 2023
Wages for U.S. oil workers have climbed over $43 an hour for the first time amid steady employment and slow production growth, according to Yahoo Finance.
According to a recently-released Labor Department report, average hourly earnings for front-line oil and gas workers rose 0.7% in April month-over-month to $43.28. Wages are up 12% compared with a year ago.
The rising wages, despite an economy that saw the jobless rate jump and paycheck growth ease, indicate that U.S. oil companies are maintaining their push for consistent drilling programs.
Learn more: Yahoo Finance > Hourly Pay for US Shale Workers Tops $43, a Record in the Industry’s Hunt for Employees
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.