A recent TIPRO Report reveals that the U.S. oil and gas industry job growth is booming and now employs 1 million workers, an astonishing number considering the recent recession that swept the market not too long ago. Part of the reason why the oil and gas industry has experienced this surge is because of new extracting techniques, a.k.a hydraulic fracking.. According to the TIPRO report, advancements in the oil and gas industry such as hydraulic fracking, have created a surge in domestic production in oil and natural gas and thus generated an increase in the demand for man power (supply and demand). This year alone, the U.S. has added a total of 23,700 jobs – that number reflects a nearly 3 percent increase from its previous year.
Job trends in the Oil and Gas Industry
Although hydraulic fracking may be good for job growth, a number of state and federal litigation issues could put a damper it’s progression. Now more than ever, many oil and gas companies are seeking experienced attorneys to serve as their in-house counsel and full-time attorneys as a part of their risk management strategy.
An experienced lawyer can protect the company from potential liabilities. Companies involved in fracking are aware of that fracking is a sensitive practice and potential litigation that comes with it. Since 2009, fracking litigation has exploded causing an ever increase in the number of law-suit and counter law-suits presented by both O&G companies and the communities of people involved – the need for in-house counsel for oil and gas companies has never been greater.