Active hubs' labor crunch

Worldwide capital spending for oil and gas development, transportation, refining, and marketing is strong and should remain robust for some time. OGJ's annual capital spending survey, starting on p. 28, outlines many major projects in North America and beyond. In North America, OGJ expects growth in upstream spending in 2012 of about 4% from last year's outlays. Meanwhile, the annual survey of international exploration and production expenditures by Dahlman Rose & Co. (DRC) expects upstream spending growth elsewhere to grow by 9% this year. This compares with the analysts' estimate that such spending climbed by 6% during 2011. DRC said this year's largest gains in spending would be by...

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