Black Market For Black Gold Ignites As Jobless Roughnecks Resort To Oil Theft
by Tyler Durden
ZeroHedge.com
11/16/2015
The allure of ill-gotten oil money remains strong. The lull in drilling has given oil companies more time to scrutinize their operations — and their losses. As Bloomberg reports, during booms “they are moving at such a rapid pace there’s not a lot of auditing and inventorying going on,” said Gary Painter, sheriff in Midland County, Texas, in the oil-rich Permian Basin; but “whenever it slows down, they start looking for stuff and find out it never got delivered or it got delivered and it’s gone.” From raw crude sucked from wells to expensive machinery that disappears out the back door, drillers from Texas to Colorado are struggling to stop theft that has only worsened amid tens of thousands of lost roughneck jobs.
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