Assignment 1 Essay Example | Topics and Well Written Essays - 250 words - 13

Assignment 1 - Essay ExampleThe falling anoint prices have forced rock oil producers to adopt survival measures that include set upoffs of many employees. Other companies related to the oil industry atomic number 18 in like manner feeling the effects of the continued reduction of oil prices. Indeed, the mining and logging industry pink-slipped 3,000 employees last month (Zumbrun 1).Moreover, Schlumberger seeks to lay off about 9,000 employees since the plunging oil prices are jeopardizing production (Strauss 1). Hercules Offshore Inc is also planning to fire about 324 employees since oil producers are not willing to renew contracts for their offshore oil production rigs (Sparshott 1). Most notable U.S. economists assert that suppliers of U.S oil and gas companies will fire about 40,000 employees while equipment manufacturers could lay off 5,500 employees by December this year (Zumbrun 1).I support the need to address the issue of plunging oil prices since they threaten employ ment rates in U.S. In addressing the issue, U.S will safeguard the jobs at oil companies, supplying, and manufacturing companies associated with the oil industry. I am grateful of your time and continued coverage of this