The Permian Basin in West Texas is the epicenter of oil production in the United States, but the industry is facing staffing shortages, delays in getting materials, increased prices for those products, and uncertainty caused by the invasion of Ukraine.
Although the oil industry is producing at record production levels, the profit isn't there for producers.are asking after Russia invaded Ukraine.oil production rather than relying on foreign countries to heat our homes and fill up our gas tanks.
Yet 50,000 employees in the region were laid off during the pandemic, and about one million nationally. Even with these challenges, the Permian Basin has been operating at near-historic levels of production, about 5 million barrels a day. "We're trying to see the supply chain where those things are, how we can't procure them at okay cost, not exorbitant pricing that we're seeing right now," Edwards said. "So we're just kind of sitting back and seeing if things settle down."
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