Arthaud, a North Dakota native who’s been active in the state’s oil industry since the late 1970s, said he isn’t particularly concerned for his company, which employees some 2,000 people repairing oil field equipment, increasing the oil flow at wells, and trucking oil out of the fields to nearby rail hubs.
He’s been through this several times before, and instead of laying people off, he plans on using the downturn to hire employees away from other firms that aren’t as prepared to deal with it.
In pictures: An oil boomtown on the brink?
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