Energy support sector's woes will continue even after oil price recovery

OILFIELD services, shipbuilders and other industries that rose with the pre-2014 oil price boom have had it hard. Since barrel rates fell, their previous patrons have become uninterested in doling out major purchase orders, leaving oil and gas equipment manufacturers without revenues.

A recent report by Arkansas Online says the energy industry's support sector could feel the effects of low oil prices for up to two years after the current bear market recovers.

"When oil gets good again we will be the last to get back to work" because half the fleet available is not currently in use, Vance Breaux Jr, a boat manufacturer from Louisiana, said.

Louisiana's rig count has shrunk to 35 active sites as of Sept 2 - down 40 from the same time last year, …