Independent Oil Producers’ Agency: Local Drillers Hurting

The Executive Vice President of the Independent Oil Producers’ Agency says mom-and-pop drillers in Kern County are having trouble breaking even because of the price of oil, which is at its lowest mark in at least six years.

Les Clark says several local companies are barely operating on shoestring budgets.

“If you have something that breaks down, or something of that sort, you don’t have the money to fix it,” he said.

Benchmark crude lost four percent on Tuesday to $43.08, down from over $61 in June.

– Anthony Pollreisz