The oil and gas industry is reeling following the outbreak of COVID-19 and a price conflict between Russia and Saudi Arabia, both of which have combined to send oil prices tumbling and drillers scrambling to pick up the pieces. The US federal government has passed legislation to help businesses stay afloat during the pandemic, and in this interview, Elizabeth Craddock, VP of Policy and Government Affairs at IADC, will outline what this legislation is and how drillers can take advantage of it. Mrs Craddock, whose work involves advocating on behalf of IADC member companies before the US Congress and government agencies, will also discuss why it is important for the government to help the oil and gas industry manage through one of the more challenging economic environments in years.
For more information on available government and industry resources, please visitIADC’s COVID-19 page. The US Internal Revenue Service (IRS) also has information on how companies can apply for tax relief under the CARES Act, while the US Treasury Department has information on how small businesses can apply for assistance under the Paycheck Protection Program.