Certainly seems to go along with what my relative told me about LeTourneau. I was at the plant about 4 years ago and I saw no Mfg. of Oil equipment at all. It was only steel & some of its loader equipment.
They leave out the sky rocketing insurance premiums in the GOM, hurting the jackups and compressing margins. It's going to be awhile before the sting of Katrina is forgotten.
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