The math isn't the same on the actual rigs, though. The article says half as many rigs with a quarter as many people per rig to get the same amount of oil. So yeah, if we get to $60 or the heady days (I live in Houston) of $110 a barrel it'll add jobs again.
It won't add jobs the way it used to. About 7/8 of the people who would've received calls in the next upswing won't if the numbers in the article hold.
Not exactly - if oil gets that high there will be as many jobs - they will create even more wells though. What this really means is that as oil approaches $60/barrel the same number of people can drill more wells. In turn we are less likely to get over $60/barrel in the first place: as we get close more wells will be drilled which will drive the price back down.
Until peak oil of course - at some point we run out of okay places to drill wells. (the great places ran out before 1910, we have been moving down since) Once the geologists run out of useful places to drill something else needs to be in place to replace oil.
It won't add jobs the way it used to. About 7/8 of the people who would've received calls in the next upswing won't if the numbers in the article hold.