NEW YORK ( TheStreet ) -- Devon Energy (DVN) CEO John Richels has three suggestions for the how the U.S. government can jumpstart hiring: Allow companies to repatriate cash, keep tax deductions and get out of the way.
The oil and natural gas industry employs 1.8 million people in the U.S., according to Energy API and Devon employs 5,000 of them. The company, about one-third oil and two-thirds natural gas, was named one of 100 best places to work by Fortune Magazine, but Richels says further growth is becoming increasingly difficult because of government interference.
Since the beginning of 2001, the industry has hired 60,000 people, but continuing to expand is hard. In 2010, the industry added just 5,000 jobs and 17,000 in 2011 -- a preliminary reading. TheStreet spoke with Richels to find out what would lead his company to hire more people and what he thinks the government could do to help him.
Richels: What we really need is a pick-up in demand
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