RotorDog,
While it has, in fact, been quite some time since I last flew a single-engine single-pilot aircraft, I think I'm still able to see things from that perspective. Contrary to your assertion, I don't advocate the elimination of small ships. As you correctly pointed out the increased workload of operating a twin (even a light one) in certain jobs offsets any increased safety provided by the second engine.
As others have said, the safety enhancement of the larger multi-engine aircraft comes not so much from the second engine, but from their increased size and payload which justifies incorporation of such safety enhancements as a copilot, weather radar, radar altimeters, improved communications, autopilots, etc.
When I said things had gotten BETTER I meant that the larger oil companies are less inclined to tolerate risk. Ten years ago no one had traffic alert systems. VFR aircraft had barely sufficient instrumentation for VFR flight. We flew the Bell 206 extensively, an aircraft which has marginal power and tail rotor authority margins when heavy. Navigation was by quirky Loran or dead reckoning. Rafts, if you can believe it, were optional!
We still fly some 206s, but many of their jobs have gone to 407s, a much more capable aircraft. Traffic alert is on the way to becoming universally installed throughout the fleet. We have much more restriction on the distance from rescue and the weather conditions in which we allow the small ships to operate. Customers have become much better educated on the risk - benefit equation, and are now much less inclined to pressure a pilot to exceed his or the aircraft's limitations. While it's still far from perfect it is decidedly BETTER.
Our IFR program has likewise experienced growth and improvement. The "grid" system of intersections has allowed us to take better advantage of the capabilities of GPS navigation. We are upgrading our fleets with new, more capable aircraft. We are operating our aircraft with much more consideration given to mission planning and performance. We have become firm believers in Crew Resource Management for our multi-pilot crews. Again, not perfect, but BETTER.
Much of the impetus for this has come from our larger customers who are no longer willing to accept the previous level of risk. And rightly so. Regulations should SUPPORT a conscientious safety culture rather than drive it.
-Stan-