Prices-down, anxiety-up. Is it legitimate?



During the age of the American oil boom prospects to pursue a petroleum engineering degree were encouraging and a lot of young people thought that it is a certainity on the work market for the nearest future.

Unfortunately, crude prices are contiuously declining- the U.S. benchmark fell to $57.81 a barrel on Friday- and present student are starting to wonder whether their decision will transpire as a good one.

Valid energy companies as Apache Corp., BP, ConocoPhillips and Continental Resources are said to be planning budget cuts, experts anticipate further industry consolidation, which is a justified premise that petroleum branch is heading a slowdown.

Anxiety of students is also related to their apprehension that hunting for job and internship will become more competitive. Industry can’t assure work for future graduated and thit is not a problem of a moment so they are considering undertaking master’s degrees or jobs which will provide them practical experience so they won’t finish they internships empty-handed.

University officials do not have such a harsh attitude as students have and expect that working in petroleum industry will remain attractive for students. They don’t treat numbers as authority and are pointing substantial side of the problem- this business is cyclical. However they are adivising to become more flexible or ponder taking non-engineering roles.

Ramanan Krishnamoorti, chief energy officer at the University of Houston, does not expect that industry will hire less. According to his words, salaries and bonuses might decrease althought he doubts that companies will not invest in young talents.

Daniel Hill, head of petroleum engineering department at Texsam A&M, did not experienced negative effects of slowdown in the industry, 85% of his students still have secured job offers. “The world’s demand for oil and gas is not dropping,” Hill said. “And it’s got to come from somewhere.”[1]


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