Society of Petroleum Engineer (SPE) recently released its annual salary survey for the Oil & Gas sector. I must say that I was delighted to find the result of the survey which is very promising and reassuring especially in this period of economic gloom! At a time when global giants are tumbling, people are being laid off in the thousands, the report findings are in stark contrast to the global economic slowdown. You can download the complete results here.
This survey was SPE’s second effort. Last year a similar survey was carried out among SPE members. This time around, the scale of respondents was higher and so was the diversity in their demography. Unlike last year, more than half of the respondents are working in countries other than the United States. In total, there were respondents representing 125 nations, working in 116 different countries around the world including a sizable number from North Sea/North Atlantic and Middle East regions.
A quick overview on the findings of the survey –
The average annual increase in base pay is reported as 8.1% overall. The work region with the highest increase is Australia/New Zealand, at 10.6%, while Canada is lowest with 7.3%.
This is great in comparison to other sectors where growth in the mid/high level is much less and in many cases, almost stagnant.
The United States, Australia/New Zealand, and North Sea/North Atlantic have the highest average pay in the industry while Southeast Asia being distinctly the lowest paid.
The average age of respondents is consistent around the globe – around 39 to 45 years.
If you’re looking to join this sector, here’s proof positive of the amount of money you can make. If you’re already in the business, you can do a quick benchmark against professionals in other geographies, disciplines and experience brackets.
Thursday, November 20, 2008
Thursday, November 13, 2008
Double trouble: deflationary oil prices & financial meltdown
Overlapping Crises
The current financial crisis has ballooned around the world economy and there are fears that this international recession could even trigger a global economic meltdown. Most economic analysts are predicting that it will get worse before it gets better. This is reflected in some of the recent downswings in stock markets worldwide as near term recessionary expectations are being priced in today. The channels of credit have dried up and businesses small and large have been plagued by a credit crunch.
The other key trend is in the sharp volatility of hydrocarbons prices. After a remarkable run up over the last two years, crude prices have plummeted over the past few months. We hit $58 for crude today; and will probably drop further as the global demand cycle weakens in the near term. While there are many factors driving the price of oil (demand- supply, speculation, political risk, etc), it is undeniable that there has been some demand destruction due to unsustainable high prices in the $150 range.
Effect on Projects
So how is this price deflation and the economic crisis at large going to effect the industry, and industry jobs in particular?
In the last few years, quite a few operators were able to leverage cheap credit and high commodity prices to finance large new exploration projects in some new areas. However with the squeeze in the credit markets, some of these projects are either being put on hold or delayed. Small cap companies are scaling back operations, seeking new partners or have become targets for acquisition. There are other companies are also restructuring their project plans to tide over the current period of economic uncertainty. Shell recently announced the delay of its oil sands project in Canada, Yemen has also delayed its gas production outlook. However, most large cap integrated oil companies are not cutting back as they did not factor in prices in the $140 range while making their investment decisions. This is also the case for most national oil companies.
In the long term, my sense is that the demand-supply equation will be unbalanced. The IEA predicted last week in its World Energy Outlook that by 2010 oil companies will have to commit to projects producing almost as 7m barrels a day – if the world is to avoid a supply crunch by the middle of the next decade. This is due to the steep rates of decline in existing fields to meet demand of growing economies like China and India. Further investments should stanch the natural rate of output decline of 9% down to 6.7%. As a result they have predicted a price range greater than $100 by 2015.
Outlook
So the question is how will the credit crunch and lower oil prices affect the labor market in the Oil and Gas industry? Will it stall the recruitment and talent acquisition process? Are we going to see a repeat of the layoffs of the 1980s?
It’s early to say right now; we may have more volatility coming down the pike. But over the medium term once key economies right themselves, demand should increase. China has taken a good step in that direction this week. Only time will tell, but I feel pretty optimistic.
What do you think?
The current financial crisis has ballooned around the world economy and there are fears that this international recession could even trigger a global economic meltdown. Most economic analysts are predicting that it will get worse before it gets better. This is reflected in some of the recent downswings in stock markets worldwide as near term recessionary expectations are being priced in today. The channels of credit have dried up and businesses small and large have been plagued by a credit crunch.
The other key trend is in the sharp volatility of hydrocarbons prices. After a remarkable run up over the last two years, crude prices have plummeted over the past few months. We hit $58 for crude today; and will probably drop further as the global demand cycle weakens in the near term. While there are many factors driving the price of oil (demand- supply, speculation, political risk, etc), it is undeniable that there has been some demand destruction due to unsustainable high prices in the $150 range.
Effect on Projects
So how is this price deflation and the economic crisis at large going to effect the industry, and industry jobs in particular?
In the last few years, quite a few operators were able to leverage cheap credit and high commodity prices to finance large new exploration projects in some new areas. However with the squeeze in the credit markets, some of these projects are either being put on hold or delayed. Small cap companies are scaling back operations, seeking new partners or have become targets for acquisition. There are other companies are also restructuring their project plans to tide over the current period of economic uncertainty. Shell recently announced the delay of its oil sands project in Canada, Yemen has also delayed its gas production outlook. However, most large cap integrated oil companies are not cutting back as they did not factor in prices in the $140 range while making their investment decisions. This is also the case for most national oil companies.
In the long term, my sense is that the demand-supply equation will be unbalanced. The IEA predicted last week in its World Energy Outlook that by 2010 oil companies will have to commit to projects producing almost as 7m barrels a day – if the world is to avoid a supply crunch by the middle of the next decade. This is due to the steep rates of decline in existing fields to meet demand of growing economies like China and India. Further investments should stanch the natural rate of output decline of 9% down to 6.7%. As a result they have predicted a price range greater than $100 by 2015.
Outlook
So the question is how will the credit crunch and lower oil prices affect the labor market in the Oil and Gas industry? Will it stall the recruitment and talent acquisition process? Are we going to see a repeat of the layoffs of the 1980s?
It’s early to say right now; we may have more volatility coming down the pike. But over the medium term once key economies right themselves, demand should increase. China has taken a good step in that direction this week. Only time will tell, but I feel pretty optimistic.
What do you think?
Friday, November 7, 2008
Life in Kazakhstan
Kazakhstan is among the most important geographies for the upstream sector. The country currently has the 11th largest proven reserves of both oil and natural gas. Estimate indicates that there is over 2.7 billion tons of petroleum scattered in about 160 deposits.
The 9th largest country in the world is bordered by Russia, Kyrgyzstan, Turkmenistan, Uzbekistan, China and a significant part of the Caspian Sea. It is widely believed that the Caspian shore is only a small part of a much larger deposit and that 3.5 billion tons of oil and 2.5 trillion cubic meters of gas could be found in that area.
However, I do not intended to give you the facts and figures of Kazakhstan’s natural resource nor an account of its diversity in terrain – flatlands, steppes, taigas, rock-canyons, hills, deltas, mountains, snow-capped mountains, and deserts. What I would like to dwell upon in this post is the country and its people which energy professionals might find useful in case they take up a project in the country.
Let me begin by saying that Kazakhstan is not at all like the way it was stereotyped in the movie Borat! The cities are clean, complete with ample civil amenities. There are many wide boulevards, lots of trees, and the roads are generally well kept. Though there are no published routes, it’s easy to find your way around. There are city buses, trolleys, and trams making it easy to move around. However, things are not as well kept as you progress farther from the mountains towards the outskirts. It would be a tad harsh to expect the same level of convenience in all parts of a country where the population density is less than 6 people per square kilometer.
History
Kazakhstan was part of the Russian Empire. Kazakhstan declared itself an independent country on December 16, 1991. Nursultan Nazarbayev – its communist-era leader, became the country's new president. While the country's economic outlook is improving, President Nazarbayev maintains strict control over the country's politics.
People and Religion
Kazakhstan has historically hosted a wide variety of ethnic groups with varying religions. Tolerance to other societies has become a part of the Kazakh culture. One of the major reasons of ethnic and cultural diversity is because of mass deportations of many ethnic groups to the country during Stalin's rule. Kazakhs are the largest group, followed by Russians. Kazakhstan allows freedom of religion, and many different beliefs are represented in the country. Islam is the primary religion, followed by Orthodox Christianity. The official language is Kazakh, though Russian is still commonly used for everyday communication.
Food Habits
One of the major concerns of people going abroad to stay for a longer period of time is the eating habits of the host country. Generally, diet consist of lots of vegetable and livestock meat cooked in many ways and served with traditional bread. People belonging to the Western countries might be surprised by the amount of fried food here! A Peace Corp volunteer writes in her blog that “Every soup has a little oil floating on the top”
Most of us like our tea, coffee or even a cup of hot chocolate in cold winters while during summers, we resort to juice, lemonade or even iced tea. But Kazaks drink lots of tea throughout the year. Tea breaks are common, and along with the tea breaks there is a variety of cookies and candy. Another peculiarity is that there aren’t any designated breakfast, lunch and dinner foods and it is common to have the same soup for dinner and then breakfast the following morning.
Culture
Traditional moral values of Kazakhs are respect of the elders and hospitality to strangers. This makes it easy for foreigners to ask around and find out places. An average Kazak goes out of his way to help a tourist with language barrier. The country has an impressive 99.5% adult literacy rate, thanks to a well-structured education system comprising of many reputed universities, academies, and institutes, conservatories, higher schools and higher colleges.
Because livestock was central to the Kazakhs' traditional lifestyle, most of their current practices and customs relate in some way to livestock. For example, it is considered as good manners for an average Kazak to ask first about the health of a man's livestock when greeting him and later inquire about the human aspects of his life.
The country’s largest city – Almaty is considered to be the musical capital of Central Asia. Well-known artists such as Deep Purple, Tokyo Hotel, Atomic Kitten, Dima Bilan, Loon, Craig David, The Black Eyed Peas, Eros, Ace of Base and others have recently toured the country.
Kazakhstan is a very pleasant country with picturesque landscape almost everywhere. Once your Russian is good enough, it is almost like working in a picnic spot.
The 9th largest country in the world is bordered by Russia, Kyrgyzstan, Turkmenistan, Uzbekistan, China and a significant part of the Caspian Sea. It is widely believed that the Caspian shore is only a small part of a much larger deposit and that 3.5 billion tons of oil and 2.5 trillion cubic meters of gas could be found in that area.
However, I do not intended to give you the facts and figures of Kazakhstan’s natural resource nor an account of its diversity in terrain – flatlands, steppes, taigas, rock-canyons, hills, deltas, mountains, snow-capped mountains, and deserts. What I would like to dwell upon in this post is the country and its people which energy professionals might find useful in case they take up a project in the country.
Let me begin by saying that Kazakhstan is not at all like the way it was stereotyped in the movie Borat! The cities are clean, complete with ample civil amenities. There are many wide boulevards, lots of trees, and the roads are generally well kept. Though there are no published routes, it’s easy to find your way around. There are city buses, trolleys, and trams making it easy to move around. However, things are not as well kept as you progress farther from the mountains towards the outskirts. It would be a tad harsh to expect the same level of convenience in all parts of a country where the population density is less than 6 people per square kilometer.History
Kazakhstan was part of the Russian Empire. Kazakhstan declared itself an independent country on December 16, 1991. Nursultan Nazarbayev – its communist-era leader, became the country's new president. While the country's economic outlook is improving, President Nazarbayev maintains strict control over the country's politics.
People and Religion
Kazakhstan has historically hosted a wide variety of ethnic groups with varying religions. Tolerance to other societies has become a part of the Kazakh culture. One of the major reasons of ethnic and cultural diversity is because of mass deportations of many ethnic groups to the country during Stalin's rule. Kazakhs are the largest group, followed by Russians. Kazakhstan allows freedom of religion, and many different beliefs are represented in the country. Islam is the primary religion, followed by Orthodox Christianity. The official language is Kazakh, though Russian is still commonly used for everyday communication.
Food Habits
One of the major concerns of people going abroad to stay for a longer period of time is the eating habits of the host country. Generally, diet consist of lots of vegetable and livestock meat cooked in many ways and served with traditional bread. People belonging to the Western countries might be surprised by the amount of fried food here! A Peace Corp volunteer writes in her blog that “Every soup has a little oil floating on the top”
Most of us like our tea, coffee or even a cup of hot chocolate in cold winters while during summers, we resort to juice, lemonade or even iced tea. But Kazaks drink lots of tea throughout the year. Tea breaks are common, and along with the tea breaks there is a variety of cookies and candy. Another peculiarity is that there aren’t any designated breakfast, lunch and dinner foods and it is common to have the same soup for dinner and then breakfast the following morning.
Culture
Traditional moral values of Kazakhs are respect of the elders and hospitality to strangers. This makes it easy for foreigners to ask around and find out places. An average Kazak goes out of his way to help a tourist with language barrier. The country has an impressive 99.5% adult literacy rate, thanks to a well-structured education system comprising of many reputed universities, academies, and institutes, conservatories, higher schools and higher colleges.
Because livestock was central to the Kazakhs' traditional lifestyle, most of their current practices and customs relate in some way to livestock. For example, it is considered as good manners for an average Kazak to ask first about the health of a man's livestock when greeting him and later inquire about the human aspects of his life.
The country’s largest city – Almaty is considered to be the musical capital of Central Asia. Well-known artists such as Deep Purple, Tokyo Hotel, Atomic Kitten, Dima Bilan, Loon, Craig David, The Black Eyed Peas, Eros, Ace of Base and others have recently toured the country.
Kazakhstan is a very pleasant country with picturesque landscape almost everywhere. Once your Russian is good enough, it is almost like working in a picnic spot.
Tuesday, October 21, 2008
Oil & Gas Careers: Things to consider
The Dallas Morning News has suggested in one of its article by Elizabeth Souder that “This is a great time to look for a job in the oil industry.” Her report is largely based the oil prices and an aging industry workforce – something we have been following & acting upon for some time. With the rise in oil prices over the last two years (and notwithstanding the recent gyrations the past few weeks), there is increased enrollment in petroleum engineering and geology programs worldwide.
However, it is advisable not to base one’s career decision based on the commodity market. Before you decide to join the petroleum industry, here are a few things to consider.
Basic Aptitude
Strengths in science and mathematics are the backbone of petroleum engineering and geology careers. You will be doing a fair bit of analysis & modeling in your future roles. If you don’t have the the aptitude in the basic physical sciences you may want to consider other options.
Global Mobility
This industry is one of the most global in nature. Hydrocarbons are found in more than 80 countries, but its likely that in the next two decades extractable oil may be developed in more inhospitable climes. You can look forward to a fair bit of travelling in the Exploration & Production aspect of this sector, particularly if you join a oil services organization. This may strike a chord with you if you’re adventurous in nature, If frequent traveling is not your cup of tea you may want to evaluate other aspects of this sector; particularly in refining or marketing of hydrocarbons.
Cyclicality
The 90s saw a decline in prices which depressed the number and types of jobs in the sector. The past few years on the other hand has been characterized by a steep price rise as well as volatility. During boom times it does seem that the tipping point is far away, however know that Oil & Gas, much like other commodities, is a fairly cyclical industry. A future slowdown in the industry will effect the job market too. However the skills that you will pick up in this industry, including the managing complex engineering projects, data intensive modeling or opening new markets for hydrocarbons will stand you in good stead in other industries.
In summary, the industry is growing and is exciting. However you may want to take a longer term view as you plan on venturing into this field.
However, it is advisable not to base one’s career decision based on the commodity market. Before you decide to join the petroleum industry, here are a few things to consider.
Basic Aptitude
Strengths in science and mathematics are the backbone of petroleum engineering and geology careers. You will be doing a fair bit of analysis & modeling in your future roles. If you don’t have the the aptitude in the basic physical sciences you may want to consider other options.
Global Mobility
This industry is one of the most global in nature. Hydrocarbons are found in more than 80 countries, but its likely that in the next two decades extractable oil may be developed in more inhospitable climes. You can look forward to a fair bit of travelling in the Exploration & Production aspect of this sector, particularly if you join a oil services organization. This may strike a chord with you if you’re adventurous in nature, If frequent traveling is not your cup of tea you may want to evaluate other aspects of this sector; particularly in refining or marketing of hydrocarbons.
Cyclicality
The 90s saw a decline in prices which depressed the number and types of jobs in the sector. The past few years on the other hand has been characterized by a steep price rise as well as volatility. During boom times it does seem that the tipping point is far away, however know that Oil & Gas, much like other commodities, is a fairly cyclical industry. A future slowdown in the industry will effect the job market too. However the skills that you will pick up in this industry, including the managing complex engineering projects, data intensive modeling or opening new markets for hydrocarbons will stand you in good stead in other industries.
In summary, the industry is growing and is exciting. However you may want to take a longer term view as you plan on venturing into this field.
Wednesday, October 15, 2008
Engineering Students: Career aspirations, expectations & needs
As a part of our campus outreach program, we have been interacting with students from various engineering colleges all across India. On of our primary objectives has been to understand the mindsets of young graduating engineering students’ vis-à-vis their career aspirations, expectations and needs. We are in the process of compiling the findings and implications from a very extensively commissioned ethnographic research and we hope to share it with you soon.
Meanwhile, i would like to dwell upon a few very interesting observations and revelations that came out in the process.
One very heartening trend we noticed is a strong 'anti-IT' sentiment that is brewing among most students. I could never fathom how and why half my mates from regular engineering disciplines ended up with a software company! Perhaps the economic recession and saturation in the IT sector are accountable for this change. But most students we spoke to were pretty uncluttered in their minds - they didn't want to pursue a career where their core academic expertise had nothing to contribute.
Students today take a much more proactive role in planning their careers. The Internet epitomizes information for them and they are adept at using it for academic and professionals reasons too. They have increased awareness of career choices coupled with better exposure and understanding of most industries. They consequently seek information that will help them make more informed career choices. However the Energy industry still seems to be in an information black hole - they encounter only a few sources on career related information and none of them is detailed and credible enough.
Another finding of the research was the emphasis students placed on maintaining an equitable work-life balance, even though they haven’t entered the workforce yet! Money is important, but they also feel the need for quality time to actualize themselves. Students also rate work satisfaction as more important than remuneration packages and are keen on seeking out challenging work environments and getting to a personal sense of fulfillment.
To be continued...
Meanwhile, i would like to dwell upon a few very interesting observations and revelations that came out in the process.
One very heartening trend we noticed is a strong 'anti-IT' sentiment that is brewing among most students. I could never fathom how and why half my mates from regular engineering disciplines ended up with a software company! Perhaps the economic recession and saturation in the IT sector are accountable for this change. But most students we spoke to were pretty uncluttered in their minds - they didn't want to pursue a career where their core academic expertise had nothing to contribute.
Students today take a much more proactive role in planning their careers. The Internet epitomizes information for them and they are adept at using it for academic and professionals reasons too. They have increased awareness of career choices coupled with better exposure and understanding of most industries. They consequently seek information that will help them make more informed career choices. However the Energy industry still seems to be in an information black hole - they encounter only a few sources on career related information and none of them is detailed and credible enough.
Another finding of the research was the emphasis students placed on maintaining an equitable work-life balance, even though they haven’t entered the workforce yet! Money is important, but they also feel the need for quality time to actualize themselves. Students also rate work satisfaction as more important than remuneration packages and are keen on seeking out challenging work environments and getting to a personal sense of fulfillment.
To be continued...
Tuesday, October 14, 2008
Petroleum Geoscientists: Fun @ Work
There are many reasons for someone to choose a career in the Oil and Gas industry. Generous salary and benefits packages, flexible work hours and company-sponsored, high end industry training are a few of them. However, during our many sessions with the people working in this sector, one thing that has came above all the other perks of working in Oil and Gas is the element of fun and excitement.
For example, the geologists affiliated to the energy sector actually get the chance to ‘do geology’ in a high-tech, high-data environment. These types of exposures are only dreamed of and talked about in most other geo-science professional jobs. During a typical career, petroleum geoscientists gather, process, and analyze seismic and well data to locate drill-sites for their companies. Obviously, this means that some domestic and foreign travel is a part of the job assignment.
Generally, petroleum geoscientists learn to locate three types of drill-sites –
Exploration drill-sites which are big scaled and high risk
Field Development drill-sites – medium size with some risk and
Producing field drill-sites which are smaller in scale and very low risk
One can start a career with a medium-to-large company with a bachelor's degree in geology or geologic engineering. A master's degree with specialty in structural geology, sedimentology, stratigraphy, or geophysics/seismology is highly sought after qualifications for petroleum geoscientists. Moreover, there are career opportunities for research geoscientists, paleontologists, and geochemistry specialists as well, but in fewer numbers.
There is a popular myth prevalent among people that the number of petroleum-industry jobs fluctuates with the price of a barrel of oil. However, it is only a myth. Almost all leading HR managers will endorse the fact that the employment outlook for new graduates appears to be bright for the foreseeable future, irrespective of the ups and downs of the oil business, All oil and gas companies plan to grow slowly regardless of the price of oil, and they have strategies that include hiring new talent into their maturing workforces.
Job openings are currently available for people with 3 to 15 years of professional experience. Most of these openings occur because many smaller companies are willing to pay a premium in salary and bonuses to people trained by larger companies. What has been a trend now is that companies preferentially seek out students with advanced degrees, broad-based training in the fundamental principles of geology, and complementary teamwork and commercial skills developed through summer internships.
Before signing off, here's a short video from the Documentary "Geo Families - how I learned to love the Rocks"
For example, the geologists affiliated to the energy sector actually get the chance to ‘do geology’ in a high-tech, high-data environment. These types of exposures are only dreamed of and talked about in most other geo-science professional jobs. During a typical career, petroleum geoscientists gather, process, and analyze seismic and well data to locate drill-sites for their companies. Obviously, this means that some domestic and foreign travel is a part of the job assignment.
Generally, petroleum geoscientists learn to locate three types of drill-sites –
Exploration drill-sites which are big scaled and high risk
Field Development drill-sites – medium size with some risk and
Producing field drill-sites which are smaller in scale and very low risk
One can start a career with a medium-to-large company with a bachelor's degree in geology or geologic engineering. A master's degree with specialty in structural geology, sedimentology, stratigraphy, or geophysics/seismology is highly sought after qualifications for petroleum geoscientists. Moreover, there are career opportunities for research geoscientists, paleontologists, and geochemistry specialists as well, but in fewer numbers.
There is a popular myth prevalent among people that the number of petroleum-industry jobs fluctuates with the price of a barrel of oil. However, it is only a myth. Almost all leading HR managers will endorse the fact that the employment outlook for new graduates appears to be bright for the foreseeable future, irrespective of the ups and downs of the oil business, All oil and gas companies plan to grow slowly regardless of the price of oil, and they have strategies that include hiring new talent into their maturing workforces.
Job openings are currently available for people with 3 to 15 years of professional experience. Most of these openings occur because many smaller companies are willing to pay a premium in salary and bonuses to people trained by larger companies. What has been a trend now is that companies preferentially seek out students with advanced degrees, broad-based training in the fundamental principles of geology, and complementary teamwork and commercial skills developed through summer internships.
Before signing off, here's a short video from the Documentary "Geo Families - how I learned to love the Rocks"
Monday, October 6, 2008
Climate-Change Management: Managing the Environment
The world is gradually moving from fossil fuel to greener substitutes. The western European countries’ governments especially are spending millions of Euros on alternative power source. However, one can not deny the need of fossil fuel to keep the world moving on. Whether we like it or not, Oil and Gas are the still the basic source for all our primary energy needs – 65% to be precise.
Even though developed countries are looking for alternative, renewable energy, it will be unfair to expect the same from the developing countries to follow suit. Growing economies like China and India have rapidly increased their fuel consumption, resulting in even higher demands. The technology and reliability of renewable energy use on a widespread commercial basis are not yet established nor are expected to be for several decades. Exorbitant cost is another major factor.
The best bet in view of the environmental effects like Global Warming, is that we should be more responsible towards the nature before we disturb its fine balance. This new sense of responsibility has given rise to academic fields like Climate Change Management and allied jobs in the Oil and Gas sector like Environmental Engineer, Environmental Geologist and Environmental Scientist for Petroleum etc.
Presently, a large portion of money is being pumped into the climate-change management studies is flowing from government sponsored grants apart from corporate or academic Research & Development. The U.S. Global Change Research Program has invested almost $20 billion in the areas of climate change and global change research. As we speak, more and more corporations are jumping into the foray to get access to specialists who can help them anticipate and mitigate the business impact of climate change.
The field is relatively new – not just as a course of study, but also as a career path. However, one can find many related environmental services jobs, drawn from diverse disciplines such as meteorology, geology and engineering. Companies are in a lookout for environmentally-savvy managers who can deliver energy efficiency, low carbon emission, smart buildings as well as sustainable business practices. Many of these corporations are willing to pay a premium to get out in front of the macro trend. Most of the current entry-level jobs demands academic qualifications like a bachelor’s degree in engineering or environmental fields or even a science-related graduate degree. If you can mix environmental management with a business degree, there is a lot of scope.
If you’re prospecting for work, bear in mind that there’s no environmental job gold rush yet but if you are the type to plan ahead, this is a career path destined for important things.
Even though developed countries are looking for alternative, renewable energy, it will be unfair to expect the same from the developing countries to follow suit. Growing economies like China and India have rapidly increased their fuel consumption, resulting in even higher demands. The technology and reliability of renewable energy use on a widespread commercial basis are not yet established nor are expected to be for several decades. Exorbitant cost is another major factor.
The best bet in view of the environmental effects like Global Warming, is that we should be more responsible towards the nature before we disturb its fine balance. This new sense of responsibility has given rise to academic fields like Climate Change Management and allied jobs in the Oil and Gas sector like Environmental Engineer, Environmental Geologist and Environmental Scientist for Petroleum etc.
Presently, a large portion of money is being pumped into the climate-change management studies is flowing from government sponsored grants apart from corporate or academic Research & Development. The U.S. Global Change Research Program has invested almost $20 billion in the areas of climate change and global change research. As we speak, more and more corporations are jumping into the foray to get access to specialists who can help them anticipate and mitigate the business impact of climate change.
The field is relatively new – not just as a course of study, but also as a career path. However, one can find many related environmental services jobs, drawn from diverse disciplines such as meteorology, geology and engineering. Companies are in a lookout for environmentally-savvy managers who can deliver energy efficiency, low carbon emission, smart buildings as well as sustainable business practices. Many of these corporations are willing to pay a premium to get out in front of the macro trend. Most of the current entry-level jobs demands academic qualifications like a bachelor’s degree in engineering or environmental fields or even a science-related graduate degree. If you can mix environmental management with a business degree, there is a lot of scope.
If you’re prospecting for work, bear in mind that there’s no environmental job gold rush yet but if you are the type to plan ahead, this is a career path destined for important things.
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