This page contains a Flash digital edition of a book.
Career Outlook INDUSTRY OVERVIEW


By Frank McCoy fmccoy@ccgmag.com


IS THE POWER PROFIT BARREL HALF-FULL? THE ENERGY SECTOR IS GREAT: DEPENDING WHERE YOU ARE


T


here is good news, but the challenges must be addressed first. Increased oil and gas production is great for consumers and other public, private, and nonprofit energy users, tough for oil companies here and abroad as prices have collapsed, and awful for oil patch workers.


Last March, Forbes magazine estimated that there were roughly 600,000 U.S. oil and gas workers. In 2013 the Department of Energy Information Administration stated that those employees earned average salaries of $108,000.


However, during the past year, more than 75,000 energy employees were laid off. Service companies, including Schlumberger, Weatherford, Baker Hughes, and Halliburton, shed at least 59,000. Exploration and production companies, including Total, Sasol, and Suncor, fired thousands, and manufacturing companies such as U.S. Steel, Vallourec, and companies manufacturing pipe cut 7,100.


Industry News


On the plus side, last April the U.S. Energy Information Administration (EIA) released its Annual Energy Outlook. The EIA projects that by 2028, due to the ongoing surge of U.S.


32 HISPANIC ENGINEER & Information Technology | Fall 2015


energy production, particularly in natural gas, energy imports and exports will balance out. Why? The EIA projects that the United States will become “a net exporter of petroleum and other liquids after 2020 in the High Oil Price and High Oil and Gas Resource cases because of greater U.S. crude oil production,” plus the country will become an exporter of natural gas by 2017.


U.S. energy consumption will continue to grow modestly as more energy-efficient technologies and policies promoting increased energy efficiency take hold.


A beneficial ancillary effect of cheaper energy, which will assist future STEM graduates, may be the growth of specific manufacturing industries, including bulk chemicals and primary metals. Manufacturers will also use more Natural Gas Pipeline Company of America feed stocks in place of petroleum-based naphtha feed stocks.


Petrochemical feed stocks, according to the Energy Information Administration, are “derived from refined or partially refined petroleum fraction, principally for use in the manufacturing of chemicals, synthetic rubber, and a variety of plastics.”


www.hispanicengineer.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52