Tuesday, February 26, 2008
Oil Costs and the Price System-2
"More than 70% of energy companies expect their future operations to be hit by shortages of skilled personnel, according to a survey commissioned by the London-based Energy Institute. ... 'The risk of future serious shortages in science, engineering and technical skills has emerged, exacerbated by increasing global demand, large-scale downsizing leading to lack of recruitment into the energy sector during the 1980s, and a large section of the work force rapidly approaching retirement.' the report accompanying the survey said. ... The report said it is vital for the industry to raise its profile and convince young people that it offers exciting long-term careers", WSJ, 20 February 2008.
Long-term careers? Really? I'm sure most college kids considering an energy sector career spoke to their elders and were told how cyclical the industry is and that it offers little job stability. What will the companies looking to hire kids offer them? Pensions when they retire, which will never be paid? See also my 24 December 2007 post.