Now that global rescission has become a household term and lay offs & pink slips have become a part of our daily vocabulary, you might find it odd to find large number of ads by oil rig companies on job classifieds. Oil prices are less than half of what it used to be a few months back. So, why are the oil rig companies still hiring?
Sure, the worldwide economic growth is slowing and the low crude oil price IS affecting new projects. Prospects aren’t too bright for a regular office job, be it Oil &
There are two major reasons behind it.
The first reason is the basic economic principle of demand and supply. Demand for oil and
Newly elected US President Obama’s one of the key agenda was alternative energy. However, in the current gloomy economic scenario, there is less likelihood of pushing for it simply because renewable energy is costlier.
The second major reason for this unabated hiring effort from the oil companies is talent shortage. Today, there are so many drilling rig jobs filled by graying workers hired in the 1970s. Most of them will be reaching retirement age in a few years. While the oil and