Thursday, October 23, 2008


Graying Oil Industry

As if geology, geopolitics, and financing challenges were not enough for the oil industry already, there is the matter of replacing the industry’s graying work force. As this article ominously notes, “If efforts to plug the skills gap don’t succeed, senior industry executives say oil companies’ ability to tap new and challenging hydrocarbon resources fast enough to meet demand may have already have reached its limit.”

Add to this still more problems like the shortage of drilling rigs and the extensive rusting of oil infrastructure, and we have a real recipe for disaster.

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