Show Notes & Links:
Jake mentioned on Ep. 180 that “Schlumberger and Halliburton, as far as I know, had not announced any layoffs either” when discussing NOV incurring costs due to early retirements and severance payments; however, Halliburton announced on July 22nd that it cut 8% of its North American workforce during the second quarter of 2019.
Hi, I really appreciate the work your team puts into this podcast each week. I recently completed my MBA capstone project working as a consultant for a business in the oil & gas industry and I have been listening for a few months to help understand industry trends and to learn the language of the industry a little better. It has been very helpful. In doing some research about the industry, one of the topics of conversation that I found interesting was around projections for oil & gas demand. McKinsey makes some projections around oil & gas demand saying that they will each reach peak demand around 2035 and then begin to be displaced by renewable energy sources such as solar and wind. I have heard both opinions where some think electric vehicles will be adopted quicker and we will see peak demand in 2025 and others think it will be much longer before we hit peak demand. I was curious to hear your opinions on these projections. See reference: www.mckinsey.com
In show 176 you spoke about hydrogen fuel cell vehicles. Also mentioned was the emissions from these vehicles is water vapor. Knowing that greenhouse gasses are 95ish% water vapor, could one argue that hydrogen fuel cell vehicles could potentially harm the environment? At the least should we study this before society jumps on this bandwagon?
Have you heard of the Pilot Thomas project SafeArm? If so how do you think this will grow in the oil and gas market? I also think this would be a interesting topic on an episode of the podcast
Not really a question, was listening to the podcast today and y’all mentioned that there are no schools that offer subsea engineering degrees. Well I’m actually a Master’s student at Texas A&M in our new Subsea Engineering program and just wanted to correct the comments about the lack of subsea engineering degrees! Big fan of the podcast
Hi Mark/Jake, I am an active listener of your podcasts and an O&G professional myself. I was a wireline engineer at Baker Hughes and am an MBA from Rice University. In today’s episode, you guys talked about the lack of engineers/talent in the industry and the potential short supply in the future. You also mentioned that fresh graduates prefer tech industry than O&G and see O&G as a dirty industry. There are many reasons why the tech industry is so successful in attracting young talents, one such reason is they encourage diversity. All they care about is the brain not the origin or nationality of their talents. Over a period of time, they are able to attract the best of the brightest from around the globe. However, we do not see that much diversity in our industry, in the USA particularly. We do not want to recruit foreign engineers and in fact, the O&G industry is the worst in terms of sponsoring a work visa for the extremely talented global engineers and professionals. There is no shortage of engineers outside the USA, but we don’t want them. If we continue to shy away from global talents, it will take the industry down. I have worked internationally, in four continents, and seen people from all over the world working together in the industry – a true global industry but not in the USA. It’s the biggest irony that there is no place for global talent (especially in Houston) in a global industry. One of the solutions to this problem is to look for engineers and professionals outside the US schools and make their life easier in terms of helping them with the work permits. There is no shortage of extremely talented professionals in the world. Hope the industry leaders understand this and take necessary actions before it’s too late. PS: I lived in Houston and had a first-hand experience. PPS: I really hope you guys dare to challenge the status quo and include this in your show.
Hey guys, I am a recent subscriber to your show and cannot express how thankful I am for your engaging flow and ability to break down complex topics. I am an “outsider” to the oil and gas industry, but specialize in Middle East security studies and we will leave it at that… I really want to make a career change to the oil and gas industry and utilize my current skill set to break into the job scene. However, I am worried my lack of resident knowledge about your industry will preclude me from getting a foot in the door. Given my experience, do you think there is a place for an intelligence specialist to make a career change? P.S. if you or Jake ever have any need for quick explanations on geopolitical issues, let me know. I’d be glad to help!
I don’t have a question, I just wanted to say I’ve never listened to a podcast until yesterday, August 7, 2019 (I know I’m late to the game), but your podcast is the first and only one I’ve ever listened to and I’m now a HUGE fan. I am on a mission to get caught up with every single one of your episodes. Thanks guys.
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As of 08/25/2019 – The American Rig count is 1057 active rigs.
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