{"id":11487,"date":"2015-08-26T09:35:58","date_gmt":"2015-08-26T14:35:58","guid":{"rendered":"http:\/\/olduvai.ca\/?p=11487"},"modified":"2015-08-26T09:35:58","modified_gmt":"2015-08-26T14:35:58","slug":"the-real-long-term-threat-to-the-oil-gas-industry","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=11487","title":{"rendered":"The Real Long Term Threat To The Oil &#038; Gas Industry"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/The-Real-Long-Term-Threat-To-The-Oil-Gas-Industry.html\" target=\"_blank\">The Real Long Term Threat To The Oil &amp; Gas Industry<\/a><\/h3>\n<p>As oil prices continue their downward slide, most investors and firms are understandably eyeing prices, revenues, and exploration costs nervously. All that makes sense, as there is a good chance some oil firms will face liquidity crunches and restructuring over the next year. In the longer term though, there is another specter that could be equally damaging to O&amp;G firms \u2013 a shortage of skilled labor.<\/p>\n<p>During the 2008 Recession, many manufacturing firms cut way back on labor and costs everywhere they could, as demand plummeted and customers started asking for lower prices. Fast forward a few years though, and demand has returned. What has not returned are many of the skilled laborers that were instrumental to the manufacturing industry\u2019s success. Many of the industry\u2019s best workers moved on to other fields or retired in the intervening years since the Recession. As a result, manufactures complain frequently about a lack of available skilled labor. The same thing could happen in the O&amp;G industry.<\/p>\n<p><a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/UK-Determined-To-Realize-Its-Fracking-Dreams.html\"><strong>Related:\u00a0UK Determined To Realize Its Fracking Dreams<\/strong><\/a><\/p>\n<p>Oil and gas executives already\u00a0<a href=\"http:\/\/www.rigzone.com\/news\/oil_gas\/a\/138175\/Tackling_the_Skills_Shortage_Challenge_in_the_Oil_Gas_Industry\">lament<\/a>\u00a0the lack of proper training being done by colleges and universities for entry level employees. The exodus from the industry is only going to exacerbate that problem. Every field in the O&amp;G space from geologists on down, is seeing layoffs and cut-backs. In the short term, these actions might be unavoidable. But if the downturn continues for more than a year or so, many of these workers may move on to new fields. If that happens, the industry could find that those workers are lost for good.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Real Long Term Threat To The Oil &amp; Gas Industry As oil prices continue their downward slide, most investors and firms are understandably eyeing prices, revenues, and exploration costs nervously. All that makes sense, as there is a good chance some oil firms will face liquidity crunches and restructuring over the next year. In [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[8448,312,331,2660,1729,1775,5332],"class_list":["post-11487","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-cut-backs","tag-financial-crisis","tag-fracking","tag-layoffs","tag-oil-and-gas-industry","tag-oil-price-collapse","tag-oilprice-com"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11487"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11487\/revisions"}],"predecessor-version":[{"id":11488,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11487\/revisions\/11488"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}