Howdy Friends & Neighbors,
The energy industry is an unprecedented time in history where innovation has led the way to a future of energy abundance while global energy production continues to drop dramatically in the face of lowering demand. As a result, the exploration, development and production of new oil and gas resources has shifted away from increasingly challenging sites to focus on more conventional lower cost, lower risk projects. With revenues plunging rapidly, the smaller companies are facing survival in the face of an industry-wide consolidation and massive layoffs. Finding and keeping experienced personnel is only getting more difficult.
Despite increasing demand for crude, the oil and gas industry will be inhibited in reaching its full potential for value creation unless it can solve its dilemmas regarding human capital and resources. Closing the labor and skills gaps represents one of the industry’s major—if not the primary—factors in sustaining growth and maximizing profitability against a tide of rising capital and operating costs. Because finding and development requires high-cost labor throughout the value chain under the industry’s current model for deploying human capital, the sustained trend of capital expansion will require substantial increases in field operations and engineering expertise.
The mission of the Foundation For Energy Education is a clear and very present one where we are integrating with other organizations such as the Offshore Energy Center MOLU program, Independent Petroleum Association Of America, Energy Institute High School of Houston that will continue to accelerate these mandates in an effort to bring community and industry together to build the energy industry of tomorrow.
The work we do at the Foundation is critical so that school children can learn how important the oil and gas industry is for jobs, national security, as well as powering our society. We are thrilled with the industry’s response to the Foundation and are looking forward to 2016 and beyond.
On behalf of the Foundation Of Energy Education,
David L. (Dave) Bole, Chairman