Oil Industry: Wanted: Engineers, Geologists

Elizabeth Souder’s intriguing article in The Dallas Morning News suggested that “This is a great time to look for a job in the oil industry.” She reports that the current high oil prices have and aging industry workforce have increased enrollment in petroleum engineering and geology programs.

Before applying to petrotechnical programs or sending resumes to oil companies, prospective industry employees would be well-advised to heed the advice of Lauren Welker who said that “her peers don’t base career choices on commodity markets.”

Dropping Dollar Prompts Basis Change

OPEC members, Iran and Venezuela, have recently called for changing the currency basis for crude oil from US dollars to Euros. What’s behind this move?

The following graph shows the FOB prices of OPEC crude oil in $/B and Euros/B.