Despite a pandemic in February, work in the energy and technology sectors is improving.
Since February – when it hit 597,067 jobs in the sector – the energy and technology sector has increased another 42,200 jobs by August. Texas has a large number of these jobs. At the same time, the Organization of Petroleum Exporting Countries (OPEC) In 2022, it predicted that oil demand would be higher than pre-epidemic levels.
Tim Tarpley, senior vice president and adviser on government affairs at the Energy Human Resources and Technology Council, said the main reason for the increase is the number of jobs.
“There is a lot of recruitment going on,” he said. In fact, there is competition for employees in our companies.
Although employment rates are rising, Tarpley says there is still a shortage of workers in the industry, and some companies are hiring workers from distant states such as Dakota, Pennsylvania, and Ohio.
According to the Bureau of Labor Statistics (BLS), Texas has 314,000 employees and is the leading employer in the energy and technology sectors. The nearby state of Louisiana employs only 53,800 workers.
Competition with other industries outside the energy and technology sectors is helping to reduce unemployment, Tarpley said.
“Not everyone has returned,” he said. “Some are finding other jobs. There are other areas where wages are increased for other jobs, such as transportation, so there is competition outside the industry.
Employment standards are still lagging behind pre-epidemic levels, and oil production has particularly affected the low performance of oil field equipment and service companies, Tarpli said.
“Our companies are being cautious when they enter the market,” he said. “They don’t want to overdo the market, they respond to people carefully, wisely and a little bit.”
Due to an executive order from President Joe Biden, companies are wary of COVID-19 developments and control distrust, Tarpli said.
An executive order signed in January barred new oil and gas rents on federal land, but a federal judge ruled in June that they should not suspend them.
“Companies are a little hesitant to go out and hire a lot of people, and then they don’t know why they have to get a new lease,” he said. “It is our hope that the administration will begin to recover.”
According to OPEC’s monthly report, COVID-19 It is clouding global oil demand forecasts by 2021, but demand is expected to increase beyond the pre-COVID-19 levels by 2022.
In OPEC advertising, the main question is who will be motivated to meet the demand.
“Will it be the United States or will OPEC and Russia meet that demand?” he said.
With the growing demand in the United States, we have already seen an increase in Russian oil imports, Tarpli said.
Tarpli said the United States needs to be able to meet the 2022 demand for oil not only for economic reasons but also for environmental reasons.
He said oil and gas produced in the United States are cleaner and more efficient than anywhere else. If we make decisions that will allow our competitors to fill that void, it will probably be filled with clean and efficient oil and gas.
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