Even as oil and gas companies post record profits, the industry is facing a worsening talent drought, The Wall Street Journal reports.
At U.S. colleges, the pool of new entrants for petroleum engineering programs has shrunk to its smallest size since before the fracking boom began more than a decade ago. European universities, which have historically provided many of the engineers for companies with operations across the Middle East and Asia, are seeing similar trends.
Students and high-skilled young workers are concerned about the industry’s role in climate change, as well as long-term job security given that global economies are transitioning away from fossil fuels to other energy sources, according to executives, analysts and professors.
The trend is a stark departure from previous cycles, when the industry’s workforce ebbed and flowed with the rise and fall of oil prices. Read the full story (subscription).