American Petroleum Institute President and CEO Jack Gerard recently released a new report by IHS Global Insight showing the oil and natural gas industry is in a strong position to expand its workforce with minority employees.
“The industry has a great story to tell, polls show that job creation is a top priority for Americans, and the oil and natural gas industry will be a key driver for those new jobs for all Americans,” Gerard said. “Research shows that half of our industry will turn over in the next seven to 10 years, and with the expansion of shale energy and other oil and natural gas development, we have an unprecedented opportunity for job growth across the country that will benefit Americans from every community.”
The new IHS study, API Employment Outlook for African Americans and Latinos in the Upstream Oil and Natural Gas Industry, analyzes the employment outlook for African American and Latino workers based, in part, on a recent Wood Mackenzie study.
Among the IHS study’s findings:
- With the right policies, 166,000 of the new oil and natural gas jobs created by 2020 could be expected to be held by African American and Latino workers. That would be 31 percent of the projected 525,000 new job opportunities.
- By 2030, that number could jump to more than 285,000 (35 percent of the projected 811,000 new job opportunities).
- More than 50 percent of all jobs created would be high-paying skilled and semi-skilled blue collar jobs with a significant range of opportunities at the scientific/managerial level, e.g., petroleum engineers, most of which require a college degree.
- Over half of the job growth, 417,000 jobs, is expected in the Gulf region. The East region is expected to contribute nearly 140,000 job opportunities and the Rockies region nearly 116,000 job opportunities. The West, Alaska, and Central regions will combine to contribute approximately 138,000 job opportunities.
“This study highlights the great opportunities that exist in America’s oil and natural gas industry for African Americans and Latinos,” said American Association of Blacks in Energy President and CEO Arnetta McRae. “All Americans should know that this industry presents job security and opportunity for advancement unmatched by most others.”
Workforce training is a key factor for employment in the oil and natural gas industry. African Americans and Latino Americans represent an important talent pool to help meet the demands of the projected growth described by this study. Education in business, finance, science, technology, engineering, and mathematics will prove vital in achieving this growth.
“Partnerships between the oil and natural gas industry and educational institutions could yield astounding results,” said Congressional Hispanic Caucus Institute President and CEO Esther Aguilera. “These findings suggest a great employment future for Americans, and especially for Hispanics and African Americans, for decades to come.”