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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (27851)	4/19/2005 1:01:27 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

I do not think I will be offending you Tommaso if I ask what pray tell is special about sugar? Did they stop growing it? Is there a new "sugar beetle" destroying the crops. It's been down so long it cant possibly stay down? Are we destroying all of the world's sugar plantations somehow? What? Mish

To: Tommaso who wrote (27851)	4/19/2005 1:08:44 PM
From: mishedlo	Respond to of 116555

Study finds ´brain drain´ in oil and gas industry Tuesday, April 19, 2005 4:44:09 PM afxpress.com Study finds 'brain drain' in oil and gas industry DALLAS (AFX) - The oil and gas industry, riding high on record oil and gas prices and cash flow, saw the number of its employees decline for the 20th time in 23 years, a study by John. S. Herold revealed. The research firm said its analysis found that employment by the largest U.S. oil and gas companies fell 4.1% in 2004 The top 25 companies tracked by Herold eliminated 120,000 jobs since 1999. The industry lost more than 21,000 jobs in 2004 to total a little more than 514,000. Since the 1981 oil price peak, the largest oil companies have shed more than 1.11 million employees, the Herold study said "The oil industry faces a Herculean task in overcoming its reputation for brutal treatment of professionals during the past two decades of downsizing," said Herold Chairman & CEO Arthur Smith, in a statement. "Our finding suggests that unless oil and gas companies take drastic steps to reverse the 'brain drain' of the energy industry, a severe personnel crunch is preordained." Given that the major oil companies are struggling to replace production and thus boost reserves, Smith said he wondered if the companies have time to rectify their mistakes The U.S. Department of Labor's job outlook, cited by Herold, anticipates that oil and gas employment will have declined by 28% in 2012 compared with 2002. The number of domestic jobs is expected to fall to 89,000 positions in 2012 from 123,000 "Can you blame a petroleum engineer who graduated in the mid-1980s -- bruised and battered over the years by layoffs and endless job searches -- from dissuading his children from entering the oil patch now despite the current good times?" Aliza Fan, co-author of the Herold study asked Nevertheless, Herold sees good growth prospects ahead for oil and gas employees, while recognizing that companies need to find ways to cut costs and increase productivity through technology Since 1994, productivity per oil company employee has grown at an average annual compound rate of 10.6% since 1994 Herold cited Exxon Mobil Corp. as one company that's learned how to effectively get the most out of fewer employees. The study found that Exxon Mobil's EBITDA per employee rose 12.3% over 10 years, which translated into $444,000 per employee last year Though the study found that general enrollment in geology, geophysics and petroleum engineering at the Colorado School of Mines is down 44% since 1986, Herold sees the January announcement from the Royal Dutch/Shell Group that it would hire 1,000 petroleum engineers as one positive sign. Another is that entry-level geologists earn, on average, $65,600 per year, which is up 24% since 1999