Oil drilling held up by an intangible

A couple of months ago, I posted a comment on the problems with trying to drill our way out of the energy problem. Yesterday’s Financial Times ran a story about another problem with that strategy — Warning over oil industry skills shortages:

A shortage of skilled engineers threatens to limit oil supply growth in the coming three to five years as companies struggle to develop complex new fields, the head of the world’s biggest oil services company has warned.

In other words, we don’t have the intangible assets needed to carry out the strategy. And frankly, if I were to concentrate resources on building up a human capital base in energy technology, I would focus those resources on developing new forms of energy resources, not on teaching the skills needed to continue the present course.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s