You can call our office on +44 (0) 1502 564892 or email regular articles and news of latest job opportunities, follow us on Facebook and Twitter.Over the last several weeks, anti-fracking protestors from around the country have flocked to Colorado to gather signatures for controversial ballot Initiative 97. If you would like to talk to us in our role as recruitment specialists, please don’t hesitate to get in touch. In 2016 the US solar workforce grew by 25% and wind by 32%, and with Europe and China massively increasing the provision of wind and solar, the industry looks set to be on the brink of a shift in focus.Īt People with Energy, we find the best candidates for vacant positions advertised by our partners in commerce and industry. However, the market changes faster than government agenda, and the improvements in renewables and storage mean the sector is growing rapidly. Many are now calling for the government to increase regulation on the industry, but opposition is fierce and the business-friendly US Congress has been quick to refuse any blame for climate change on the oil sector. The gross irony of the refineries that contribute so heavily to global warming falling victim to it is leading to greater examination of our obsession with oil. There were stark warnings predicted about the potential of a storm hitting Texas, and many experts in the field have spoken since to say that climate change has “exacerbated and worsened the impact of Hurricane Harvey”. OPEC members Saudi Arabia, Venezuela and Iraq are among the largest suppliers of imported barrels for the US refiners.” Therefore, it seems that if, the US refiners are not able to bring refinery utilization back up to pre-Harvey levels relatively soon, there could be a significant shift in trade flows. It is key to realize that a temporary reduction of US refining capacity does not imply a shortage of global energy. “The longer the US refiners are unable to produce adequate product for export, the tighter the markets will get for central and South America, who will be looking for supply from other global refiners. Suzanne Minter of S&P Global Platts offers this analysis:
The disruption to the Gulf Coast means longer term logistical concerns may lead to the Atlantic coast having to import more finished products from European refiners. However, the global impact of the storm is starting to be felt in the energy sector beyond Texas. Major pipelines that transport oil to the East Coast of America and to Mexico have been severely impacted, but the gradual reopening of ports this week means that shortages shouldn’t be a worry on a grander scale. The controversial method could face further consternation as questions around the profitability of fracking increases with price of oil and lowered productivity. As much as 10% of US fracking work could be delayed, as the dirt roads that access the oilfields are inaccessible to workers, lorries and supplies. XTO, Eagle Ford and Chesapeake Energy suspended operations and economists will be watching to see how the companies recover from the storm. Harvey has been the first storm to affect shale and fracking operations in the US since the practice started around a decade ago.
However, the price of refined products such as gasoline is rising and world’s largest consumer of oil may have to begin importing to keep up with demand. Whilst in the short term there are no fears of crude oil shortages, a large oversupply before the storm hit and the closure of refineries means that the price is falling. After Hurricane Katrina in 2005, some sites were offline for ten months. Floodwaters that may have impacted pumps can be dangerous to restarting operations, BP’s Houston campus may be out of use until December. At least a third of US refining capacity has been flooded, and the return to production will be a slow and testing period. This week oil refineries, pipelines and port operations have slowly begun to restart. The five largest oil refineries in the US are on the Texas and Louisiana Gulf Coast, the country’s oil heartland, as such the energy sector is a major employer in Houston and Texas. The repercussions to peoples working lives, especially in the oil industry, are still unknown. This week, people begin returning to work and school, adding a surreal sense of normality to the flooded streets. The implications and consequences of the tragic storm will be felt for months and years to come.
The scale of the storm has been unfathomable, with 2 million people forced from their homes, a rising fatality count and an economic cost that has been estimated at 190 billion dollars. The devastating destruction caused by Hurricane Harvey dominated headlines when it hit Texas in August.
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