So, this post was inspired by a conversation i had with a friend earlier.
Ok so you get, up and go to work every day. Do you know what your industry is saying or reading, do you know where your career is heading? I ask these basic questions, because even a blind man could tell you that in the last 2 years, the oil market has been far from sexy and the as the time passes, the less likely the industry is to bounce back. Even a blind man can see these signs with the oil companies in particular. Let me explain why (another list again).
1. Many of the regions where oil is drilled in the world are conflict riddled – so it threatens security in the product.
2. Any sensible nation will work on moving away from imported oil dependence on countries that fall into the category in number 1. Lets help put things in perspective – in 2012-2013 – the United States and China spent $101 billion and $125 billion respectively on clean energy.
3. The OPEC cartel is really not a cartel – its pretty much should be renamed “Saudi & Co”. I Say that because for long as producers refuse to control market stock, the market will be awash with product – so there is no incentive for the price to go up. There is oversupply in the market as the biggest players have refused to reduce their quota.
4. Saudi is one of the largest oil producers in the world, but they also own significant portions of many other industries – Financial services think the likes of Citibank. Their income isn’t exactly single streamed, so they aren’t feeling the pain caused by a drop in oil revenue as say for instance a country like Nigeria.
5. So the conclusion from all this is that countries and companies that are largely dependent on crude oil & petroleum products as a source of revenue have seen there incomes dwindle significantly. Your guess is as good as mine when income drops, what follows?
So why were the staff of some oil majors in Nigeria surprised they were let go off? We know oil majors are not investing in alternate energy in Nigeria, because they can do that in more conducive environments. They are here solely because of the crude oil, and the moment that crude oil is no longer profitable, they will pack their bags and ship out. I Don’t want to used the word sacked because it sounds mean. So you are contracting with the same oil major for 15 years, and the primary thing that pays your salary has been on a steady decline in the last 2 or so years, doesn’t it become a matter of time before your job is in Jeopardy? Why act surprised when it happens? I mean this is not a case of Enron where people where deceived and the surprised.
Or am I reaching here? With the rate at which the world is going, some industries might be extinct or insignificant in the next 50 years, i dare say oil and gas is high on that list. Do you know which way the wind is blowing in your profession? Or are you still on a typewriter when your industry peers have graduated to using their phones in presentations?
What are you doing? Is it benefiting you? Are you waiting to get the Proverbial Rolex after 30 years of working? Is that company going to survive 30 years at the rate at which it is going? Is the company innovative? Are you one of the innovators? What is your significance to the organization you work in? All human beings are disposable, but how disposable are you? Are you able to stay abreast of your industry and profession? If yes how do you do so? Kindly share as some of us stand to learn a thing or two so we don’t end up as part of the “shock and awe” campaign.
In Life three things are certain – Birth, taxes and death. All else is what it is – life – a gamble mostly if you ask me.