Lars Larsson | Schneider Electric
For decades, midstream energy companies have wallowed behind giant oil and gas producers in market value. This won’t be the case for much longer, according to the international accounting firm Deloitte. Midstream energy companies’ share of overall market value in the oil and gas industry has already risen, nearly tripling over the last six years.
Midstream operators are becoming the stars of the energy industry, investing $26 billion on new pipelines and facilities in 2012 – a drastic increase from the seven billion spent just six years earlier.
In The Headlines
Sustaining the recent surge in North American production of oil and gas is dependent on how the industry balances growing demand against already strained resources. This pressure will increase as companies struggle to bridge the ever-expanding skills gap in the labor market. The increase in production and the wave of retirements expected in the sector will create 500,000 to 1 million new energy-related job vacancies over the next 10 years. With a shrinking pool of experienced applicants and power consumption in the United States expected to increase, oil and gas companies are competing in a high-stakes race to find the best employees to meet these demands.
Topic of Discussion
Stepping Up to the Challenge: How Local Communities in the Utica Shale Play are Taking Advantage of the Boom
Zack Space | Vorys Advisors
By now, all of us have heard about the far-reaching effect that shale fracking has had on our national energy policy. What is less clear is its impact on the many rural communities around the country that overlie the oil and gas-rich shale. Many of these areas have seen the shale boom as a sort of saving grace: one that promises good jobs and prosperity in regions where high poverty and unemployment have lingered for generations. Conversely, many shale communities are discovering that the shale boom is not without its challenges.