Tuesday, February 26, 2008
So, how come the peak all arise?
Actually, most oil company already produced their easy-extracted oil (shallow water field). It is easy to produce, to refine and the cost is cheaper. Then, the remaining oil is far away from the shore (deep water). It is more difficult to extract and very expensive to develop. Under these conditions, the rate of production inevitably drops. This is the point of the peak oil. Furthermore, all oil fields eventually reach a point where they become economically, and energetically, no longer viable. If it takes the energy of a barrel of oil to extract a barrel of oil, then further extraction is pointless, no matter what the price of oil. ...cont
Will The End of Oil Mean The End of America?
Saturday, February 23, 2008
Petroleum Engineers Get Top Dollar
February 21, 2008; Page B1
With energy prices soaring and oil-company ranks graying, petroleum-engineering graduates have become a hot commodity.
As a result, students are swelling the ranks of college engineering programs, positioning themselves for energy-industry jobs with salaries that make tenure-track professors envious. Top-ranking petroleum-engineering graduates this year can expect starting pay of $80,000 to $110,000, plus signing bonuses and other perks.
It is a sharp reversal from the 1990s, when students mulling career options recoiled from anything oily. Then, the memory was still fresh of the major oil bust in the mid-1980s, when the price of oil sank to $12 a barrel and tens of thousands of industry professionals lost their jobs. Between 1986 and 2000, the American petroleum industry slashed its work force 60%, according to a report by the Interstate Oil & Gas Compact Commiss
Now the industry faces another exodus -- what some call "the great crew change" -- as much of the work force approaches retirement. With oil prices booming, closing at a record $100.74 a barrel yesterday, energy stocks have fattene
d retirement accounts, tempting engineers and geoscientists to turn off their computers early to head for the golf course. (See related article.)
Oil companies recognized nearly a decade ago that they were confronting a potential work-force crisis as petroleum-engineering programs deflated across the nation. Enrollment cratered to 1,387 students nationwide in 1990 from a high of 11,014 students in 1983, according to data collected by Lloyd Heinze, a professor of petroleum engineering at Texas Tech University in Lubbock. For the next 14 years, enrollment remained under 2,000.
That led the industry to launch scholarship and training programs to lure students back to the energy fold. But in recent years, as oil-and-gas companies have sought to accommodate the world's rising thirst for oil and prices have soared they have become more desperate.
Nowadays, in the hotly competitive race to secure new engineering graduates, serious courtship begins with summer-internship programs, which identify promising students and pull them in to lucrative summer jobs as early as their freshman year.
Oklahoma City's Devon Energy Corp., which posted revenue of $11.4 billion for 2007, pays its summer interns as much as $32.50 an hour. And the students are assigned important jobs. One intern designed a $10 million project to increase production from an oil field in the Permian Basin that was approved and funded last year.
Devon continues to woo the students even after they go back to school, dispatching goody baskets with coffee and sweets during finals, says Frank Rudolph, Devon's senior vice president of human resources. "You go at them early and go at them often," he says.
As companies compete harder for each new graduating class, salary increases have almost matched the heady growth rates of oil prices. Graduates of Texas A&M University's top-ranked petroleum-engineering department received an average starting salary of $78,000 last year, up 33% in four years. Several students received signing bonuses exceeding $20,000, according to the university. And salaries have risen more this year. Texas Tech reports its 2008 graduating seniors will receive an average salary of $110,000, up 66% in four years.
Geologists, the people who study rock formations in search of oil, also have seen their starting salaries rise. According to the American Geologic Institute, the average starting salary for a geologist fresh out of school in the current academic year is $81,300, up 48% in five years from $55,000 in 2003.
When University of Texas student Bradley Barnum chose his major in 2004, oil prices had already leapt to the $40-to-$50-a-barrel range, ushering in a new era of profitability for oil companies.
"It was a good time to get into the oil industry," says Mr. Barnum, who will graduate in May and has already accepted a job with Chevron Corp. as a production engineer in Midland, Texas. He declined to give his specific salary but said normal offers are between $80,000 and $90,000.
As petroleum-engineering salaries rise, so does the coolness factor. Students are crowding into lecture halls to learn about oil-reservoir mechanics and well drilling. An online group for students heading into oil-related careers describes itself thus: "We make the world go round, while at the same time making some huge bank."
This academic year, there are 3,710 undergraduates nationwide pursuing petroleum-engineering degrees -- twice as many as four years ago and the highest level since 1986, according to Mr. Heinze's data. Enrollment is growing so fast that universities are facing a faculty shortage, Mr. Heinze says.
Some students say they are drawn to more than just the fat salaries. "There is a problem meeting future energy needs, and the petroleum industry will be a leader in figuring out solutions to our energy problems," says Andy Dewhurst, who is wrapping up his master's in geology before joining ConocoPhillips in April. "I'm not saying we are going to save the world, but it's fun to be part of solving real-world problems."
While happy with the turnaround in attitudes, oil companies want to make sure the engineering pipeline stays full. Last year, Exxon Mobil Corp. made the biggest philanthropic gift in its history: $125 million to launch a national initiative to encourage math-and-science education. And oil companies put up $200,500 to fund a new petroleum-exploration academy starting this fall at a science magnet high school in Houston. Students will receive laptops and be assigned industry mentors.
One advantage for the oil companies: Today's students are too young to remember the bad times. Mr. Barnum, the University of Texas student, was born in 1986, the same year the oil industry entered its steep downturn.
"I think for my foreseeable career it's going to be good," he says, though he does add, "I guess they say that every boom."
Thursday, February 21, 2008
Various: The US has successfully hit USA 193, a 3-ton out-of-control spy satellite that failed 1.5 days after its launch in December 2006. Earlier this week the US announced plans to destroy the satellite because of the risk to humans over the toxic fuel the satellite was carrying. In a press conference held after the collision, General James Cartwright, vice chairman of the Joint Chiefs of Staff, said that he was very confident that they had hit the satellite and that the hydrazine fuel tank was destroyed. "Thus far we've seen nothing larger than a football among the debris," he said. At least 552 pieces of the satellite have been spotted by amateur satellite watchers.
The decision to destroy the satellite has caused controversy within the public arms control community and by the Russian and Chinese governments, because of the low-risk associated with the public coming into contact with parts of the satellite. China is calling on the US to release more information about debris from the strike, and Russian diplomats are calling the incident a anti-satellite weapons test, a charge denied by US government officials. China tested its own anti-satellite weapon early last year, an action that was publicly protested by the US.
Earlier this week the US refused to discuss a proposed treaty by China and Russia to ban space-based anti-satellite weapons. According to Liu Jianchao, a Chinese foreign ministry spokesman, "The Chinese side is continuing to closely follow the US action, which may influence the security of outer space and may harm other countries." Bruce W. MacDonald and Charles D. Ferguson say that the action taken over USA 193, may lead to a new arms race.
Wednesday, February 20, 2008
Us broken satellite will be shot down. They is planning to blast off their satellite ( A spy satellite) in orbit out of the space by using Navy missile. It is a hottest news that i thought everyone should be concern. The reason to destroy the satellite maybe because it was broken and not work properly.
Regarding to the event, all aviators/mariners should clear the Pacific. So, be careful to people who live in Pacific area because the blasted satellite may leave the debris and toxic fuel that would be able to injure or event kill people if it reach to earth. Today is a day that the event is suppose to be launch. I pray to God hopes nobody hurt from this risky program. This is all about trying to reduce the danger to human beings.......
Known by its military designation US 193, the satellite was launched in December 2006. It lost power and its central computer failed almost immediately afterward, leaving it uncontrollable. It carried a sophisticated and secret imaging sensor.
Saturday, February 16, 2008
We want to see our Malaysia become a powerful country in the world and leading in all aspect included economy, politics and social through the provision of a long term goal (Wawasan 2020).
Back to our topic, Malaysian Oil Price I think, we have to find the way, on how to remove the oil' subsidy price without hurt low income people? (like me)...I need the suggestion and recommendation (not an argument)...
Do you know, who are responsible to set the market oil price? Some people though it is setting by OPEC. NO! Most pf the misconception about OPEC is the reorganization is responsible to setting the oil price. Actually, the global market is too complex and the price of crude oil is depends on the movement of three major international Petroleum Exchanges. They are the New York Mercantile Exchange (NYMEX, http://www.nymex.com), the International Petroleum Exchange in London (IPE, http://www.ipe.uk.com) and the Singapore International Monetary Exchange (SIMEX, http://www.simex.com.sg).
Friday, February 15, 2008
Fortunately, I've complete my form before i went to KL. I just need to print out and put my signature on that form.Is it save my time?..Absolutely not. I've to wait for my house mate. He still not complete his form. What such a looser this guy. ...I am tired and I m afraid we'd be late to submit the form, besides i am not sure when they closed for the submission. Maybe yesterday, because 15 Feb 2008 is a closed date for the application.
We arrived at Pejabat Pendaftar at 4.30pm. It is just nice because we noticed that the applicants still can submit the form before 5.00pm.
OOoohhhooo......What the ****. U see...there is so many form in the office...wah! I was shocked to see that. Feels like i got a very small chances to win the job.
When I see this, I swear, World is fair enough,but not people. How come some people easily get the job (similar position - RO) without through any form and interview....
That is my 5th job interview session. I've done four company before and still no good news to me. My first session is with Rabutec, is a service company in oil and gas sector. The conversation is smooth and i had delivered my answer carefully and fluent. The interviewer told that he saw the self-confidence on me. The requirement for that position is quite tough. Must be fluent in English as well as public speaking because, one of the task is to sell the drill bits for the company and also involve in upcoming drilling department.
Just tomorrow after interview with Rabutec, I have another session with Delcom. I am so interested with Delcom because of their business policy. They trained the qualified fresh graduate to be an executive. The appointment made at 2.30pm. I took LRT to Bangsar. The day was very hot. The sweat out of my clothes. When i arrived at the office, i need to wait about 30minutes because the interviewer had a meeting. At that time i am not feeling well and so tired. The interviewer is Malay, and very nice person. I though the interview will be more easy. Unfortunately, i become nervous and difficult to deliver my answer properly. I was so sad because that guy said i have no confidence and not prepare well about the company. Huh...
Monday, February 11, 2008
Staying motivated is a struggle — our drive is constantly assaulted by negative thoughts and anxiety about the future. Everyone faces doubt and depression. What separates the highly successful is the ability to keep moving forward.There is no simple solution for a lack of motivation. Even after beating it, the problem reappears at the first sign of failure. The key is understanding your thoughts and how they drive your emotions. By learning how to nurture motivating thoughts, neutralize negative ones, and focus on the task at hand, you can pull yourself out of a slump before it gains momentum
Guys, lets read this poem....
"When things go wrong as they sometimes will
When the road you're trudging seems all up hill.
When funds are low and the debts are high.
And you want to smile, but you have to sigh.
When care is pressing you down a bit.
Rest, if you must, but don't you quit.
Life is queer with its twists and turns.
As everyone of us sometimes learns.
And many a failure turns about
When he might have won had he stuck it out:
Don't give up though the pace seems slow -
You may succeed with another blow.
Success is failure turned inside out -
The silver tint of the clouds of doubt.
And you never can tell how close you are.
It may be near when it seems so far:
So stick to the fight when you're hardest hit
It's when things seem worst that you must not QUIT.