Oil and its byproducts – fuel, diesel and gasoline – are now considered precious commodities. In fact, other basic commodities like rice and milk prices are hugely dependent from price increases of fuel products as manufacturing and transportation expenses of basic needs rely heavily on fuel too.
Most oil reserves are heavily concentrated in the Middle East, especially in Saudi Arabia. With the peace and order situation weighing heavily in the Middle East, most countries are now on the lookout for alternative oil reserve locations and even invest in research for alternative fuel products.
Modern oil industry companies like marcellus shale (USA), Diamond Offshore (Houston, USA), Dolphin Drilling (Tananger, Norway), and Frigstad Offshore (Singapore) invested in new drilling techniques and technologies. They build new oil rigs for deep-ocean drilling.
Located in the northeastern U.S., the Marcellus Shale has brought substantial industry interest to New York and Pennsylvania. With total recoverable reserve estimates in the trillions, the area has seen quite a good amount of drilling activity.
The energy industry spans a wide variety of skill levels, from entry level lease-hand jobs on a land based oil rig to top level consultants and commodity traders. Working in oil fields can require a 4-year Master’s degree or a high school education and experience working in construction. Entry-level jobs in the oil industry are tough, dirty and would require you to work long hours and most oftentimes in extreme weather conditions, heavy lifting and hauling, and a lot of overtime work. However, if you have the desire and drive, you can quickly excel at those entry-level oil jobs and be promoted fast to more high-paying jobs on the right track to becoming a rig manager!