In recent years, the oil and gas industry has come under fire for its impact on the environment. This has led to increasing pressure from environmental activists and the public on the workers serving in this sector. However, it’s important to recognise that the oil and gas industry is still a vital part of our economy, providing jobs and energy to millions of people around the world.
If you’re considering a career in the oil and gas industry, there’s no need to feel ashamed. In fact, there are plenty of great opportunities available for those with the right skills and qualifications. From engineers and geologists to accountants and lawyers, there’s a wide range of jobs available in this sector.
Of course, it’s important to acknowledge the environmental impact of the industry and to work towards finding more sustainable solutions. But this doesn’t mean that we should demonise those who work in the sector or discourage others from pursuing careers in this field.
For those already working in the industry, there’s no need to feel ashamed either. Many of these workers are doing important and valuable work, helping to ensure that we have access to the energy we need to power our lives. Instead of attacking these workers, we should be supporting them in finding ways to minimise the environmental impact of their work.
The oil and gas industry has been a significant contributor to the Australian economy for many decades, providing employment opportunities and economic benefits to communities across the country. Despite concerns about the long-term sustainability of the industry and the impact of climate change, there is still a strong case to be made for the ongoing importance of the oil and gas sector in Australia’s energy mix.
While it’s essential to reduce the negative impact of the oil and gas industry on the environment, a sudden exodus of employees would have severe consequences for the global economy and the livelihoods of millions of people. Instead, efforts should be made to transition to cleaner energy sources gradually and support the workers in the oil and gas sector to move to alternative employment opportunities.
One of the most compelling reasons for young people to consider a career in the oil and gas industry is the sheer number of jobs that the sector supports. According to the Australian Petroleum Production and Exploration Association (APPEA), the industry supports around 24,000 direct jobs in Australia, with an additional 79,000 jobs indirectly supported through the industry’s supply chain.
It’s also worth noting that the oil and gas industry is expected to continue to play an important role in the global energy mix for decades to come. According to the International Energy Agency (IEA), oil and gas are expected to account for around 46 per cent of global energy demand in 2040.
Of course, this doesn’t mean that the shift towards renewable energy isn’t happening. In fact, the clean energy sector is growing rapidly both globally and in Australia. Looking to the future, the 2021 Clean Energy Australia report projects that employment in the renewable energy sector in Australia will increase to approximately 44,000 by 2030 and around 59,000 by 2040.
According to the latest Renewable Energy and Jobs – Annual Review 2021 by IRENA, the renewable energy sector employed approximately 12.5 million people worldwide in 2020, which is an increase of 5 per cent compared to the previous year. The report also highlights that the COVID-19 pandemic had a significant impact on the renewable energy industry, leading to a loss of around 500,000 jobs in 2020. However, the industry has shown resilience and is expected to recover and continue to grow in the coming years.
Despite the growth of the clean energy sector, there is still a significant role for the oil and gas industry in Australia and globally. The skills and experience gained in the oil and gas industry can be highly transferable to other industries, including clean energy, providing opportunities for workers to transition to new industries as the global energy mix evolves.
One of the advantages of pursuing a career in the oil and gas industry is the potential for higher salaries compared to other industries. According to the latest available data from the International Labour Organization (ILO), the average monthly earnings for workers in the oil and gas industry in Australia is AU$9,352, which is significantly higher than the national average monthly earnings of AU$5,156 for all industries combined.
Globally, the oil and gas industry is known for offering high salaries to its employees, particularly those with specialised skills and experience. According to a report by the Boston Consulting Group (BCG), the median annual salary for workers in the global oil and gas industry is approximately US$80,000, which is higher than the median annual salary of USD $54,000 for all industries combined.
For young people considering a career in the oil and gas industry, these higher salaries can be a motivating factor. However, it’s also worth noting that pursuing a career in the industry can offer many other benefits beyond just financial compensation. The industry offers opportunities for growth and development, the chance to work on complex and challenging projects, and the ability to make a meaningful impact on global energy security.
Note; It’s important to know that the forecasts are subject to change based on a variety of factors, such as technological advancements, changes in consumer behaviour, and government policies related to climate change and sustainability.
References:
Australian Petroleum Production and Exploration Association (APPEA): https://www.appea.com.au/
International Energy Agency (IEA): https://www.iea.org/
International Renewable Energy Agency (IRENA): https://www.irena.org/
International Labour Organization (ILO): https://www.ilo.org/global/lang–en/index.htm
Boston Consulting Group (BCG): https://www.bcg.com/
