11-07-04

The shortage of oil field workers -- both professional and field hands -- will get worse within the next decade unless the trends reverses, according to one of the leading oil and gas experts in Texas.

Texas Railroad Commission Charles Matthews, the ranking member of the agency that regulates in oil and gas industry in Texas, told a crowd of about 400 people in Fort Worth on June 29 that the crises of the last 20 years has cost the industry about 500,000 jobs. He also noted in 1990 the RRC has 16,600 operators of record, compared to 6,000 today.

The baby boomers who remain in the oil and gas industry will be eligible for retirement within five to 10 years, creating even more pressure on the employment situation in the oil patch.

Matthews said 40 % of the technical people in the oil and gas industry will be eligible for retirement within four years, and the universities do not have enough students to replace them.

Source: MyWestTexas.com