Thursday AM May 27th, 2010

A survey of energy executives finds an industry focused on strengthening the workforce, preparing for economic recovery and developing unconventional resources. Ed Mayberry reports.

Jamie Ferguson with Maxwell Drummond International says recovery has been slower than respondents predicted a year ago.

"Smaller companies with, you know, a market cap of $500 million or below felt that full economic recovery was about 12 months away.  Companies with market cap beyond the $500 million mark felt economic recovery was only about three to six months away.  And that's been reflected in the activity that Maxwell Drummond have seen in terms of companies making sure they secure the best people out there and available to them before the war for talent really starts when the industry is at full-steam ahead."    

Most respondents say their company has been able to take advantage of the recession to better position them for the recovery.

"The companies have seen an opportunity throughout the recession there to really look at the competency of the individuals that they have currently employed in their organizations, and really spend that money to develop those individuals whilst being out, going to the market and looking at upgrading talent in some areas.  To really invest in that human capital, make sure they retain the best-quality people whilst looking at areas of weakness and updating skills in those areas."

The survey finds that most energy executives believe oil and unconventional sources of gas will continue to dominate the energy mix over the next five to ten years.  In the next 15 years, alternative, renewable and nuclear sources are expected to significantly increase.

Bio photo of Ed Mayberry

Ed Mayberry

Local Anchor, All Things Considered

Ed Mayberry has worked in radio since 1971, with many of those years spent on the rock 'n' roll disc jockey side of the business...