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Energy industry - July 16

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OPEC Sees Modest 2008 Demand, More Oil Produced by Rivals

The Organization of the Petroleum Exporting Countries said on Monday that world oil demand in 2008 will grow moderately, while supply from rival producers will expand, reducing the need for crude from the exporter group.

The assessment, in OPEC's July Monthly Oil Market Report, underscores OPEC's view that crude supply is enough -- and that oil prices near a record high reflect a strain on refineries and other factors beyond its control.
(16 July 2007)

U.S. oil may hit $95 if OPEC does not hike output: Goldman

U.S. crude price could top $90 a barrel this autumn and hit $95 by the end of the year if OPEC keeps oil production capped at current levels, Goldman Sachs said in a report issued on Monday.

U.S. oil prices have risen to near $74 per barrel, driven this month by higher demand and lower supplies, the report said, pointed out that such fundamentals could tighten further unless key OPEC members hike output.
(16 July 2007)

Energy's Manpower Peak? - Why the biggest problem might not be oil.

Robert Bryce, Energy Tribune
For headhunters like Tom Zay, business couldn't be better. "I have never seen demand like this," says Zay, a managing director in the Houston office of Boyden, an executive worldwide search firm. "We've had cycles in the past. But this is different."

Indeed it is. While Zay looks for executives and top-level managers, the entire energy industry - from welders, tank builders, and roughnecks to petroleum engineers, nuclear engineers, and technicians - is strapped for talent. And the problems are likely to get substantially worse before they get better. Nor is the labor shortage limited to the U.S. and the hydrocarbon sector. Rather, it is worldwide, and being felt in industries ranging from coal mining to nuclear power. The reasons for the labor crunch are many: an aging workforce, lagging student interest in engineering, a lack of interest in blue-collar jobs like welding, and perhaps most important, the strong commodity prices that have led to a boom in energy projects of all types.

This article will survey a few of the sectors and geographic regions facing labor shortages.
(16 July 2007)

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