Annotated Bibliography: Effects Of The Oil Drop

How the drop in oil is affecting the people, especially petroleum engineers/undergraduate students

Annotated Bibliography

Brown, J.P. The Response of Employment to Changes in Oil and Gas Exploration and Drilling, Economic Review – Federal Reserve Bank of Kansas City; Second Quarter 2015, 57-81A.

The author of the article explores the impact of changes in the oil and gas exploration and drilling on the employment in the oil and gas industry. The researcher focuses the attention of the audience on the direct correlation between rise and falls in the oil and gas industries and changes in the labor market of the industry. The decline of the oil production inevitably leads to job cuts and decreasing demand on oil-related occupations. The author concludes that the possible decline in the oil production in the future will lead to the decline in the labor market because experts in the field of oil production and  related industries will not be needed by companies anymore because of the steady and inevitable reduction of oil resources.

Gillinghm, K., et al. Energy policy: The rebound effect is overplayed, Nature, 493, 2013, 475–476.

The authors critically evaluate the substantial rise of oil prices that occurred in the early 2010s. The authors explore and analyze conditions that determined  the growth of oil prices. At the same time, they uncover the substantial rise of demand on the labor force and the employment of professionals operating in the oil and related industries. The authors also reveal the fact that the growth in the oil industry and the expected growth may have a stimulating impact on the labor market since companies start to enhance their staff, recruit new employees and prepare for the growth of their production.

Herrera, M.A., et al. Where do jobs go when oil prices drop? Energy Economics, In press, 2016.

The authors of the article explore the dependence between the situation in the labor market in the oil industry and the decline of the oil price. In such a way, the researchers attempt to explore the overall impact of the saturation of the market with oil and its impact on the labor market. This study helps to understand the dynamic of the labor market in the time of the excess of oil. Therefore, it is possible to presuppose that the drop of the oil and the rise of oil price may increase the demand on occupations in the oil industry. At any rate, the researchers reveal the dependence between the change of the oil price, namely its decline, and job cuts in the oil industry since companies attempt to save their costs.

Kasperkevic, J. Why the oil industry could be a stain on economic recovery in US, The Guardian, 2016. Web. Accessed February 5, 2017 https://www.theguardian.com/business/2016/feb/07/oil-industry-stain-economic-recovery-barack-obama

The author conducts the analysis of the current situation in the oil industry and economy and its impact on jobs in the oil industry. The author reveals that the economy is still growing slowly or even contracting, while the oil industry experiences certain growth. Nevertheless, oil companies continue to cut jobs. Such revelations imply that even in case of the growth of production, there is the possibility of job cuts. In case of the drop in oil, job cuts are likely to be even more significant compared to the time of the growth in the oil industry, because the drop in oil means the reduction of production in the oil industry.

Ro, S. Big drop in American oil jobs, Business Insider, 2015. Web. Accessed February 5, 2017 http://www.businessinsider.com/oil-mining-jobs-fall-11000-2015-4

The author explores the problem of the drop of jobs in the oil industry while other industries manifest the growth of jobs. The author reveals that oil prices have a considerable impact on jobs in the industry. Companies attempt to save costs and keep cutting jobs. Therefore, the decline of the oil industry is likely to trigger the decline of jobs in the industry and the industry will not need new professionals. The dynamic of the oil industry does not always relate to the overall dynamic in the development of the economy.

Weinstein, L.A. Local Labor Market Restructuring in the Shale Boom, JRAP 44(1), 2014, 71-92.

The author of the article conducts the study of the impact of the shale boom on the oil industry and oil labor market. This study is important in terms of understanding how oil-related jobs may evolve along with the technology of the oil extraction and production. The study reveals the demand for new jobs in the shale oil industry, while traditional oil industry stumbles. This is why new technologies bring new jobs and set new requirements for training of professionals in the oil industry. Such findings help to forecast possible changes in the labor market of the oil industry in the future because new professionals should be flexible to adapt to work in different environment and introduce innovations and capable to learn.

Yusuf, Y.Y., et al. A relational study of supply chain agility, competitiveness and business performance in the oil and gas industry, International Journal of Production Economics, 147(b), 531-543.

The authors of the article conduct the study of the development of the oil industry and factors that influence its development. In this regard, the study reveals important trends in the labor market in the oil industry. The researchers argue that the growing competition and production leads to the growth of the demand on the labor force in the oil industry, whereas the shortage of oil supply leads to job cuts. Therefore, the drop in oil is likely to lead to job cuts.

Research Proposal

The research aims at exploring the impact of the drop in oil production on professionals employed in the industry as well as other people, such as students, who may be interested in oil industry-related jobs. The oil industry comprises an important part of the contemporary economy and employs millions of people worldwide as well as in the US. However, oil is a scarce resource and one day the Earth will run out of oil, while oil deposits will reduce steadily along with the consumption of oil by the world economy. In such a situation, the steady decline of the oil resources raises the problem of the impact of such decline on people. The study focuses on the revelation of effects of such  decline on people. A brief literature review reveals that consequences of the decline of the oil production do not always involve job cuts as well as the growth in the oil industry does not always create new jobs. Instead, the study suggests that the drop in oil production leads to changes in specialization of professionals working in the oil industry. New professionals have to be able to innovative activities and to flexible work that involves the adaptation to new methods of work and constant learning throughout the career in the oil industry.

Works Cited:

Brown, J.P. The Response of Employment to Changes in Oil and Gas Exploration and Drilling, Economic Review – Federal Reserve Bank of Kansas City; Second Quarter 2015, 57-81A. (LSU Library)

Gillinghm, K., et al. Energy policy: The rebound effect is overplayed, Nature, 493, 2013, 475–476. (LSU Library)

Herrera, M.A., et al. Where do jobs go when oil prices drop? Energy Economics, In press, 2016. (LSU Library)

Kasperkevic, J. Why the oil industry could be a stain on economic recovery in US, The Guardian. Web. Accessed February 5, 2017 https://www.theguardian.com/business/2016/feb/07/oil-industry-stain-economic-recovery-barack-obama

Ro, S. Big drop in American oil jobs, Business Insider, 2015. Web. Accessed February 5, 2017 http://www.businessinsider.com/oil-mining-jobs-fall-11000-2015-4

Weinstein, L.A. Local Labor Market Restructuring in the Shale Boom, JRAP 44(1), 2014, 71-92. (LSU Library)

Yusuf, Y.Y., et al. A relational study of supply chain agility, competitiveness and business performance in the oil and gas industry, International Journal of Production Economics, 147(b), 531-543.  (LSU Library)

The terms offer and acceptance. (2016, May 17). Retrieved from

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"The terms offer and acceptance." freeessays.club, 17 May 2016.

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freeessays.club (2016) The terms offer and acceptance [Online].
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"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 28, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 28, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 28, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 28, 2024]
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