skyline
Well-known member
ETF":29iskt4t said:Things will cycle back, although it's hard to see when that will be. While I was in school in the late 70s and early 80s, the petroleum industry was red hot. Brand new chemical engineering graduates were averaging 10+ job offers. Recruiters were calling people at home and roaming the halls to try to sign people up. The bottom started falling out in 1982. All but a couple of people in the class that graduated the semester before me had a single job offer. When I graduated in the spring of 1983, one person in my class of 13 had a job and it was worse for people actually working in the petroleum industry. A lot of them ended up in Florida looking for a job, any job, just so maybe they could make their mortgage payment. By all means they should take the money while it's there, but they better be putting a fair amount aside for the downturn. Boom and bust has always been the name of that game.
My college roommate was a petroleum engineering major. When we were in high school, the Pet.E's were getting the best job offers by far. By the time we graduated from college in 1984.... He wallpapered his bedroom walls with flush letters. He finally wound up getting a job on a workover rig in order to get some experience. After a year, he went into materials stress, strain, etc... working for the aerospace industry. You're right, make hay while the sun is shining in the petroleum business!