BP Oil Spill Gulf Disaster
The BP oil spill in the Gulf of Mexico, is, no doubt, a major disaster. Despite all the bad press and sad images of oil covered birds, BP will continue to provide petroleum jobs.
Bayport Container Facility
Photo courtesy of Port of Houston Authority
BP Oil Spill Creates Jobs
Every major oil spill creates petroleum jobs. Immediately, jobs are created to clean up and contain the mess. Salvage of the sunken deep water drilling rig will create more jobs. As demand for oil remains high, oil workers will be employed on other drilling platforms globally.
The US moratorium on offshore drilling will temporarily reduce the jobs market. Already, offshore drilling and production crews have been idled. However, this situation is temporary. Politicians will hammer out deals and shallow water activities will resume soon. The BP spill will relinquish those petroleum jobs in short order.
Lower Supply = Petroleum Jobs
Losing any high-producing well from an oil spill causes a slight dip in supply. Halting exploration for the entire US makes a big dent in supply. Other countries will take up the slack. When oil supply drops, the supply of petroleum jobs increases. The BP oil spill will increase the availability of petroleum jobs overseas to make up for the loss of supply.
Longer term, increased safety requirements on offshore oil drilling will increase activity in other forms of oil development. Canadian tar sands are already in production and will grow. Drilling will expand in South America and Asia.
And don't forget about renewable energy. Oil company teams around the globe are acquiring green energy companies and developing programs in solar, wind and ocean currents. They won't be traditional petroleum jobs, but they will be oil company jobs - all because of the BP oil spill Gulf disaster.