What to Read
Daniel Yergin
When Daniel Yergin talks (or writes), you should listen. If you aren’t familiar, Yergin has written every seminal book on the oil and gas industry. The Prize is required reading if you’re looking to get in, and his more recent update, The New Map, is a fascinating look at the energy world today (at least as of 2020).
His recent piece in Foreign Affiairs titled The Troubled Energy Transition outlines how fossil fuels are going to be in the energy mix for decades to come.
BP Shifts
BP has had a rough go of it. It’s early and aggressive shift towards renewables (relative to other oil majors), has left it lagging its peers on earnings, share buybacks, and dividends – which means angry investors.
This week, BP’s CEO highlighted its latest new strategy – all in on oil and gas.
Where’s the Crude
A much-discussed theme recently is that American refiners are highly-reliant on foreign oil (especially Canadian) despite our oil production prowess. This is because they were built before the shale revolution, and prefer heavy grades to the light-sweet coming out of the Permian.
This week, Trump shut off another source of oil by revoking Chevron’s license to produce oil in Venezuela. Approximately 270,000 bpd of the stuff head to the Gulf Coast refinery complex.
In the Markets
Oil Prices -0.5%
Oil prices ended the week about .5% lower, but gravitated back towards $70.
It’s Internship Season
I’ll admit, I wasn’t quite ready for this one. But if you’re thinking of getting an internship this summer this is your wake up call!
Competition is going to be tough. In this case, its a position at a utility, but clearly the candidates will be coming from the business school.
Sounds like a job for Power 101.
Energy Job Boards:
Be sure to check out these energy-focused job boards:
Energy Hire
Energy Jobline
Get Into Energy
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