Recently, ExxonMobil Development Co.’s L.M. Tillman addressed a gathering at the Offshore Technology Conference on the subject of energy industry employment. Tillman, vice president of engineering, said that economic growth in the developing world will drive the demand for energy and with it, the demand for energy workers. Here’s a follow-up Q&A with Mr. Tillman on energy employment, opportunities for younger workers and industry’s efforts to secure the next generation of workers.

Q: Where are the best opportunities to work in the industry, and what kind of skill sets are needed to land jobs and advance rapidly?

A: For the industry to be able to meet the energy challenge, it needs engineers and scientists who can push technology and innovation, analyze problems and develop creative s... more »

For a better understanding of oil and natural gas industry earnings, take a look at a pair of blog posts by ExxonMobil’s Ken Cohen (here and here), effectively countering criticisms of  the company’s earnings by those who also call for new energy taxes.

Earnings:

• 2011 global earnings: $41 billion.
• 2011 global revenues: $486.4 billion – from which costs (about $413.1 billion) and global income taxes (about $31 billion) are subtracted, leaving about $41 billion.

Perspective: Though ExxonMobil’s earnings are large, it earned only about 8.5 cents for every dollar of global revenue, which is less than half the earnings per dollar of sales for companies selling smart phones, computers, beverages and other commodities.

Taxes:

• 2011 U.S. tax expenses: $12.3 billion

Perspec... more »

So, just how do we get to energy security - to the point where, by 2030, 92 percent of America's liquid fuel needs is supplied by a combination of U.S. and Canadian sources? Here's how.

Start with where we are now. According to the Energy Information Administration (EIA), the United States uses slightly more than 19 million barrels per day (mb/d) in liquid fuels - including oil, heating oil, diesel and biofuels. Of that total, 8.5 mb/d (45 percent) comes from U.S. sources, 2.33 mb/d (12 percent) from Canada and 7.2 mb/d (38 percent) from the rest of the world. Biofuels account for about 1 mb/d (5 percent).

With the right policies, by 2030 the U.S. can account for 62 percent of its liquid fuel needs and Canada 16 percent. Add in the EIA's projection that biofuels will grow to 14 percent, a... more »

How big is the Gulf of Mexico oil find announced last week by Exxon Mobil? BIG. As in a projected 700 million barrels and as Houston-based industry analyst John White reminds us: "Seven hundred million barrels doesn't happen very often...That's a lot of oil."

Yes, and it's also a spectacular illustration of what can happen when the energy industry is allowed to search for and develop American resources - in this case a reservoir of oil more than a mile underwater, in Exxon's Keathley Canyon blocks, about 250 miles southwest of New Orleans. The discovering well is one of only 15 new wells allowed by the federal government since a moratorium on deepwater drilling was lifted in October.

Finds like Exxon's Keathley Canyon, Shell's Cardamom field (estimated 140 million barrels) and others, on a... more »

One senator called it a dog-and-pony show - and even produced a funny photo for illustrative effect. But last week's Senate Finance Committee hearing with top executives of America's top 5 oil companies - ExxonMobil, Chevron, ConocoPhillips, Shell and BP America - was anything but a frivolous sideshow act. Before it was over two distinct visions for the country's energy and economic future were clearer. The contrast will be center-stage in Congress today when the full Senate is scheduled to consider legislation that would raise taxes on oil and natural gas companies.

Backers of a proposal to end several tax deductions for the five energy companies, some that are available to all U.S. businesses, see no problem with raising taxes on successful companies. They've justified the push as: a) a... more »