Oilprice.com recently published a rather ominous article headlined “Oil Industry Faces Imminent Talent Crisis.” That headline was prompted by a survey by an energy recruitment company that found nearly half of the exploration and production firms that responded were “either quite worried or very worried about an impending talent crisis.”

The concern can be traced to a harsh reality with regard to millennials and their general attitudes toward the oil and gas industry: Young people believe we are quickly transitioning away from fossil fuels and that the future of the industry is bleak. As a result, fewer young people are pursuing oil and gas industry careers. But the facts simply do not support the impetus for this trend.

Oil and natural gas consumption is projected to increase by more than 20 percent over the next 30 years, which explains why oil and natural gas careers are not only in high demand – but pay twice the private sector average salary.

Here are some facts that young people entering the workforce should consider:

• The average oil and natural gas industry salary was $112,712 in 2018.
• Three of the top six highest paying majors are directly tied to the oil and gas industry.
• The top 10 highest starting salaries are in occupations directly or indirectly tied to oil and gas.
• The oil and gas extraction industry was the fastest growing sector in 2018.
• The U.S. oil and gas industry supports more than 10 million American jobs.
• There are more than 75 different careers in the oil and gas industry.

Contrary to popular public perception, the future of oil and natural gas careers is very bright. Check out IPRB’s new Oil and Natural Gas Careers “By the Numbers” infographic for more facts on oil and natural gas careers.