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The pandemic made 107,000 oil and gas jobs disappear. Most aren’t coming back anytime soon

The oil and gas industry is laying off workers at an unprecedented pace to cope with a pandemic that crashed energy prices and raised doubts about the future of fossil fuels.

A staggering 107,000 jobs vanished from the US oil, gas and chemicals industry between March and August 2020, according to an analysis published this week by Deloitte. That’s the fastest rate of layoffs in the industry’s history — and it doesn’t even include the untold number of people on furlough or taking pay cuts.
The vast majority of those energy jobs are unlikely to return anytime soon.

Even if US oil prices stay at $45 a barrel until the end of 2021, 70% of the jobs lost during the pandemic in the oil, gas and chemicals industry may not come back by the end of next year, the Deloitte analysis found. Read more via CNNBusiness

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

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