Oversupply of Petroleum engineering graduates.
Lack of jobs/Internships for graduates/Petroleum Majors.
Students have been deceived into believing that Demand>Supply.
Let the truth be told Supply>>>Demand and it will continue this way in the next 10 years.</p>
<p>Excerpts from the article you posted:</p>
<p>Scaling back on new-graduate recruiting in 2010 could lead to a permanent loss of this talent as well as chill the interest of future engineering students in pursuing careers in the oil and gas industry.</p>
<p>As a result, the number of jobs being offered to graduates is being reduced just as the pool of resources has been enlarged. In 2009, more than 90 percent of petroleum engineering graduates from U.S. schools were offered jobs or went to graduate school. However, according to feedback from the college department heads, the approximately 50 oil and gas companies that recruited on campus in 2008-09 estimate they will hire only about 70 percent of available graduates this year, which will lead to about 300 graduates left without jobs.</p>
<p>The recession will end, and energy demand will rebound. The baby boomers in the industry will retire, and the forecast big crew change will occur. The lessons of the 1990s should not be forgotten. There is a significant downside to not taking advantage of this opportunity to recruit the expanded class of new graduates in 2010 and the next several years: the potential loss of these engineering graduates to other industries.
<p>Every major is going to suffer given the current economic environment, granted some will get hit harder than others, but ALL will be affected in some way. That is the nature of a recession. I wouldn't get too worried about the long term prospects of any one major, well maybe computer programming, but we will require petroleum engineers for the foreseeable future, regardless of what Obama and his cronies would have you believe cars will still run on gasoline in ten years. Therefore there will be petroleum engineering jobs.</p>
<p>Those that were not hired were likely not hired because they were underqualified for the job compared to the rest of the applicants. It is very much possible that those not hired had a very low gpa and not much research or internship experience.</p>
<p>The conclusion I would draw from that article is that somewhere between 2013-2017 is going to be a very lucrative time to be a petroleum engineering graduate.</p>
<p>Well if you look up the gov stats, the projection of growth is the lowest and the current number of engineers are also one of the lowest.</p>