America is desperately looking out for areas which can generate more jobs and therefore reduce unemployment. Many sectors seem to be generating miniscule amount of jobs but it is definitely not enough. But with the announcement of the profits of the oil industry there was another surprise. They have announced that they are creating more jobs for America. In any case they claim that they are the biggest job producers with one in ten ratios of jobs where out of every ten jobs one is the oil industry. The oil industry has announced openly that it will create at least one million more jobs in the coming few years provided it gets what it wants. The oil industry is demanding independence of drilling wherever it wants if it thinks that there is oil availability in that area. The American Petroleum Institute chief economist John Felmy says that the success behind a nation is not one or two industries but are all put together and this is something none of us should forget. If there are profits in the oil industry then the nation also profits from the profits.
The analysis of these profits was surveyed by the Thomas Reuters Company and was estimated to 21 billion dollars for the first quarter of the year which means almost 10 million dollars per hour in the next few months. Oil industry is one of those industries which do not get hit by recession and has given almost 290 billion dollars as profits in the past few years. The prices of natural gas and oil has been steadily increasing in the past few years making it more and more miserable for the common man and a very profitable tax revenue for the politicians. President Obama’s suggestion in these circumstances seem very understanding and correct when he said that the profits are huge for oil industry and we should stop worrying about them. He suggests that they should take and make their paths on their own without any further help from taxpayers. He correctly said that the common man was burdened enough with paying taxes for other commodities and of course there was the gas tank to be filled more than often. But this plea was rejected by the Congress. The Industry’s leading name Exxon Mobil is reportedly making about 10 billion dollars in profit this year.
But the promise of jobs is just an estimate and could vary in huge amount depending on circumstances in the future. The question is that jobs created could be all on the oil site for truck drivers or oil drillers or oil workers or bar workers serving drinks to the workers or a clerk. What about the individual who aims for a white collar job, who are too qualified for such jobs. The jobs created would be in remote areas where the facilities would be minimal. Would people prefer such jobs is the question. Also the industry does not hire easily and hires only under direct hiring which cuts down the job criteria by a good percentage. A lot of other industries like the oil industry also have similar jobs under direct hiring policies like the construction industry or the auto parts industry.