Imagine a rainy day fund sitting in cash. Every day the money loses purchasing power and, if you ever decide to use it, your detractors feign outrage and announce that "it's only misting."
Oil and gas operators today face a daunting array of challenges. Wells often are located in the planet's harshest environments, from the scorching deserts of the Middle East to the frozen tundra of the Arctic regions.
With oil prices hovering around $90 to $100 a barrel and new technologies for extracting hydrocarbons, the prolific Permian Basin of West Texas and Southeastern New Mexico is enjoying a renaissance.
William (Bill) Greehey knows a thing or two about growth. Having served as chairman and CEO of Valero Energy Corp. from the company's inception in 1980 until he retired as CEO in January 2006, he was instrumental in the company's growth from a small, regional natural gas pipeline company to the largest refining company in North America.
It's not often that we print letters to the editor, but I thought our readers might enjoy this one in response to my December column ("Seeking intelligent solutions to an aging energy workforce").
