Daubenspeck and Associates: Implications of Oil Prices
Ken Daubenspeck, founder and CEO of Daubenspeck and Associates and Daniel Galin, consultant at Daubenspeck and Associates, research was published in the Oil and Gas Monitor. In the article Daubenspeck and Associates discuss the important relationship between the oil and gas industry and universities. The oil and gas industry is one of the drivers for funding academic research at the university level.
An example of this relationship would be between universities and petroleum and gas companies. Universities, either one or several, will partner with each other and with petroleum companies on shared initiatives. It is important to note that the universities are not serving as extensions of petroleum research and development; rather, universities undertake basic research which falls under broad scientific categories. This research relationship does not provide a direct commercial benefit to companies, but does provide insight to allow the company to operate more effectively.
With the price of oil so low, it directly is tied to the funding for academic research. At times when the price is high, company sources have more funds to contribute to sponsor university research. Conversely, when the price of oil is low, there begins to be a drain on the funds available for these same activities. If these trends continue and the price of oil remains at historically low levels, job prospects for researchers and graduates will decrease.
The full article is published on the Oil and Gas Monitor’s website. Read the full article.