Abstract
Times have certainly changed since I agreed to run for SEG president. Eighteen months ago, we were looking at $100 per barrel of oil, and as I look at the ticker at the time of this writing, it is running at just under $45 per barrel. This is up from a six-year low of less than $40 per barrel in August. The sudden drop in prices and the unexpected volatility in the market over the past year have the industry reeling, and many of our corporate and individual members are suffering. According to an August article in The Houston Chronicle, more than 146,000 energy-industry jobs have been cut in the past year worldwide. Many who have lost their jobs or taken pay cuts are SEG members.
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