Energy Sector Growth Projected for 2021
It's being projected that both renewable energy and oil will be seeing a significant growth by the second half of 2021.
Wes Reeves, representative for Xcel Energy said:
The country always needs energy [...] Whether that’s oil and gas, or the growing renewable energy industries that we have here, we know that energy is going to be needed.
Oil prices and energy production are already said to be up from when the pandemic first began, but KAMC News reports, however, that job recovery isn't happening as fast.
Statistics from West Texas Intermediate Crude Oil shows that the cost of crude oil is fluctuating between $40 and $50 a barrel, which is up quite a bit from the drop into the negatives we saw in April of 2020.
Jay Norton, President of Norton Energy Drilling LLC, said:
I think when you get second half of 21, I think you’ll see a significant increase in the price and commensurate with that you’ll probably see an increase in the activity level.
An increase in activity level means you'll likely see more job availability and stronger local economies.
Xcel Energy has said that it hopes to bring more wind and solar projects to the South Plains and Permian Basin in 2021.
Those interested in applying for a job can visit Xcel Energy or Norton Drilling's websites.
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