Survey: N. America Land of Greatest Opportunity in 2012 -- All About the Bakken, North Dakota, USA

Link here to Rigzone.com. 

Oil and gas industry leaders have forecast improved performance and higher levels of capital expenditure this year, despite concerns over global economic instability, according to a new report on the future of the sector.

Increased investment across the industry will focus on exploration activity, with North America emerging as the area with the greatest opportunities in 2012.

Either on the blog or in private communication I have mentioned several times in the past two days a shortage of welders in the Bakken.

So, it was with a bit of joy to read this following just now:

Skills shortages are becoming more acute. According to the Economist Intelligence Unit's research, this issue comes out of the survey as one of the major obstacles to growth over the next 12 months. Last year, skills issues came fifth on the list of barriers and were only identified as a top three issue by 25 percent of respondents. This year, the issue has risen to second on the list, and has been identified as a key barrier by 34 percent of respondents.

Increased regulatory oversight is the number one barrier; the increased oversight is due to the 2010 oil spill in the Gulf of Mexico which to the best of my knowledge caused no lasting effect. By the end of calendar year 2010, it was a non-story.