AAPG ACE ‘15: Don’t let the downturn quench your passion, delegates told
DENVER, Colorado -- The specter of lower oil prices loomed large during the opening session of ACE 2015 as AAPG President Randi Martinsen urged delegates to recapture their passion for geology.
While oil prices appear to have achieved some stability of late, they are still far below their price last June. WTI—the U.S. benchmark crude—is currently hovering around $60.
Speaking at the opening session of ACE 2015, which is being held in Denver for the ninth time, Martinsen urged delegates to remember their passion for geology, a task made more urgent—and perhaps difficult—by the current downturn.
“We see the impact of this most recent crash everywhere we turn: colleagues have lost their jobs, corporate restructuring has upset our collective balance, and the industry’s overall attitude is one of sever austerity, cutbacks, entrenchment and caution,” Martinsen said Sunday.
However, instead of retreating from the risk associated with exploration during downturns, Martinsen believes explorationists should seize the opportunity to seek out new resources.
“I believe that explorationists like Wallace Pratt, John Masters, and George Mitchell had it right when they followed a strategy of continuing exploring, or even increasing their efforts, during downturns,” Martinsen told about 1,000 delegates in the Colorado Convention Center’s Mile High Ballroom.
And while individual workers can often feel at the mercy of corporate, or even geopolitical, decisions beyond their reach, Martinsen urged delegates to concentrate on what they can control—themselves.
“History tells us that times will get better,” she said. “We need to figure out how to make the best of things. Most of us can’t control what our industry does or what our companies do, but we do have control over what we do.”
Martinsen urged delegates to stay engaged and keep their “professional juices flowing” so that they will be equipped to “take advantage of the opportunities that do exist” during the downturn, despite the prevailing negative mindset.
“I often think back to how and why I became a geologist, and the truth is these memories have always helped me through the hard times,” Martinsen said, recalling how a passion for geology was first sparked within her as a child. “They get me out of the doldrums, which in turn helps me find the energy and the motivation I need to get through the difficult times and move forward.”
Times are hard, especially for those who have lost their jobs or are about to graduate, Martinsen said in a clear acknowledgement of the real pain felt by many in the industry, stressing that “getting in touch with you inner child” won’t solve the problem of a lost job.
But perhaps being reminded of the “positive awe” delegates felt when they were younger can still have an impact, she said.
“This is your time to recapture the fire that fuels your professional lives. This is the day. This is the week. This is the time,” she said.
The time is right and the passion is there, Martinsen said. All that remains is for delegates to “claim it, nurture it, and, most importantly, use it.”
ACE 2015 is being held at the Colorado Convention Centre in Denver, Colorado, from May 31 to June 3.
