The oil, natural gas and petrochemical industries employed 1.4 million people last year, according to the American Petroleum Institute. Shortage of new leaders is hangover from last market downturn ‘A gap in leadership ranks across the industry’: PwC The oil industry is fighting a generation gap. Already contending with a global price slump, U.S. explorers are also grappling with the demographic hangover of the last great industry downturn in the 1980s, when scores of drillers went out of business . That rout drove a generation away from the business, leaving a shortage of workers in their late 30s to 50s today just as companies try to replace the Baby Boomers who make up much of senior management. What the industry calls the Great Crew Change — the looming retirement of thousands of older workers — has companies trying to plug the gap by training younger employees, recruiting outside the […]