Major oil and gas producers can play a key role in driving development in other sectors of the economy outside of the energy industry. In addition to generating demand for CNC precision machining and other custom manufacturing services, these companies can also help support programs that let communities create more engineering jobs.
The University of Wyoming will, according to the Associated Press, receive millions of dollars from Halliburton as part of a program that will fund the construction of a new research facility and support ongoing engineering education. The president of the company, Dave Lesar, even appeared in Wyoming in person to dispense the funds.
The AP quoted some of Lesar's remarks, which put into perspective the greater role that endowments like this might eventually bring to U.S. energy endeavors.
"Giving gifts like this are fun, but we don't do it just because they're fun," he said. "We do it because we see a benefit. We see a benefit to the state, we see a benefit to the university, and ultimately, with the research done here, I think a benefit to U.S. Energy production."
The Northern Colorado Business Report notes that the High Bay Research Facility will encompass 81,000 square feet and has also received financial contributions from other energy companies, including Exxon Mobil, Royal Dutch Shell and Baker Hughes. A major renovation of the campus's Engineering Building is also being planned.
Encouraging more students to enter the engineering field will help support the energy industry, but oil and gas producers depend on a range of specialized services to keep their operations running smoothly. For precision machining, it is important for companies to turn to an experienced provider that they can trust to handle their most sensitive projects.