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Old 03-09-2010, 11:50 AM
 
2 posts, read 5,413 times
Reputation: 11
Default Moving to Houston for energy trading opportunities

Hello guys ... I am new to this site and hopefully I will find it worthwhile.
I am a recent finance grad (from the NorthEast) and in a couple of weeks I am planning on moving to Houston to embark on an energy trading career...
I will greatly appreciate any advice vis a vis energy trading opportunities in the houston area or for that matter anywhere in the country
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Old 03-09-2010, 01:36 PM
 
49 posts, read 153,756 times
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Houston is a great place for a starting energy trader. There are loads of opportunities, and the city is good for singles if you live close to or in the 610 loop. Further, the cost of living helps you save some if not all of that nice trading pay!
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Old 03-09-2010, 02:38 PM
hsw
 
2,066 posts, read 4,072,459 times
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Would look into where world's highest earning energy traders work/live

Houston has Centaurus, arguably world's leading energy HF, started by Hou's youngest self-made billionaire
Greenwich area has the old Phibro gp (now part of Occidental)
Would suspect Goldman has sharp energy traders based in NYC and London
Suspect NYC has a few big HFs with sharp energy traders

Part of Houston's advantage is most of world's smartest energy guys (execs/entrepreneurs) work in Hou (or DFW or OKC), so Hou is the global epicenter for energy industry...much like sharp tech traders/investors need to live/work in SiliconValley/SF to be plugged-in with what's happening in tech industry
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Old 03-09-2010, 04:00 PM
 
Location: houston/sugarland
734 posts, read 414,917 times
Reputation: 174
Quote:
Originally Posted by TXDungeonMaster View Post
and the city is good for singles if you live close to or in the 610 loop.
Thats debatable...


to the OP:

Houston is hands down the energy capital of the world so there is no doubt your making the right decision by moving out here. Thats part of the reason why I might end up staying here after I graduate. The energy industry is a rock solid foundation to start a career in a technical field.

Just out of curiosity what exactly are the day to day dealings of a
"Energy Trading " financier???
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Old 03-09-2010, 05:32 PM
 
Location: TX
860 posts, read 1,439,935 times
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Houston is the energy capital of the US primarily due to the fact that 5 of the 6 supermajor oil companies have vast operations here and it's dominance in oil drilling equipment/technology. However, considering that the supermajors control a rather small portion of the world's oil reserves (percentage-wise, it's in the single-digits), that title is greatly exaggerated. It's the energy capital of the US, no question. The world? That's stretching it. A more fitting term would be the "oil and gas drilling technology capital of the world," but that doesn't sound as good.

Case in point: Doesn't Halliburton's CEO live in Dubai?

Last edited by Alphalogica; 03-09-2010 at 05:44 PM..
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Old 03-09-2010, 07:49 PM
 
Location: TX
860 posts, read 1,439,935 times
Reputation: 501
If you want to move to Houston to make money in the energy industry, now is the time. We must enjoy the boom here while it lasts, but once technology in alternative energy gains steam and is able to compete with fossil fuels, it's game over.
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Old 03-09-2010, 09:30 PM
 
Location: H-town, TX.
1,910 posts, read 2,150,324 times
Reputation: 915
Quote:
Originally Posted by EEstudent View Post
Thats debatable...


to the OP:

Houston is hands down the energy capital of the world so there is no doubt your making the right decision by moving out here. Thats part of the reason why I might end up staying here after I graduate. The energy industry is a rock solid foundation to start a career in a technical field.

Just out of curiosity what exactly are the day to day dealings of a
"Energy Trading " financier???
No kidding. Sounds pretty Enronish to me. We all know how that turned out and with our economy really nothing more than selling junk to the next person dumb enough to overpay (flipping homes, et al)...
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Old 03-09-2010, 10:54 PM
 
Location: TX
860 posts, read 1,439,935 times
Reputation: 501
Quote:
Originally Posted by AlfredB1979 View Post
No kidding. Sounds pretty Enronish to me. We all know how that turned out and with our economy really nothing more than selling junk to the next person dumb enough to overpay (flipping homes, et al)...
Not worried about these folks. These "energy traders" can have at it. When one can produce their own energy at an insanely cheap cost, and thereby becoming much more abundant than it is today, where is the viability in "trading" it? The sun's energy is free. Houston's dominance as an "global epicenter for energy industry" can't compare to the "solar system's epicenter of energy -- literally" -- the sun.

Last edited by Alphalogica; 03-09-2010 at 11:07 PM..
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Old 03-09-2010, 11:11 PM
 
1,474 posts, read 2,526,149 times
Reputation: 505
noone really has an answer for you ... but we'll convince you to move to houston anyway. maybe ask you questions that'll make you think the answer is so obvious.
i worked on the ETRM for a while now but in IT. I think you know the best way into these shops is thru school, you might want to check what programs are available from yours. over here of course the local universities got dibs for topnotch newbies and their execs relatives. as one said - Enron - that to me is the secret masons of our time lol find out who you know. anyway, if you get admitted youre going to start as trader support working on risks and pnl groups. you could work years in this area but never get a seat on the trading desk. i know a few exceptional people who moved from IT to become a trader, they basically used IT to be heard/seen in action
try canada, they are our biggest oil provider

houston does have a lot of electricity providers so thats a lot of trader seating (i think) but i think most of them are just hedging.
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Old 05-16-2010, 03:56 PM
 
73 posts, read 88,976 times
Reputation: 50
I'm currently out of state in grad school but plan on returning to Houston afterward. How exactly does one break into energy trading if you aren't at a target school? My undergrad was at UT which is a target school, but I wasn't in a target department. The business school has a tendency to withhold info about recruitment sessions and present it's students as all of the all of the students to recruiters. This was despite the fact that other departments started paying the business school to share data. The last dean got fired over that among other shady behaviors. The closest jobs to trading that I'll qualify for immediately after graduation are risk management and quant development. I'd like to avoid QD because it's often a dead end. I've met a few MDs of various trading and risk management departments but they're all going through hiring freezes right now or only hiring experienced people. All new recruitment seems to be through the old boys network.
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