Are they talking about line workers, or guys with college degrees in petroleum engineering?
In the field, the guys that make the most dollars are directional drillers and company men.
Nowadays it’s ‘preferred’ to have some sort of college degree for those jobs but not required by any means.
The PetE degree holders are usually office minions somewhere.
I’ve got a cousin who, with only a highschool diploma, is a directional driller making $200K+/yr. In his mid 30’s. And has been making that kind of money for over a decade. Spending a hundred grand on a degree and using his early 20’s to get that would have seriously cost him money long term.