Future of Oil and Petroleum Production

[Robust]

Recently the use of petroleum have been reduced in my neighbourhood, you don't normally hear the sound of generator every where any more ,because people are using solar energy to power their electricity instead of generator .

Well that is nice, though at my side we usually face a lot of challenges regarding this petroleum and that is why some time we don't have constant electricity that is why most people usually use generator.

 

[Syldan]

Well the future of oil producing companies and countries is still contradicting due to the advancement in technology, I think oil will not be given much consideration in the future but rather a new dimension will be achieved.

 

[frederick_9]

Most investors believe that oil prices will remain about $60 per barrel through 2024. There are long-term concerns, however, about the energy transition away from fossil fuels. Nearly two-thirds of investors say that peak oil will occur by 2030.

 

[Ronald]

With electric being the way to go for commuting, it’s safe to say that the future of oil and petroleum production for Gas Stations doesn’t look promising! This will be within the next 20 years, and a full transition within 50 years in my opinion. Oil and Petroleum isn’t as sustainable as Electric and Hydrogen - and we only have a limited supply on planet earth.

While this is a good step forward, many jobs will be lost in the Oil and Petroleum industry - including engineers, gas station clerks, gas station fillers, truck drivers transporting fuel, and major oil companies resulting in millions of lost jobs. We’ve got one former administrator who studied Petroleum at university and currently works in the industry so it would be interesting to hear his point of view. It would be a shame for the millions who studied at university for that to happen! @Anis Boukezzoula

How do you think the transition of moving from Oil / Petroleum to Electric will take place? Will governments ban the sale of new petrol and diesel cards? And, what about boats? Electric and water don’t mix and diesel is required to run most motors in the boating industry.

It is true that the use of oil and gas will be on the wane due to the emergence of electric products.
However, whatever happens, oil and gas industry will never be obsolete regardless of the
advancement of technology.

 

[tyrim88]

Which ever way we look at it,the issue of petroleum would always come to the mix,irrespective of the fact that there has been an alternative to petroleum,like electric cars and solar powered cars,fossil fuel cannot be thrown out completely.

 

[Shigobad20201]

Back then , we always think the oil and gas have such a promising future but now the future seems dull because of the emergance of solar elctricty , and electric cars have shut the the hope of petroleum production .

It is true that the use of oil and gas will be on the wane due to the emergence of electric products.
However, whatever happens, oil and gas industry will never be obsolete regardless of the
advancement of technology.

 

[Joseph555]

Several countries have started or are in the process of starting to phase out the use of cars that run on petrol in favor of electrically powered cars. Very soon, the use of petroleum and it's products will be limited.

 

[Ronald]

Back then , we always think the oil and gas have such a promising future but now the future seems dull because of the emergance of solar elctricty , and electric cars have shut the the hope of petroleum production .

Electricity has surpassed oil and gas as an energy source, and this is because it is a renewable resource, whereas oil and gas are non-renewable resources which are finite. It is therefore understandable why electricity has become the preferred energy stream.

 

[Rolly_blen]

With electric being the way to go for commuting, it’s safe to say that the future of oil and petroleum production for Gas Stations doesn’t look promising! This will be within the next 20 years, and a full transition within 50 years in my opinion. Oil and Petroleum isn’t as sustainable as Electric and Hydrogen - and we only have a limited supply on planet earth.

While this is a good step forward, many jobs will be lost in the Oil and Petroleum industry - including engineers, gas station clerks, gas station fillers, truck drivers transporting fuel, and major oil companies resulting in millions of lost jobs. We’ve got one former administrator who studied Petroleum at university and currently works in the industry so it would be interesting to hear his point of view. It would be a shame for the millions who studied at university for that to happen! @Anis Boukezzoula

How do you think the transition of moving from Oil / Petroleum to Electric will take place? Will governments ban the sale of new petrol and diesel cards? And, what about boats? Electric and water don’t mix and diesel is required to run most motors in the boating industry.

The future looks quite dire for oil and gas companies because the world is transitioning from these resources to electricity mostly due to the fact that the latter is a renewable energy source.

 

[nana kwasi1]

The idea that the rise of electric cars will result in significant job losses in the oil and gas industry is one I will not fully endorse. Don't forget that there are electricity blackouts in the majority of the world's economies. How in the world are they going to power these electric cars?

 

[Nadiel sahmen]

For a very long time, the world will still require oil to meet its energy demands, but I believe that, in the long run, solar energy will be the most important factor.

 

[Shigobad20201]

Since we are having electric vehicles that no longer need the service of oil and petroleum to function nowadays , the future of petroleum and oil business is now blurry and not certain ,

 

[Eli342]

The phase in which technology is heading these days is hard to say that oil and petroleum will be in massive demand even most vehicle nowadays depend only on electricity.
so the future of oil and petroleum is not looking that bright from my point of view

 

[Sotherefore]

Petroleum may not really have much future as I have seen because of the fact that technology is changing. A lot of people consider it to be agent that pollute the atmosphere. Electric car is becoming more rampant nowadays

 

[Eleanor]

Oil and gas is very important in the country because most of the day to day activities uses oil and gas .petroleum is also needed to run the daily activities of the country

 

[Shigobad20201]

The only thing I realises have future here is gas business because the future of petroleum production is far declining because of the emergency of solar power and electric cars .

 

[Kane]

As long as there is oil inside the earth, I do not think oil production will die. That's because only 20-22 percent of petroleum production consists of fuel (gasoline), The remaining products are used for a lot of things from paving roads (bitumen) to cosmetics, and even plastic.

 

[Heatman]

My country is heavily dependent on oil and petroleum. Over 80% of our exportation and fund generation for the economy is from oil and petroleum. If we wake up one day to see all the oil gone, we are going to become a bankrupt country. Electric cars and bikes are not popular here yet but it's coming in small.

 

[Ja sa bong]

If the oil and gas sector become replaced completely by electric technology, the effects it's going to have in the job sector for those working in the oil and gas industry will be catastrophic. Thousands of people will lose their jobs like what happened in the tech sector this year with the massive layoffs.