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Is Oil and Gas a dying industry?

Just wondering what your opinions are. On one hand many have predicted that oil will run out in ~40 years whereas others believe that the increasing population and urbanisation especially in developing countries will drive the oil demand up and that we have enough oil for the rest of the century. I'm asking because the salaries at the moment are very high and possibly companies are trying to attract workers as they know they'll be out of business in their lifetime.
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Avatar for JaxD
JaxD
In terms of wages you could say they are high for a number of reasons.. The industry is highly profitable/ skills shortages mean companies head hunt which drives up salaries/ working offshore involves added risk and needs an incentive (more money and more time off) etc. I think the North Sea/ west of Shetland alone still has potentially 40+ years left of oil and gas production


Posted from TSR Mobile
Nope, oil & gas is booming at the moment and certainly won't run out in anyone alive today's lifetime.
No. New reserves are constantly found and the hypothesis that these resources are non-renewable is challenged.
Shale Gas in the US alone is looking to provide world supply for the next 100-200 years no problem.

The conquering and liberation of Iraq, Libya will lead to increased supply also.
Still plenty of oil and gas, they'll just have to work harder and harder (and spend more money) to find it and get it out of the ground

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