Well, oil will run out one day. In the North Sea there might be 30-40-50 years left of the industry, but there are plenty of places around the world which aren't in decline yet.
If you decide to get into the industry just now be aware that it's at its lowest point for many years, with many redundancies, so there will be a lot of competition for jobs.
If you decide to get into the industry just now be aware that it's at its lowest point for many years, with many redundancies, so there will be a lot of competition for jobs.
Original post by Mvpmb
Im considering doing a degree in it, however im aware that there is sceptism as to how long the oil industry will survive
Surely at least the next 20 or so years. It takes a long time for the infrastructure to change, even with renewables rapidly increasing, they are still v small compared to oil. In 40, 60 years' time, who knows! (Maybe read Exxonmobil's energy outlook, it's on their website)
Maybe doing a chemical engineering degree would be better, if you're worried. That would still be fine for a job in the chemeng industry, but is broader. The majority of the content will probably overlap between chemeng and petroleum engineering.
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Original post by Mvpmb
Im considering doing a degree in it, however im aware that there is sceptism as to how long the oil industry will survive
The oil industry will be around for many decades yet. The issue isn't that oil is running out (although it will run out one day) as more oil is being produced than ever. The issue is the price of that oil, which is currently lower than a lot of producers would like, which has lead oil companies to reduce their spending, resulting in many, many thousands of job losses across the industry.
Therefore, many companies are simply not recruiting at the moment, and competition for jobs is extremely high.
Although, that said, competition for actual petroleum/reservoir engineering jobs was still quite high at the graduate/entry level even when oil was high and companies were recruiting, because such positions made up only a very small amount of the overall pool of jobs in the industry.
Things might be different by the time you graduate, or they might not. If I knew exactly, I could be a very rich man. A safer options is to do a degree in a more traditional discipline, like civil/chemical/electrical/mechanical, and see where things are when you graduate.
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