<p>Hello Forever LSU, I have been reading your past posts regarding PE careers and got a lot of useful info. Thanks. I am a military officer who is leaving the service and thinking about making a pretty big career change into PE. I’m in my late 30’s so making a career change into a challenging field is sort of a gamble. However, I have good math and science background and in this economy I want to be positioned in an industry that pays very well and provides a critical product/service that society cannot do without.</p>
<p>Having said, what are your views on peak oil? I’ve read a lot of books on this subject and think we are definitely at peak oil or very close. As the world begins to recognize this reality, oil is going to become very expensive and people in this industry will be highly sought after in the short term. At the same time, there will be huge investments made in alternative and renewable energy as an alternative to fossil fuels. If enough money and resources go into renewables, then renewables could reach critical mass. which would not be good for the job security of people in fossil fuels related jobs.</p>
<p>In your opinion, will oil still provide many more decades of stable employment in a world of peak oil? Is PE a young man’s game or can someone like me make a mid career transition?
PS- I want to go to Mines for a PE bachelors.</p>
<p>Ive read a little bit about this myself. Hubberts model anticipated that US production would peak in 1970, following a bell-curve. Data has shown that it peaked in 1971 so his model is pretty accurate. He anticipated that world production would peak in 2000, I dont think we have enough data to verify this yet but Id assume hed be pretty close.</p>
<p>However, if you think about that, even though US production peaked in 1971 we still employ a vast workforce of petro engineers in the US today, nearly 40 years later hence, the bell curve. Assuming world production peaked in or around 2000 Id say its also safe to assume that there are at least a few more decades where petro is a safe place to be. </p>
<p>Were starting to see a definite shift towards renewable but its going to be a long time before they take any serious hold. If youre in your late thirties I wouldnt worry about it too much.</p>
<p>purduefrank, i agree that oil jobs won’t disappear overnight. Peak oil doesn’t mean that there’s no oil left. By definiton, we still have approximately half left. However, we don’t have to use up the last drop of oil before a major shift in energy takes place. given present trends, the supply and demand curves are going in opposite directions and at some point, oil prices are going to ramp in a big way when the world realizes that there’s not as much oil left as we thought. Fear that our way of life is in jeopardy is a great motivator for effecting big changes quickly. given money, political will, and public support, I think that renewables can overtake oil a lot faster than people think. at my age, i have to be sure about the risk/reward before I can make such a big career move. For example, in the early 90’s, auto companies were making money hand over fist because of a strong economy and booming demand for SUV’s. If you were starting a career in the auto industry in the early 90’s, you were probably pretty confident about the future. fast forward to 2010, and those same people working in the auto industry are mid career and probably very worried about their jobs. i would hate to be in the same position.</p>
<p>Mr Payne, why doesn’t Mines have a better reputation as an engineering school? My research indicates that the school is very good. how good is Mine’s reputation in the oil, gas and mining industries?</p>
<p>Most people who pay attention do realize this, and world leaders certainly do. The US and China have been in a bidding war for a few years now over world oil supplies, among other resources. Just yesterday I read an article on CNBC about current oil negotiations in Iraq, I know you said you were in the military and I dont want to offend you, but at the very least our military operations over there have a cloud of suspicion in this area. </p>
<p>China has been buying up oil rights 40 years out. If you start to delve a little more deeply into this youll see that the people in power know what the deal is.</p>
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<p>To a certain extent I agree, but the public will be the last to realize theres any concern. Given that our politicians are concerned primarily about reelection, its doubtful theyd like to be the one shouting off about how we need to take immediate action spending money on yet another thing we cant afford. Not only this, but for decades the top five oil companies have been the most profitable companies on the planet. The money here is so deep youd be a fool to think our politicians havent been bought off. When the time is right, these companies will unload patents theyve locked away in vaults with next generation batteries and alternative energy technology, and, mark my words, Exxon will be the leader in green energy once were approaching 2050. </p>
<p>Call me crazy, Im sure many people will, but powers greater than supply and demand will influence this profitable market until its absolutely necessary to change anything. Im banking on 20-30 years before employment will be an issue but you better be willing to take an international position.</p>
<p>purduefrank, great insight. thank you. You’re probably right. there’s too much money at stake for a radical, sudden change in the status quo. Our fossil fuel infrastructure costs hundreds of trillions and you just don’t walk away from that kind of investment until you squeeze every last dollar from the system. </p>
<p>BTW, No offense taken. I have multiple deployments to the Middle East and am very aware of the geopolitics of oil. I’ve lost too many friends and seen too many billions spent/wasted to believe we are in the ME solely because we care so much about the freedoms and rights of Muslims. I guess I feel kinda mercenary for wanting to go into oil, but these days, stable employment trumps ideaology.</p>
Mines has a very good reputation in Petroleum Engineering. I was simply disagreeing with an earlier post made by someone else saying that Mine’s was seen as second tier. I don’t know how that thinking has come about.</p>
<p>alright well it looks like i’m mostly looking at texas a&m along with louisiana state at the moment. my other question to anyone that could help, what is the future of petE? what are my possibilities of finding a job? job security? that kind of thing. anything that can help me better understand the possibilities and aspects of this job choice would be greatly appreciated. thanks everyone.</p>
<p>Hey guys, my personal conclusion is that the job prospects will be good for at least another decade or two. It’s related to the typical commodities investment cycle: high commodity prices lead to massive exploration and production efforts (and lots of jobs), which eventually leads to more supply (often over-supply) and lower prices and layoffs.</p>
<p>I can’t speak specifically for PE - but just as an FYI - Penn State is a top recruiting school for geologists for most of the major oil companies. So location doesn’t really seem to be a problem.</p>
<p>What does everyone think the impact of the Gulf Of Mexico Oil Spill will have on Petroleum Engineering as a major? The Petroleum Industry? Jobs?</p>
<p>Hi new to forum n peng but absolutely fascinated by it wana go back to uni n study it & do it upstream definitely just hope im not too old at 30? My main questn for u was hw dyou get so much experience? Can i do same in uk - thts where i am.</p>
<p>My husband is a CEO in the oil and gas industry (and a Mines PE alum with 30 years in the industry). No way does an o&g recruiter go for an LSU or Tech grad over a Mines grad. (Not in your wildest dreams foreverLSU.) In fact, the formidable A&M network means Aggie engineers probably have the best hiring options. Texas and Mines round out the top three in that regard.</p>
<p>Forgive me for taking over this post. I am a brand new member and am just figuring out how to use College Confidential. I had just a couple of questions for you guys. I am really determined to go into Petroleum Engineering at TAMU. I have read all about underbalanced drilling, well performance through powerpoints and engineering conferences and am really passionate about the jobs in this field. It’s just that the sheer number of graduates predicts a really competitive market in 2018, my graduating year. And everyone I know entering this industry has some type of connections. I have read virtually every post on petroleum engineering on CC. While most agree it is lucrative, recent posts and TAMU’s letter do give warnings of an extremely competitive market in the future. Please tell me guys, what do you think? I have no connections in this industry, while all the people I know in TAMU PetE do, and that’s why I feel a bit unsafe with this major in a competitive market.</p>