The price of oil dropped significantly over the last few months from over a $100 a barrel to somewhere around $50. It is still a good idea to go into petroleum engineering or is the field dying? Would it be a good idea to go into PetE now, since so many people are afraid of the low oil prices because prices are bound to rise?
"is it still a good idea to go into petroleum engineering or is the field dying?
No, it is not a good idea because there are TENS of thousands of Pet Engineers who already have graduated, and have worked in the industry- thus they will get any job offers ahead of students who will be graduating in 4+ years.
And NO economist is predicting that oil prices will rise.They are predicting that they will be flat or lower for years. Too much supply chasing too little demand.
The oil industry- long term -is going to decline and go the way of the coal industry.
If you want to get into energy engineering, then get into solar, or wind, or some other renewable energy specialty.
The planet only has about 50 years of petroleum left…My guess is that, as green-energy companies begin to prep for our future energy needs, oil companies might just be out of business way before those 50 yrs are over. So plan accordingly.