- #1
iwantcalculus
- 15
- 1
As we can see now, oil prices are falling pretty forcefully, and it seems like they are heading for $30.
Now of course a lot of people ask: "when will petroleum collapse?"
And they usually mean due to renewable, sustainable, and nuclear energy for electricity and cars.
The "more knowledgeable" people tell them that petroleum is used for many things other than transportation and power such as plastics and petrochemicals and a bunch of other stuff I don't know about.
Yes, that's true, but when petroleum becomes USELESS in terms of transportation/energy, won't the prices plummet really hard? I don't think an oil barrel will cost $20 if oil is no longer used by cars, factories, and huge ships that transport stuff around. It would most probably be like $15. And even if the petroleum industry continues, it will only be like in Saudi Arabia where the easy oil is and it won't even be THAT profitable.
Another thing that worries me is that the oil barrel prices are "Artificial", that is, countries like Saudi Arabia need to artificially NOT sell their barrels so that the price stays high, and if they just continue their normal processes, the oil prices will go down to the mud in no time. Is aluminum like that? do aluminum companies artificially cut their production so that aluminum prices go down? I don't really think so, and this makes me pretty paranoid about how weak the bases of the oil industry are built on.So my question is, how long will the petroleum industry be PROFITABLE? And by profitable I mean oil barrel prices will be around $40-$60.
How long will it take till the effects of renewable energy will be clearly seen in the prices of oil barrels?The reason I'm so paranoid is that I want to start a Bachelor's in an oil-industry related study after 1 year and work in the oil industry afterwards. I want to stay in the oil industry for around 10 years or so.
Will the oil barrel prices be around $50+ at 2020-2030 ?
Scared to see the oil industry collapse right on my graduation day...
Now of course a lot of people ask: "when will petroleum collapse?"
And they usually mean due to renewable, sustainable, and nuclear energy for electricity and cars.
The "more knowledgeable" people tell them that petroleum is used for many things other than transportation and power such as plastics and petrochemicals and a bunch of other stuff I don't know about.
Yes, that's true, but when petroleum becomes USELESS in terms of transportation/energy, won't the prices plummet really hard? I don't think an oil barrel will cost $20 if oil is no longer used by cars, factories, and huge ships that transport stuff around. It would most probably be like $15. And even if the petroleum industry continues, it will only be like in Saudi Arabia where the easy oil is and it won't even be THAT profitable.
Another thing that worries me is that the oil barrel prices are "Artificial", that is, countries like Saudi Arabia need to artificially NOT sell their barrels so that the price stays high, and if they just continue their normal processes, the oil prices will go down to the mud in no time. Is aluminum like that? do aluminum companies artificially cut their production so that aluminum prices go down? I don't really think so, and this makes me pretty paranoid about how weak the bases of the oil industry are built on.So my question is, how long will the petroleum industry be PROFITABLE? And by profitable I mean oil barrel prices will be around $40-$60.
How long will it take till the effects of renewable energy will be clearly seen in the prices of oil barrels?The reason I'm so paranoid is that I want to start a Bachelor's in an oil-industry related study after 1 year and work in the oil industry afterwards. I want to stay in the oil industry for around 10 years or so.
Will the oil barrel prices be around $50+ at 2020-2030 ?
Scared to see the oil industry collapse right on my graduation day...