I believe that oil and gas will remain in demand for decades to come because of the economic disparity between nations. Some of the poorer nations will rely on oil more to sustain their economic activities and richer nations will depend less and less on it. I believe that Coal will fall behind natural gas and become a more important energy resource.
Oil will remain the main source of energy at least for next 30 years . Some developed and rich countries will probably significantly reduce the use of oil. In the future, the use of oil may be limited to purposes other than energy production.
crude oil resource is speedily depleting. The reserves (with 30 percent remained in placed) will consume in next 15 years, probably. Thus, demands new studies and hunt for new plays, fairways, structural and stratigraphic traps of hydrocarbons. However, we must look on other unconventional resources such as gas hydrates.
we are driven by economic incentives and not by concern for the damage that excessive energy consumption does to our environment and our health. ... Because the total energy demand will be so much greater, even after oil is no longer the major supplier of energy, the oil and gas industry will remain large for years