The Future of Petroleum - and of Petroleum Education

In 2008, the world stands at a crossroads with regard to the recovery and use of energy. Over recent years oil, the world’s primary source of transportation fuel, has reached a “pinch point” between supply and demand – with the consequence that price has expanded rapidly to higher levels than ever seen before. Quenching the world’s ever-increasing thirst for oil is a problem that has grown serious. Discovering and recovering increasingly larger amounts of hydrocarbon resources will require new technology, as well as a larger and a more sophisticated technical workforce. This presentation will examine the future of three aspects: (1) resources, (2) technology and (3) manpower. The petroleum engineering discipline and petroleum education programs have crucial roles to play in all three aspects.