Forum - Young professionals discuss the future of energy.
A total of 480 readers responded fully to the survey. As shown in Fig. 1a, the company category of the respondents included integrated (major) oil and gas company (31%), service/manufacturing company (23%), independent oil and gas company (21%), national oil and gas company (11%), consultant (6%), academia (4%), government (2%), and others (2%). Concerning work experience, almost two-thirds of the respondents have less than 5 years' experience. The male/female ratio was 85/15. Most respondents were younger than 35. The answers strongly correlated with the primary work location, the data on which are shown in Fig. 1b.
Will oil and gas remain the major energy source for the 21st century?
As shown in Fig. 2, 78% of the respondents answered affirmatively.
Some points to support this belief include
New exploration along with improved oil-recovery technology will increase oil recovery to almost 80%, making oil and gas the main energy source until 2070 to 2080.
As new, cost-effective ways of storing and transporting natural gas develop, we will help sustain energy supply through the ability to tap into previously uneconomic resources that used to be flared off.
Deepwater opportunities in the Gulf of Mexico and west Africa, combined with Canadian tar sands and enhanced oil recovery in the Middle East, will keep oil in the USD 60/bbl range. This is high enough to support these types of projects, but not high enough to make alternatives competitive.