Thread regarding Chevron Corp. layoffs

Yes the pundits and talking heads always love to try to predict the future about energy sources. It makes no difference to me, I am retired. However, there will always be a need for hydrocarbons as far out into the future that I can guess. Sure the price will fluctuate. When producers reduce output because it is no longer economical to produce and employees scramble to other jobs, the price/supply will respond accordingly. What you guys and gals need to remember is there is life beyond the oil patch. You have valuable experience. Any job is valuable experience.

@5xkd - Perhaps you're right, Or perhaps these guys are right, though I do think their timeline is quite aggressive. https://www.rethinkx.com/executive-summary/

"Oil demand will peak at 100 million barrels per day by 2020, dropping to 70 million barrels per day by 2030. That represents a drop of 30 million barrels in real terms and 40 million barrels below the Energy Information Administration’s current “business as usual” case. This will have a catastrophic effect on the oil industry through price collapse (an equilibrium cost of $25.4 per barrel), disproportionately impacting different companies, countries, oil fields and infrastructure depending on their exposure to high-cost oil.

The impact of the collapse of oil prices throughout the oil industry value chain will be felt as soon as 2021.

In the U.S., an estimated 65% of shale oil and tight oil — which under a “business as usual” scenario could make up over 70% of the U.S. supply in 2030 — would no longer be commercially viable.

Approximately 70% of the potential 2030 production of Bakken shale oil would be stranded under a 70 million barrels per day demand assumption.

Infrastructure such as the Keystone XL and North Dakota Access pipelines would be stranded, as well.

Other areas facing volume collapse include offshore sites in the United Kingdom, Norway and Nigeria; Venezuelan heavy-crude fields; and the Canadian tar sands.

Conventional energy and transportation industries will suffer substantial job loss. Policies will be needed to mitigate these adverse effects."

5ope, As I replied to your last post in the other thread that you trolled in also (as ptid), The world still has a firm requirement and market for consumer items that are manufactured with and from majority Hydrocarbon based products, regardless of the fuel consumed by the device. There are petroleum derivatives in almost everything we use today. As of 2014, 95% of hydrogen is made from natural gas. It can be produced using renewable sources, but that is an expensive process.

I'll be thrilled if I could move on to engineering in one of the new waves of the future in transportation, but it looks like I'm stuck here in O&G until retirement.

I drive a Tesla model S, Fabricated from 99% Petroleum based products and Powered by an electric motor with batteries charged regularly from a clean burning natural gas generator based electrical grid. Until the magic renewable energy gods come up with a more cost effective solution, that's the way it's gonna be for the for foreseeable future.

Toyota is ready to launch its Hydrogen powered car in Cali. Wake up O&G industry.......We are still in denial mode. Our CEO’s still talk about increase in energy demand but they don’t tell you what type of energy demand.....or they may not know.

So much for alternative energy. It’s one big hoax just like the fable of Climate Change.

Until you have to drop $7,000 for all new batteries

What vehicle would that be, -fhv? A bicycle?

My next car will be electric. Toyota wanted just over $1,000 to replace the water pump. About $100 for parts and $1,000 for labor because the Toyota engineers put the pump inside the timing chain cover and the repair take 1 1/2 days to complete, as it's a partial engine rebuild.

What I learned from owning two BMWs is that you sell it after the 4 year factory warranty runs out. Unless you can afford $5k a year for repairs. When you look at total cost of ownership, gas cars are expensive because of the excessive maintenance they require. I look forward to owning a vehicle that won't cost as much.