Job outlook for petroleum geologists?

Question

I was wondering what the job outlook for petroleum geologists will be in 10-20 years? With oil prices so high, and dems blocking drilling, and future of alternative fuel. If we do drill and oil prices fall, will this hurt the demand for exploration geologists? Looking for answers from people in that field only.

Answer 1

The oil field is really unpredictable. However, if you work hard (long hours) and are willing to travel it really doesn't matter what the price of oil is. I was in the oil field in the late 90's when the price per barrel was around $15. Rig utilization was around 50%, but I was still in demand because I traveled wherever they needed me to travel. Even with rig utilization at 50%, there were still plenty of people making plenty of money. Directional drillers were making upwards of $300,000 per year without college degrees even in that market (although they did have a lot of specialized training).

Also, geology is a rather broad field and it is not just oil that we find. We find metals, rocks, and other sources of energy including coal. On top of that there is soil science, and people will always need to eat. This means that even when the oil field crashes again, there will be places for you to go.

If you are looking for stability and money, you might want to go with an MBA. If you like working outside, and don't mind traveling and long hours, geology will treat you well.

By the way I am certain the price of oil will be lower in 10-20 years. There are just too many ways to make energy that are under $60 per barrel - a few years ago we could make oil using natural gas and coal for $40/barrel. Prices at this level are definitely not supported. I suspect that eventually the prices will go back down to $20/barrel or so, because that is what they do, but when that will happen I have no idea. Infrastructure takes forever to build.

By the way, if you don't want to travel and can't work weird hours (oil rigs operate 24 hours/day - every day, including Christmas), you won't like the oil field. Environmental geology is much more family friendly. Just a warning.

One more thing - if you are worried about downturns in the economy/price of oil, get a Master's. If you have a master's, and you have drilled a few good wells, you'll always have a job no matter what the price of oil is.

Answer 2

You will have a fruitful life as a waiter.

No really, as a geologist, currently not employed as a geologist, but employed, I am quite serious.