Future of Oil Companies
Oil companies are big players in today's global economy. The use of crude oil to supply power to the manufacturing industries, and generate electricity for every day purposes is undeniably beneficial to the demands of people for power and for survival. No one can imagine them selves living without any kind of energy source. Every year, crude oil consumption increases, and people nonchalantly spend more to consume more. The priority right now is for advancement, for industries to produce more and for people to work more to earn the money that they need for consumption. It is the cycle of the modern industrial lifestyle. However, natural resources are bound to end someday. Some oil companies are literally at the point of scraping the bottom of their oil fields to maintain production. It is a scary thought but it is possible; what will happen to the oil companies when the oil is gone? What is the Future of Oil Companies?
Looking at the current state of crude oil production,
the world is currently exceeding in demand for oil. As industrialized countries continue to grow and new ones
emerging and growing rapidly, the demand for crude oil
increases exponentially. The world is now is faced with reducing oil reserves. It is a thought that is very scary to some.
With the financial crisis, the cost of everything has increased and the dwindling resources from non-OPEC members
do not help. Sooner or later, the only group that will provide the world the fuel it needs are the OPEC members.
However, they have their own insecurities and politics that affect the production and supply of crude oil.
It is a fact that crude oil reserves are plummeting and the alternatives cannot altogether take the role that crude oil has in the global economy. This is the scenario that everyone has to face in the future but it is something that has to be studied really well. It is a very dangerous road already for the economy. Fuel consumption is essential but the dangerous problems of resources and environmental hazards have led to a lot of debate and research about alternatives. Unless the world rethinks its priorities and straightens out the demand, maybe soon, the world will be staring at the problems that the oil companies are facing right now. This does raise the question about the Future of Oil Companies.
The world as we know it right now has only limited reserves up to this date and it is a scary scenario if one day, there will be no oil left for those who cannot buy from the only ones who have the supplies. It is time to straighten out the priorities of the world. Oil companies will have to continuously research and find essential alternatives or sets of alternatives to solve the problems, but until then, what can the world do now? It is a collaborative effort for the whole world to take on. Everyone benefits and everyone suffers. With mass production and consumption still leading economies, it is very important to not let go of this issue of oil deficits into oblivion.