Oil Prices Set to Rise

March 3, 2010Leave a Comment

A recent report from the Industry Taskforce on Peak Oil and Energy Security states that there is not much chance of finding any significant quantity of new cheap oil. Any new or unconventional oil is going to be expensive.

Basically this report clearly states that in as little as five years, despite the economic downturn, we will have reached Peak Oil Output. That means, despite ever-improving technology and the large oil reserves recently discovered, the total output of oil will drop worldwide.

Alternative oil sources (Coal / Sands / Deep Water and so on) will become increasingly expensive to extract, forcing oil prices even higher.

The one dominant conclusion from these findings is that our ever-growing energy requirements will need to be satisfied by other sources. From renewable energy, through to nuclear and gas, we are going to see a rapid growth in investment in all non-oil sectors and a steady and inevitable increase in the price of energy. As energy prices increase, and our global energy consumption fails to reduce, future investment will drive both technology and production processes, so there will be a growing need for engineers from all energy sectors and across a variety of engineering disciplines.

TRS Staffing Solutions work very closely with a number of companies active in a wide range of energy sectors, including those previously mentioned. To see a selection of TRS Staffing Solutions current job vacancies, click here.

For more information about TRS’ engineering recruitment service in the UK, email: info-uk@trsstaffing.com

Author: John Rowlands, TRS

We want to hear what you think – Please leave a comment below (it can remain anonymous if you prefer!)


Comments

Name (required)

Email (required)

Website

Speak your mind