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World Economy Entering Period Of Oil Scarcity, Halliburton CEO Says


Halliburton CEO and president Jeff Miller made waves this week by predicting that the world is due for a period of oil scarcity in comments at the World Petroleum Congress in Houston, Texas.

“I think that for the first time in a long time, we will see a buyer looking for a barrel of oil, as opposed to a barrel of oil looking for a buyer,” Miller said.

Since 2014, the oil industry has generally deemphasized building new infrastructure in the face of low prices. However, that trend may now catch up with the industry, which now finds demand for oil exceeding the available supply given current infrastructure.

Some analysts have speculated that it is increasingly likely that oil prices will soon climb to $100 per barrel, a price unseen in the past seven years and which has serious potential to disrupt the economy.

An additional factor contributing to predicted oil scarcity is a labor shortage in the fossil fuel industry surpassing that in the general economy.

The widespread perception that fossil fuels will be marginalized in the future of energy and transportation makes long-term careers in petroleum unattractive to young workers, with many oil workers seeking to switch to renewables or leave the energy industry outright.

A recent survey revealed that 43 percent of oil industry employees sought to transition to other sectors in the next five yearsas reported by Reuters.

As baby boomer employees retire, the industry struggles to replace them with young workers, who see the oil industry as unfavorable to long-term careers because of concerns about climate change models, and pressure by politicians, environmentalists, and investors to transition to renewable energy sources.

This combination of infrastructural underinvestment and labor shortages is likely to result in an oil supply stretched thin to meet demand, resulting in higher prices and possible shortages.

With oil extraction occurring at a significant time lag from industry investment and the skill shortage in the labor industry showing no signs of abating, there are major reasons to believe that any scarcity in oil supplies could last long into the future.

The Epoch Times

61 Comments on "World Economy Entering Period Of Oil Scarcity, Halliburton CEO Says"

  1. Duncan Idaho on Fri, 17th Dec 2021 6:06 pm 

    The scam of the Reagan-era neoliberalism is crumbling — and there’s a battle for its replacement

    (Who was dumber- the Fat Boy or Ronnie? The Fat Boy can rip people off, but Ronnie could make 3rd rate movies)

    Both can give wingnuts hard ons

  2. AnImpressionOfDejaVu on Fri, 17th Dec 2021 8:29 pm 

    I had a long discussion with GOD about the low birth rate and how it affect the energy equation of earth. Basically there is no future, fast ascension of the few selected White human man et destruction of the earth is still my main plan.

    I should be excited talk directly to a cosmic GOD, yet I kind of don’t care. I have an impression of Dèjà Vu. I will even get a new body, yet I feel I have been there before. Weird feeling.

    Nothing really matters
    Anyone can see
    Nothing really matters – nothing really matters to me
    Anyway the wind blows.

  3. AnImpressionOfDejaVu on Fri, 17th Dec 2021 9:04 pm 

    I hope the survival of the universe is not dependent of the survivable of the White human race. Otherwise, you just lost the whole universe creation, you will have to restart from zero.

    I don’t give a shit if the I am responsible for the whole destruction of the universe. I would consider this as a achievement, probably my biggest achievement. I would be returning the universe in a state of nothing. Living in this prison called earth, has really kill my desire to see life prosper in the universe, I know for sure now that the best life form is nothing

    Nothing really matters
    Anyone can see
    Nothing really matters – nothing really matters to me
    Anyway the wind blows.

  4. AnImpressionOfDejaVu on Fri, 17th Dec 2021 9:23 pm 

    You just simply cannot go around go and say: well I know I am torturing these people on earth, but it is for a good cause. This is given us good data so we can build a better world latter on. You deserve to die if this is how you think. If you consider pain a good thing and a motivator to build a better universe, you lost big time. Watch your whole creation die. I don’t understand how you can think this is a good way to move forward.

    I really hate earth.

  5. AnImpressionOfDejaVu on Fri, 17th Dec 2021 9:28 pm 

    You fuck up your creation. Fix it yourself. Don’t expect me to your savior.

  6. ellite whitey superatard Jolene Kolenosky MUZZ-19 away with reckless abandon went to SAINT PETERS whoa its a full rainbow all the way across the sky so intense double rainbow all the way what does it mean WDIM it looks like a triple rainbow whoa on Fri, 17th Dec 2021 9:45 pm December 6, 2021 PRINCE ALBERT, SASKATCHEWAN

    most PhDs don’t MUZZ-19 away with reckless abandon. Only hard core libs and poorly educated people who don’t have PhDs MUZZ-19 away with reckless abandon

    please feel at ease among friends, we’re all lovers of supremacist muzzies here.

  7. GoFuckYourself on Fri, 17th Dec 2021 11:15 pm 

    I am not speaking with a Cosmic GOD anymore. You are not high enough, You are the ones that have created this shit earth. From now on, I only speak to the Divine GOD of eternal source of energy. Video with the title Cosmic in it is not a proper way to identify yourself. Identifying yourself through a computer screen is not good enough. You should have show up at the meeting at the park. We do you think I have arranged that.

  8. GoFuckYousreld on Fri, 17th Dec 2021 11:27 pm 

    GOD is a big fucking corporation. This shit read like a big corporation memo. Very disappointed to see the same use words by GOD and big corporation.

    I want a destruction of all the universe and a return to nothingness. The universe should be made of onlye the Divine GOD energy source and nothing else. No other GOD should be left alive and they should all be killed. No pain is not a way to build a better futur and move forward.
    Through recent shifts that have impacted the core morphogenetic blueprints and vertical staff alignment in planet earth, we have direct access through the Neutron Window leading to assorted Guardian Defender-Sentinel Groups from the Interdimensional Free World Councils (IFWC). These Guardian Groups are from the God Worlds and oppose deception, Mind Control and slavery of all life forms, and thus protect spiritual freedom. Recently, the planet has received changes in appointing more Guardian Defenders and Krystic facilitators from the IFWC at every dimensional level of access. They are responsible for the recovery platform, which services the rehabilitation and education towards Service to Others, and teaches basic Ascension mechanics.[1]

  9. FuckingLosers on Fri, 17th Dec 2021 11:31 pm 

    This shit make me laught.

    They are responsible for the recovery platform, which services the rehabilitation and education towards Service to Others, and teaches basic Ascension mechanics.[1]

    The first fucking thing you have to do, is designed a new women and retired the current design. The current women is incapable of service to the other. She cares only about herself. You obviously don’t live on earth to wrote such stupid shit.

  10. FamousDrScanlon on Sat, 18th Dec 2021 2:25 pm 

    Is This Proof That Jesus Christ Never Existed? | Pagan Christ | Timeline

    “There are 2.1 billion Christians on the planet—roughly one third of the entire human population. At the heart of their religion is the New Testament and the birth, life, death, and resurrection of Jesus of Nazareth. To Christianity, the written word is the glue that binds the faith of its followers. So, what if it could be proven that Jesus never existed? What if there was evidence that every word of the New Testament—the cornerstone of Christianity—is based on myth and metaphor? The Pagan Christ investigates these very questions.”

    Merry Christmas

  11. ILoveThis on Tue, 21st Dec 2021 1:56 am 

    I love that we are getting more aggressive toward the AI and Anchrons. This is like telling them fuck you, we can push our own reality also. It is like saying two can play this game. People are so weak mentally and physically that they can be abused over and over and they will just take it.

    1:01 love the size of the eyes

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