Rising oil prices !!?

As the price of crude oil has been steadily increasing, and the International Energy Agency saying future output might be much lower than previously forecasted, how does this affect the oil %26amp; gas industry ? Does rising prices of crude equate to larger profits for upstream companies ? And will the 'apparently' higher global demand mean such companies will increase their recruiting numbers ?Rising oil prices !!?
Not really; as oil/gas become harder to find, the price of finding, extracting, cleaning/refining it also grows. As long as the energy companies feel there is money to be made in this process, it will continue but at some point, they will decide that the cost of extracting oil becomes too high and will funnel profits into research for new energy sources. Extracting oil is a high cost and risky venture - the reason returns on oil stocks have only averaged 8% the last 20 years (avg is 12%). As long as they can see a profit, exploration and operations staff will be expanded and jobs there available. However - oil has a strong bubble/bust history and after a bust - high percentages of people, even those with advanced degrees, are fired. I wouldn't shy away from getting a Masters in geophysics or oil field management but beware that there will likely be ups and downs.Rising oil prices !!?
Nowadays prices of commodities are set by speculation and headlines focused on fuel supplies which has caused the trouble we now face. Supply/demand-lower production=higher prices, wait, then why am I hearing so much news about Venezuela/Canada considering doubling crude production? Higher crude prices only benefit these people: Oil especially and resource/raw material producers. Basically all other industries suffer maybe other than some hot technology related companies. High prices usually come from economic trouble which is what is creating the high prices now. If you look at recruiting as increased oil industry jobs, that will probably be a no. All oil is now pumped/refined by using high tech machines that require little physical labor. Improved technology has cost countless jobs in many instances.
The high price of oil is caused by the manipulation of the supply of oil by the oil companies and the energy market. As you are probably aware of by now the world economy has actually slowed just as the U.S. economy has. But they still blame the high prices on the economies of the world growing faster then the oil supply. The high prices are the direct result of greed!