Some believe that while many financial resources are being invested searching for oil, it would be more beneficial to search for alternative sources of energy, namely wind and solar. My opinion aligns with this view to a very large extent. I base my view on concerns regarding the future of workers in the oil industry and in favor of new potential financial sectors around the globe.
The main reason for the need to look for new sources of power is the exhaustible nature of oil. There is a limited number of oil reserves existing at the moment in the world, which means that the intensive processes of extracting it from the ground will lead, one day, into oil running out completely. Yet, the oil industry fails to address this issue, and seems to not have a good plan for what will happen next. The complete exhaustation of oil resources will leave the industry obsolete, leaving countless of working hands with no occupation. For example, a fraction site that has 200 workers is dependent on oil in order to keep on operating. Once oil runs out from that site, there is a solid chance that the hundreds of workers whose salaries are based on the presence of oil at the site will become unemployed. Therefore, I think that instead of investing more in finding oil reserves, more resources must go into developing more sustainable sources of energy, such as solar or wind. Since these are inexhaustible sources of energy, a solar energy site, or a wind electricity generator facillity, will last as long as the sun shines and winds blow.
Furthermore, the investment in new sources of energy is also an investment in new economies. By building new sites for the production of energy, energy companies will be able to create new jobs and brand new sectors in countries that could benefit from them dramatically. For example, Zimbabwe, which is facing a harsh financial reality and high levels of unemployment will be able to employ hundreds of thousands of individuals. This is true not just for developing countries such as Zimbabwe, but also to developed countries that will have new sources of income with relative little effort, since as mentioned earlier, these are sources of energy that a plenty of already exists.
In conclusion, I believe that the search for more oil resources should halt, because it fails to provide a sustainable and clear future for the people who work in the oil industry, and because there are much better options, both for global sustainablity and for new emerging economies.