"Petroleum engineering is so high in demand right now " =))
Uh, have you been paying ANY attention to the drop in the price of Oil in the last 6 months??? 
Oil companies and drilling companies are laying off thousands of people, including engineers, capping wells and closing down operations across the country because it costs them MORE to bring oil to the surface than the $60 a barrel they can sell it for. There is an Oil glut in the US and oil refineries are running out of tanks to store anymore. And NO ONE is predicting a return to the days of $120/ barrel oil in the future. The days of Oil companies needing to hire thousands of petroleum engineers are over…
In my opinion, its the right time to consider another Engineering degree other than Petroleum studies.