I have a Ph.D. but largely due to inertia-could not figure out what else to do, and did not want to live in Texas. I respect those good Geologists who do research, and work with one of them. But, non Ph.D research geologists are very rare-it would be a huge challenge to get funding without a Ph.D now. I don't use the "Dr." title and never has, as it is a barrier to those good geologists/geophysicists without Ph.D (as suggested by Roger...)
Chris