The Future of Oil and Gas
The use of technology in the oil and gas industry is a necessity for companies to be able to compete in today’s marketplace. Innovations and new technology are critical to the global economy to assist Canada to meet its national climate change targets. Installing and developing technology to reduce greenhouse gas emissions is an effective way to support industry development, creates new jobs in the country, and yields government revenues. It also reduces the costs of doing business.
Automation is one of the top three technologies being utilized by the oil and gas industry. Oil rigs require sophisticated equipment for extracting oil from rock formations hundreds of meters below the surface. Oil platforms are also heavily laden with sophisticated sensors for collecting data on energy transfer. These technologies have been in place for decades, but advancements in battery technology, computer software, and wireless internet have made them more efficient, less expensive, and easier to maintain. In addition, automated systems save time that would be spent performing menial tasks such as filling bottles at the spa or filling a truck with oil. With these newer technologies, the workday on oil rigs can be significantly shortened.
Another top technology being used by the oil sands sector is advanced bio-massage systems and GPS systems. Bio-massage systems use minerals, water, plants, fungi, minerals, and enzymes to stimulate natural healing responses, reducing stress and muscle tension and promoting optimal health. This new knowledge allows for more effective treatments with fewer side effects. Also, with more patients experiencing greater wellness, fewer injuries result from incorrect treatments.
A key technology currently utilized by petroleum companies is their ability to read magnetic and sound waves under the ocean’s surface. These waves are emitted from oil rigs, under the ocean, and also from exploration vehicles. Using sophisticated equipment, petroleum products firms are able to gauge petroleum products located beneath the sea floor. By using this technology, they are able to determine where and how much oil is located, how much is accessible, and how to better tap into this valuable resource.
Sound waves emitted from drilling into oil and gas fields are another example of advanced technologies used today in the petroleum industry. Sound waves allow drilling operators to communicate with prospective drilling sites in a variety of ways. They can use computer software to adjust the frequency of drilling sounds and use a variety of other communication tools to get their message across to prospects. In addition, drilling through the ocean’s surface allows engineers to look for better places to drill, which will improve overall efficiency and safety.
Fracking is another example of oil drilling technologies could increase profits and minimize losses. This method involves injecting water mixed with chemicals into the ground to break it open. When this water is allowed to dry, natural gas and oil can be trapped within the porous rock layers. This new technology promises to increase profits as well as minimizing environmental damage.
Advances in technology for oil and gas industry are expected to continue for years to come. Many of these new technologies will improve efficiency, while others will impact prices and how they are priced. Changes in the price of oil will also impact the American economy, which is one of the most important aspects of the energy industry. With so much riding on the outcome of these innovations, it is important that consumers become educated about what these innovations mean to the future of oil and gas industry.
If the United States does not begin to invest in and develop these new technologies, the future of oil and gas might be endangered. Oil and gas companies rely heavily on the Earth’s stability. Without this base, it becomes difficult for them to produce and profit from oil and gas. The Earth has an enormous amount of natural energy stored away in its layers. Fracking and other drilling techniques are vital to extract this natural energy, but without these advancements, the future of oil and gas might be bleak. It is time for the United States to invest in this country’s future, or risk losing it forever.