The future of the Oil & Gas industry
With a move general world-wide move towards carbon-neutral forms of power, it seems like an anachronism that oil and gas exploration continue around the world, however, may proponents argue that there will always be a requirement for these forms of fuel. Regardless of the new and emerging forms of transport, we’re still to achieve an affordable eco-friendly alternative to the trains, plains, and auto-mobiles (and other forms of transport) we so addicted to. If we’re going to travel, we’re going to ultimately be using fossil fuels – at least for the foreseeable future. Therefore, oil and gas exploration continue as normal.
One of the companies specialising in energy field is Total. You may recognise the name from the high street, however, many of the old ‘petrol stations’ have now closed being replaced by cut-price supermarket petrol stations. For this global company, Chemical enhanced oil recovery (also known as chemical EOR) is an ever-growing field of application as is hydrocarbon exploration. Opponents of the ongoing oil and gas exploration argue that many unique and marine habitats are being damaged by the engineering work, leaked oil, and escaped chemicals from these exploratory bases especially as it appears that the majority of new areas being explored is at sea. However, proponents of this drilling argue that technology now means that oil and gas exploration has never been cleaner or safer for the environment. The following shows a map of Total’s 2016-2018 high-impact exploration program:
Ultimately, however, it’s up to use to decide what happens to the oil & gas industry. Do we abandon the freedom we’ve become so used to? Or do we continue living our lives as we have with our reliance on fossil fuels for work and leisure? Until electric-powered planes become commercially viable and electric cars like Tesla become affordable, we rely only have one choice.