Is Easy Oil Really Gone?

Offshore drilling has become an essential part of today’s oil production and demand for energy. With the growth of population comes the increasing demand for oil. The oil industry today, is one of the most used providers of energy. Today in the 20th century the majority of the population in America has a car and cars needs gas to run. The oil reserves in the earth that are easily accessible via land are starting to run dry and are becoming harder to find. This is why we have begun to see more and more offshore oil drills. Although there are benefits of offshore drilling such as profit, lower gas prices, and becoming less dependent on foreign oil. There are also many drawbacks in which if something were to go wrong, the mistake would be catastrophic impacting the environment, the nature, and have trickling effects all around the world.

Oil is the product that each and every one of us use. It can be used for fuel, heating and even cooking. The most often known for unstable price is crude oil or gasoline. According to the The Economist, The main reason for price shifts of oil is oversupply. The oil production in Saudi rose 10.3 million barrels per day. This increase is the effect of a new method that I being applied to oil extraction. This method is called fracking, fracking is where they drill into tight-rock formations then gradually turning horizontal for several thousand feet more. This results to accommodations to multiple oil wells. This new approved method of oil harvesting has raised the productivity gains and reduced the cost of harvesting oil.

The age demographic segment of oil and gas industry is normally people in their late 40s and early 50s. There is also a group of neophytes but there are very few people with ages between the two groups. Also, most of the people in this industry are highly specialty engineers with experience and skills to make important decision about drilling. There are also other specialty people in the business sides to vision and plan the competitive strategies to compete with other companies.

When a new oil field begins its production process, nature takes its course and does most of the work. The natural pressures from the reservoir force the oil into production

The Problem with the immense amount of drilling companies in the area, is that land which was once used for agriculture and land which once was home to fields and forests are now being transformed into drilling sights. As of October 2011 the researchers estimated that 276.84 hectares (684.09 acres) of previously unaltered land had been converted to 69 well pads. Agriculture land has taken the biggest hit from the drilling companies, 458.58 acres or 67% of the land had been converted for drilling natural

America must wean itself off of dependence on foreign oil, and one valid solution to this problem is offshore oil drilling and production. America’s economy is heavily based on petroleum, as though it is the nation’s blood; a necessity for survival. About 25% of oil produced in the U.S. comes from offshore rigs. Most of the U.S. coastline has been off limits for oil drilling since the early 1980s. Due to environmental concerns after an oil spill off the coast of California in 1969, an offshore drilling moratorium was imposed. Since then, the U.S. has amplified its energy consumption to where it uses nearly 25% of the world's oil. Meanwhile, the U.S. produces about 10% of the world's oil. That has made the U.S. heavily reliant on imported

Presuming that a country has a coast it can use for drilling, excavating oil from depths of up to a mile is nowhere near effortless. In addition to common oilrig accidents, fires and spills, there are a plethora of problems that oil riggers can encounter including severe weather storms (like hurricanes) and inexperience in the remote oceans depths. Oilrigs are being used even deeper in the ocean creating new environmental and engineering problems. Dr. Joseph A. Pratt of the University of Houston, highlights the problems riggers encountered when drilling for oil in the Canadian sector of the Beaufort Sea; conditions were

I am very intrigued by the oil drilling industry. I really hadn’t put much thought into the industry until around three years ago. Since then I have seen many arguments on the pros and cons of drilling for oil either offshore or inland. Some of which I completely understand and believe changes should be put into place soon so that we do not cause more damage than necessary. . Numerous arguments though are just people looking to place blame and are not seeing the bigger picture. In order to appreciate the benefits of oil drilling we need to understand the process that happens, our daily consumption and finally how we can be more dependent with our own sources.

The issue of whether offshore oil drilling is a safe operation or not has been arguing for a long time in the United States. ( SPE International, N.D.) Drilling on water started in early 1930s in Louisiana by shallow-draft barges. Nevertheless, the first oil well on water was drilled in 9th of September, 1947 by Kerr-McGee’s unit Tender Assist Drilling (TAD) in the Gulf of Mexico (SPE International, N.D.). A year after year, oil companies used more and more sophisticated equipment to drill on water, but the number of spilled accidents has been rising since 1964 (Ivanovich, and Hays, 2008). After all, while

Oil Drilling has many effects on the environment from the air we breathe to the oceans that inhabit many species. While one of the outcomes of oil drilling is money, it is forgotten that money won’t help repair all of the damage that is done to mother nature. Not only does the outcome of drilling for fossil fuels affect the oceans, rainforest, etc. it also has an effect on local business’ and the health of humans. If people want change, they need to be the

BP (British Petroleum) is one of the leading companies that are delivering energy products and services to the people around the world. In this report, we studied BP’s risk management plan for preventing oil spill. The main reason for choosing BP and its oil spill preparedness plan is that the oil companies have become increasingly vulnerable to unwillingly cause disasters and BP is one of them. An event that highlighted this vulnerability and subsequently drew attention to the need to investigate, is the BP oil spill in 2010 was one of the worst oil disasters that affected environment adversely. Issues such as these have been a serious concern for the oil companies around the world.

A lot Scientists and oil field experts have been collecting facts and scientific evidences to try to predict the period at which peak oil will occur. Two of the scientists working toward this discovery are Colin J. Campbell and Jean H laherre. Those two scientists wrote an article about the aftermath s of the 1970 's oil embargo sppured reachees over the decline of oil, which resulted in erroneous conclusions due to various factors (78). In order to truly cast light on the issue of oil decline, Campbell and Laherrère merged a variety of techniques which comprise the examination of “the decline of aging fields” and “the diminishing returns on exploration in larger regions”, the extrapolation of the size

There is almost nothing in this world where there is no risk involved. Risk involved is a major topic of concern in everyday life more than ever before. This report gives an overview about the risks involved in everyday life and especially in the oil and gas industry.

Currently, the conventional approach is to aggressively explore and develop new fields. This has led to a growth in drilling deeper wells and looking to ‘off-shore’ sites for new production of ‘light’ crude. However, as recent events in the Gulf of Mexico demonstrate with the British Petroleum incident and the resulting clean-up costs and loss of credibility, this approach has risks. It

Since the past few decades, owning a car has become a necessity in order to commute from one place to another. However, cars do not work automatically, they require fuel. Since the past decade, the petroleum industry has become one of the leading industries impacting the nation’s economy. Oil has become an essential commodity as it is utilized in transportation vehicles, serves as a raw material for manufacturing plastics, and is utilized in homes for cooking. America’s economy is greatly dependent on petroleum as it is the “black gold” of the nation. The considerable significance of oil has led to the drilling of it, which is not only limited to land, but also the oceans. Offshore drilling is a method in which petroleum is extracted from underneath the seabed. It is one of the significant technological advancements in the past few decades. However, the ones who are involved in the process of offshore oil production are humans, and humans tend to make mistakes. In 1969, due to a human error, an oil spill occurred and natural gas, oil, and mud shot up the well and oozed into the ocean (“Offshore Drilling”). The oil spilled led to an environmental disaster which killed thousands of marine animals and distorted the environment. In order to prevent the same error, the government passed a moratorium in 1981, banning more than 85 percent of the country’s oil drilling sites (“Offshore Drilling”). The moratorium restricted the United States to mass-produce its natural resource.