The General Industry Environment Around The Oil And Gas Industry

Houston, which is the fourth most populous city in the nation and the largest in the southern U.S. and Texas, has been developing strong economy, especially in oil and gas industry. During the last decades of the twentieth century, Houston focused on developing energy industry—which comprises oil and gas exploration and production, oilfield equipment manufacturing and wholesaling, and pipeline transportation. However, some economists doubt that depending on oil and gas too much could make Houston particularly vulnerable to economic downturns determined by energy prices, the national economy, and the value of the dollar against foreign currencies. In fact, oil and gas have driven the Houston economy and been responsible for 50% of the jobs related to the export of goods and services outside the area. This research focuses on analyzing some factors including the incentive programs (local and state policies about taxation) and state organizations including the Texas General Land Office and the Texas Railroad Commission as contributions to regulate and organize oil and gas industry in order to develop Houston economy healthily and prosperously. Besides that, facts and figures from secondary resources are showed as achievements of Houston in developing economy depending on oil and gas industry. Clearly, thanks to state and local policies and programs as well as these state organizations in oil and gas industry, Houston is a potential economy region whose economy is growing faster

One of the biggest political and legal issues that affect the oil and gas industry is the cause of changing of present climates as there are a lot of harmful petroleum products that can cause damage to the environment such as carbon dioxide cause greenhouse gas, sulfur dioxide cause acid rain which could eventually be harmful to animal, planet and worsen illness and heart diseases… Another issue

Oil and gas have been the world’s commercial energy sources in recent century and it still remain this important role in the 21st century. As industrial productions have grown by approximately 50 times during the 20th century, this led to tremendous increasing of the energy consumption. Presently, oil and gas account for almost 40 per cent of the world energy sources because they are unique commodities and easy to transport in many areas with low costs. The advances of technologies make petroleum become cleaner, safer and more efficient energy. Consequently, oil and gas could meet more strictly environmental regulations and comply with the widely demands of sustainable development. However, petroleum is a scarce resource and the demands of energy consumption will be increased. Humans try to improve recovery rates by enhancing technology and developing infrastructure for better accessibility. Presently, the volatility and high prices of oil market have been a significant cause for concerning among many countries. Even the increasing price trend in recent year, the market has still remained

The economy in the United States continues to struggle through a very sluggish recovery. We are constantly bombarded with terms like green, alternative or renewable energy sources as ways to save money and help the environment. However, there is not an alternative energy company that comes anywhere close to the revenues of the old-fashioned oil and gas industry. The “greenest” energy-as far as money goes- continues to be the multi-billion dollar oil and gas industry. What many people don’t know is that modern technology is helping this industry become more environmentally friendly. Despite gasoline prices almost doubling in the last six years, the rise of hybrid cars and a continued push to lower emissions. Americans have not slowed down on the highway or their demand for gasoline. The United States Transportation Statistics estimates that in 2012, there were 628 motor vehicles and gas per 1,000 people. This is a business that will continue to have demand despite the strength of the economy for many reasons. Demand for gasoline in the United States is just one small part of it.

Starting my petroleum engineering degree, the oil and gas industry was doing very well at the time.The price of oil was around a hundred dollars per barrel, new independent companies were frequently being created, and the employment rate after graduating with a petroleum engineering degree was close to one hundred percent.However, the outlook of the industry has drastically changed while being in school.The price of oil is now hovering around thirty dollars per barrel and many companies are now having to declare bankruptcy because the cost of new drilling is not economically feasible.This applies to production companies, service companies, and drilling companies.These days, more petroleum engineers are being layed off rather than being

Shale production and fracking methods have opened a whole world to the oil and gas industry. Just like the nuclear power, oil and “shale gas” are being used in wide varieties such as: vehicles and energy. Furthermore; natural gas and oil are used in a wider range than nuclear power. We need more

This thesis will study wide-ranging trends that impact the Oil and Gas industry and worker satisfaction. An assessment will be given to 300 employees of Oil and Gas companies in the southern USA, quarters to hundreds of big and small oil and gas businesses. Responses expected to be collated are typically from employees who had worked in the industry for a significant amount of time, putting them in a fine situation to remark on industry trends. The thesis/study shall first examine how the subjects feel about 12 diverse facets of these trends before determining the aspects of job security inspiration and job contentment of employees-in the sample-from big and small companies in the industry. It shall be the effects of inclinations as seen by the subjects that will compute the self-determining variable. The trends are gauged on two precise factors: household, and lawful and overseas. Workers of both small and big oil companies deem the local feature to be uniformly important, but worked of bigger firms consider the lawful and overseas feature to be more imperative than smaller firms do. Maybe, smaller firms for the reason that of their elasticity are better able to counter the unpleasant effects of decrease, job security, job approval, and universal motivation levels in the middle of employees of small oil companies were considerably advanced compared to employees of bigger companies. In the face of recent record high prices and earnings,

When thinking about how all this oil and gas gets from the platforms in the gulf to land to be produced, you will run across the phrase, “flow assurance.” Flow assurance is what makes sure these oils and gases get from point A to point B without any hesitations or problems. Its main purpose is to prevent hydrates, clogged pipes, and wax depositions. So can the oilfield industry survive without flow assurance, especially in deep water operations? By reading this, you will learn how important flow assurance is in this industry, and what serious problems can happen because of the failure of flow assurance.

“In North Dakota, the nation’s second largest petroleum producing state after Texas, the number of rigs has dropped to 65 from some 191 last year. More than 10,000 jobs have been lost. And unemployment insurance benefits have risen by a reported 115 percent” (Bobb). The Bakken Formation is the oil and natural gas resource in North Dakota. The Bakken Oil Field in North Dakota is young, at only ten to fifteen years old. It has experienced tremendous growth and success, but is now in its first recession or bust cycle. The drop in oil prices on a worldwide level has forced oil companies to stop drilling. Prices of Bakken Oil topped out over one hundred dollars per barrel, and now are in the teens. Because of the drop, it is not profitable to drill new oil wells. The result of fluctuating prices is a continuous boom and bust cycle in the oil industry. When oil prices drop, most people think of the positive sides and personal benefits of inexpensive fuel. However, many people do not take into consideration the negatives. People who rely on oil field production, as well as supporting industries are adversely affected through job layoffs and company bankruptcy (Bringe). As a result of lower oil and gas prices in the Bakken Oil Field, North Dakota has experienced overbuilt housing, a financial crisis, and resource company bankruptcy.

We expect that increased oil exploration overseas will adversely affect the domestic oil industry by lowering the domestic oil price and causing local producers to lower production costs by cutting overhead. We expect these cost cuts to result in an increased number of layoffs and cutbacks in large oil companies. These cutbacks will lower employee morale and decrease the level of job satisfaction and security.

The oil and gas industry happens to be the largest industry in the world as it is the singular point of growth for a civilisation. Its importance lies in the fact that it is a fundamental aspect involving every individual’s lives from petrochemical products to transportation, heating and electricity fuels. Edwin Drake in Titusville, Pennsylvania drilled the very first oil well during 1859 and it paved the way to the beginning of the oil industry in America.

The oil and gas industry has been largely dependent on the collaboration between oil and gas companies and governments represented by environmental and regulatory agencies. This collaboration has been in place to regulate the practices and to protect the environment around the field operations sites. Some of the environmental agencies roles in the oil and gas industry includes:

The exploration phase takes about 5 years. It involves looking for oil and gas using seismic surveys. There is about 10% certainty to find oil and 75% certainty to find any oil at all. The exploration costs for a conventional oil and gas onshore is $10 - $15 million whereas it is $10 - $100 million in the deepwater’s.

Oil and Gas sector is one of the most important sectors and the backbone of all the economic activities across the world. All other sectors are dependent on the growth and activities in this sector. If there is any disruption in this sector, it can cause severe economic crises across the world economy. In this report, I have tried to discuss the four major challenges that are faced to this sector, provide a summary of these issues and then link their impact on the economy of projects. I have also discussed the effect of these factors of the economy, society and recovery of projects. At the end, I will give possible ways to mitigate the potential negative effects. I will also relate this topic to the economy across the world. The country’s economy depends upon the petroleum and gas industry. If there is any change in the petroleum industry, a significant change can be seen in the country’s economy.

The most vital industry of our time is the energy industry. It provides energy to all other industries and improves the quality of people’s lives. Energy helps us produce and preserve all basic necessities like food, fuel for transportation, power to keep machinery working and communication technology accessible. Energy is found in a number of different forms as chemical energy, electrical energy, thermal energy, solar energy, mechanical energy, and nuclear energy.