The Oil And Gas Industry

1293 Words Oct 4th, 2015 6 Pages
The oil and gas industry is characterized by many processes, including exploration, resource extraction, refining, transport, and the trade of products. These resources are important to a number of other industries, and have become vital to the maintenance of industrial civilization. Not only does energy affect the big businesses on the coasts and across the oceans; but it also affects everyday people in rural America, from pump jacks to coal mines. It’s easy to see that technology affects retail, entertainment, telecommunications, and other fields. But the new technologies being adopted in industry draw a lot of funding, and affect the governmental decisions, industrial funding, and other aspects of economy and world relations.
The industry of oil and gas has evolved since the first oil wells and reservoirs were found. We have recently seen an array of advanced technologies to improve production efficiency, harvest productivity, and performance. These advancements do not seem to be slowing down. The energy industry has seen innovation in the form of hydraulic fracturing, advanced drilling methods, and the harnessing of natural gas. However, such advancements made in the technologies raise questions on the environmental impacts of oil and gas innovation. Legal issues are created and raised with the advent of hydraulic fracturing. This piece will discuss two large topics of interest seen in the realm of energy law. We will discuss whether the advent of new technology in the…

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