Oil and gas are vital for our quality of life and future successes. From our clothes to our cell phone, to make the earth an interconnected village, almost everything around us requires oil in some form or the other.
For something, which has a diaspora of uses, oil has a terrible reputation. One primary reason for the bad reputation is fracking and inadequate maintenance and practices that occur in the fields. Oil companies should prioritize their environmental impact as well as their support. The second part is the easiest as now it is possible to get complete oil field services with one call.
There are a lot of myths about the oil industry. We have debunked a few of them for you.
We won’t need oil and gas shortly
We are in the centre of a “green” movement, and everything from the straw we use to drink soda to our cars now have more sustainable alternatives. A lot of hybrid vehicles still have spots for oil. Maybe we might be able to replace oil, but it is not a possibility soon. Green technologies are expensive and face issues in becoming large scale as of now.
Oil is Liquid Gold
A saying made popular ever since oil was discovered, considering oil can be a profitable business. The saying, however, is flawed as fuel is not necessarily be liquid. Oil can be found both in liquid and a somewhat solid state. It is often locked up in other rocks.
The oil and gas industry cause global conflict
There are plenty of reasons for a battle. Anytime goods are imported or exported by countries, conflict may arise. These conflicts are a consequence of international business and not because of the actual traded product.
Oil companies make an enormous profit
Oil companies, on an average, generate 6.5% profit on sales, which is much higher than the taxes they pay. On average big pharma companies, the automobile industry, and even the banks have a higher profit margin.
Oil is a finite resource
Since the 1900’s we were told that we would someday run out of fuel, directly contradicting the fact that oil production has increased, and not diminished since discovery. Mostly because they did not consider technological advancement and ingenuity of humans to look for and find other extraction methods.
All in all, oil is not the demon that we think it is. Without oil, life would be like how it was in the 1800s, the quality of life would be inferior, and the mortality rate high.