17 Aug 3 Shocking Facts About the Oil and Gas Industry You Probably Didn’t Know
If you’re looking to build your oil and gas company, you should know how important your industry is to the country’s economy. With great power comes great responsibility, and you need the right tools to keep up with how fast the oil and gas world has been progressing.
Finding the right tanks, drills, and rigs is paramount to your success. Here are a few surprising facts about the industry that may convince you to put more thought into the quality of your supplies:
There are enough oil reserves to meet about 53 years of global production.
Unless we magically stumble upon better energy options that are easier to access, we will be dependent on oil and gas for the foreseeable future. 53 years may sound like a scarily low number, but rest assured that we have a lot more “gas left in the tank.” In the past decade, global oil reserves have increased by a whopping 27%, and the drilling efforts of experienced professionals like you are adding to those totals every day.
The industry provides about 9.8 million U.S. jobs.
This equates to a sky-high 8% of the total American economy, showing how important it really is to our development. You want to provide your company with the tools it needs to support the vastness of the industry, from learning new ways to store crude oil and investing in proper-sized storage tanks.
Fracking is the way of the future.
It’s important to invest in the tools that will help your company grow for years to come and avoid being left behind. 95% of new wells being drilled are hydraulically fractured, and over 2 million total oil and gas wells have been fracked since 2013 alone. The process is extremely cost-efficient and the technology used in fracking is advancing at an exponential rate.
These are just a few of the facts that should convince you to invest in reliable equipment that will do the job right the first time. The oil and gas industry is only growing, and it’s up to you to do your part and take it to the next level.