Business

 

 

LOUIS H. BRUNI

Leadership, strong management, and access to the right information at the right time to make effective decisions has never been more important as we move into a future characterized by the digital oilfield, instant communications and the opportunities presented by new technologies and new media. Effective planning and execution of shutdowns and turnarounds is essential to maintain product levels and reduce loss of revenue for the oil and gas industry, particularly if improper maintenance leads to an unplanned shutdown. Major players within the oil and gas industry know the importance of significant levels of planning in executing maintenance work. The economic impact from a number of unplanned shutdowns can be severe for oil and gas companies. Last year oil and gas contractors did not pay proper attention to maintenance. They were, also, unclear about the cost recovery payment.  Holding the industry to higher standards, recovery payments will no longer be capped by the government.  If the BP spill taught us anything, it’s that exploring for energy has safety risks, but the realization of these risks can get lost in all the excitement. What is increasingly evident is that shale gas is overwhelmingly abundant right here in the U.S.A. CEO of Chesapeake Oil, Aubrey McClendon, recently stated, “In the last few years, we’ve discovered the equivalent of two Saudi Arabia’s of oil in the form of natural gas in the United States. Not one, but two,”  So is he saying that we have twice as much natural gas in this country than they have oil in Saudi Arabia? “I’m trying to very clearly say exactly that”, was his response. Gas has nearly half the carbon emissions of coal, and no mercury.  Is natural gas still a fossil fuel? Yes. So, is it perfect? No. The answer is it’s not perfect, but for the next 20 years, natural gas is probably our best bet. And the good news is, we’ve got it. And we’ve got as much of it as anybody else in the world.

 

 

 

 

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