The oil and gas industry receives a lot of attention—both good and bad. And this attention can often give way to common misconceptions. It’s hard to trust all that you hear, and it’s even more difficult to understand what goes on behind closed doors. While we can’t know everything, we can help debunk some of the myths to set the record straight.
The Supply Is Running Low From Peak Usage
Many people believe that peak oil usage is leading to a low supply or a complete lack of oil. These beliefs are largely fueled by the push for clean energy and the need to reduce consumption, but the oil and gas industry is not running out.
Globally, there are supplies and systems that continue to thrive and will continue to do so for years. Two contributing factors to a thriving oil and gas supply are reduced consumption rates and an increased number of consumers turning to renewable energy. Another is the care and maintenance of the tools used and how efficient these processes are becoming.
Oil and Gas Usage Will End With Clean Energy Shifts
Many believe the shift to clean and sustainable energy solutions means the oil and gas industry will halt completely. This is untrue. As more people turn to clean energy, the demand for oil and gas may slightly decrease, ultimately shortening its usage.
Overall, we can expect to see oil and gas remain in-demand mediums due to their widespread usage across various applications. Renewable energy will only be able to replace so many objects and functions, but it can’t replace everything.
Oil Landowners Make a Lot of Money
The idea that all oil landowners make a lot of money is a long-held belief. While producing land will yield high values, the process of becoming a producing landowner is relatively lengthy, and not every piece of land with rich oil running will be chosen to produce. Even when production begins, it can take years before profits are seen because of the cost of drilling and payout for equipment, manpower, and maintenance.
The Oil and Gas Industry Does Not Care About the Environment
The grand push toward clean energy leads people to believe that oil and gas create dirty energy and that the industry simply does not care about the environment. While this common misconception about the oil and gas industry is relatively difficult to shake, it’s important to understand that the industry itself does care a great deal about eco-friendly efforts.
There are several initiatives in place to support environmentally friendly and focused production efforts, including well-water production and reducing or eliminating fracking with diesel fuel.
Hopefully, these nuggets of information help shift your mind away from all the potentially negative connotations about the oil and gas industry and bring more clarity.
