The Future of the Oil Industry—2021 and Beyond

 Changing weather patterns, pollution-infested metropolises, and fast depleting fossil fuel reserves have all contributed to calls to end oil usage and shift to renewable energy sources instead. With the prices of solar panels and wind generators coming down significantly in the past decade and batteries costing half of what they cost a few years back, one would wonder how close we’re to ending our reliance on oil.

Windmills are a source of clean energy

How Fast Will be the Change?

Global leaders continue to draft plans to agree on how to curb global warming by reducing the dependence on fossil fuels.

While the coal industry has taken a significant hit in the last two decades, the oil industry has continued to enjoy global dominance as the lone driver of world industries. With leaders promising to shift their energy sources to renewable energy sources, it begs the question, how far away are we from seeing solar, wind, and nuclear energy replacing oil as the premier energy source?

President Biden claims to make the US free from carbon by the year 2035. To achieve this milestone, the US has to increase its solar and wind energy capacity to four times what it currently produces, making it a mammoth task and raising questions about how practical the goal is.

Here for a While

While the eventual change is inevitable, the people affiliated with the oil industry don’t have to lose their sleep in the short term, at least. Today’s talk of the town is electric cars, but only 2% of the total cars in the US are plug-in electric cars as building mass charging stations remain a challenge.

The US plans to shift to clean energy by 2035, but 2050 is seen as a more realistic figure by many. While the estimates won’t impact the oil industry in the short term, moving forward, they should start planning for a post-carbon era and consider investing in renewable sources in the future.

Mud pressure gauges


Do you require instruments like mud gauge and other drilling instruments for your oil rig? Contact Instruments provides essential drilling rig services with a wide variety of products and services to cater to your business needs. Reach out to them today to see how they can help you.

Comments

Post a Comment

Popular posts from this blog

How to Avoid OSHA Violations at Your Drilling Rig

Image
  The health and safety of workers in the oil and gas mining industry are major concerns. Exposure to hazards, extreme work environments, and accidents while operating heavy machinery means that oil/gas industry employees are at a higher risk of injuries and fatalities. As a result, the Occupational Safety and Health Administration ( OSHA ) has outlined certain precautions that help prevent accidents and keep your employees and worksite safe. Significant focus has been put on inspecting oilfield worksites, so you want to be prepared for any unexpected visits at your facility at all times. Staying prepared means that not only do you get to avoid fines and citations , but you also keep your workers protected. Let’s take a look at the top three violations on OSHA’s list, as well as the steps you can take to prevent them. 1. Inadequate Fall Prevention According to the National Safety Council, falls are among the most common hazards in the workplace, leading to approximately 50,000 severe i
Read more

What Is Overmolding And Why Is It Important?

Image
Overmolding is done through a process of injection molding in which two or more different materials are used to combine wires and make them into a singular component. To better understanding overmolding , it’s important to have a thorough understanding of how it works.   1.       The cable assembly is placed inside a mold 2.       Molten plastic material is poured into the cavity of the mold 3.       Once cooled, the plastic material solidifies into the shape of the mold and covers the junction point between the wire and its connector The Many Benefits Of Overmolded Cable So, why do people go through the trouble of combining wires into single components? The biggest advantage of doing so is increasing the longevity and reliability of cables and their components. ·          Better Flexibility With overmolding, the flexibility at the cable exit is strengthened. You might subject the cable to more pulling and strain near its connector, and with the help overmolding, there
Read more

What You Need To Know About Mud Pumps

Image
 If you're like most people, you've probably had a tough time finding the right mud pump with all the options available in the market This article will highlight some important things you should know before buying mud pumps. What Are Mud Pumps? Mud pumps are a machine with a vacuum that is used to pull water from low-lying areas and into the sewage system. The units are usually powered by electricity, but they can also be operated on gas or steam. They work by using air pressure to exert force on water, which then forms a stream in the pump hose. Once this stream is formed, it pushes the water through an intermediate chamber and out of one or two outlets before circulating back into the input chamber for re-injection. At this point, most mud pumps will have another outlet from which they can utilize the output flow downstream for agricultural purposes such as irrigation or crop flows. What Are They Used for? Mud pumps are usually used in municipal wastewater plants
Read more