3 Myths About the Oil and Gas Industry Debunked

Even though oil prices have skyrocketed to a hundred dollars per barrel, firms still use it because of a lack of alternatives.

An oil rig in the ocean

Because of the high oil and gas demand, the oil and gas industry has become highly profitable industry, but why aren’t more entrepreneurs setting up their drilling rigs? We’re glad you asked! The myths associated with the oil and gas are one of the reasons investors avoid stepping in this market.

Let’s debunk three myths about the oil and gas industry.

Myth1: Oil And Gas Wells Are Drying Up

With four billion metric tons of oil produced every year, it's understandable why people believe oil and gas wells are drying up. But are oil and gas resources drying out? We don’t think so!

Yes, these resources are finite, but we still haven’t explored a major chunk of fossil fuels. With advanced technologies and modern exploration strategies, many companies are on the lookout for new oil sites.

Myth2: Oil And Gas Industry Doesn’t Help The Environment

Yes, drilling oil and gas harms the environment. But many companies are trying to decrease their impact by adopting clean production processes. Firms are trying to use recycled well-water to reduce their carbon footprint. Many reputed firms are eliminating diesel fumes to reduce air pollution from fracking.

Myth3: Oil And Gas Can Be Easily Replaced By Renewable Energy

It’s no secret that the world is dependent on fossil fuels to generate energy as they contribute eighty percent to the energy sector. However, many companies believe that they can replace fossil fuels with renewable energy.

While it’s a great thought, we don’t think it's practical. Replacing oil and gas will take time as firms will have to adapt to renewable energy. Although renewable energy is clean, setting up renewable energy stations can be costly, which is why companies prefer to stick to conventional oil and gas drilling rigs.

Get Top-Class Instruments For Your Oil And Gas Drilling Rig

Want to kickstart your drilling project? It’s time to get exceptional drilling products from Contact Instruments. Their team has a combined experience of over ninety years in the oil and gas industry.



Clients prefer to use their products because they offer reliable and durable equipment. They’ve got a wide range of drilling instruments, including custom cables, mud pressure gauges, electronic gauges, weight indicator systems, load cells, trash pump parts, and much more. They also offer top-notch CNC machining services to help clients set up their drilling rigs.

So, what are you waiting for? Reach out to their representatives for more details.

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