Why are oil and gas so important?
Before, when we had only a small number of things to get us going through the day, it was pretty tricky for us to find something to live a more normal life. Ever since we discovered oil and gas, everything has changed significantly.
They are leaders in the energy market. They play a massive role in the global economy by being the world’s first-hand fuel resource. When discussing this industry where oil and gas are involved, we can say that the whole process and system are very complex. This industry requires more immense capital and state-of-the-art technology.
This industry, directly and indirectly, impacts the economy, with the prices constantly changing and affecting. It affects individuals and businesses in the US. It also affects the position of the US compared to other countries when talking about this industry.
When oil and gas are combined, they make half of the world’s energy. These resources are necessary. If, by any chance, there is a lack of oil and gas, not only the US but the whole world would come into chaos. There have been other resources that have been tested if they can contribute almost the same way to our energy, but we had no luck with it. This only says that oil and gas are sources we need desperately, and we can’t live without them.
If the US doesn’t have its own, it will become dependent on other countries. With this, the economy would slowly but surely start to collapse. The money and time that goes into providing them with this type of energy can be crucial to their existence. This has been the case before, where the US had to depend on foreign supplies. And with that, they had power over their economy.
Now, because the US has a pretty stable economy because of this industry, they have improved their economic outlook. The fact that the US can now produce more energy, even more, than they need for themselves, they can directly export it rather than import it. By doing this, they can bring more money to the country instead of giving someone their money. This goes all in a circle.
When the government spends less money on gas and oil, they can then focus on smaller businesses and provide them with what they need. With the prices being lower for gas and oil, this means that the prices for goods, shipping, and transportation would be lower as well. The US is strongly dependent on the progress of the oil and gas industry. Follow the link to find out more about this https://www.forbes.com/sites/judeclemente/2015/04/19/three-reasons-oil-will-continue-to-run-the-world/.
Let’s talk about what kind of products are being made from oil and gas. Some of them we might not even be aware of are made from them. Products such as transportation fuels, fuels for heating, fuels for electricity generation, road oil. These are just a few of them we named. Let’s take a look at one statistic and see the numbers going around in this industry.
In 2016 over 7.21 billion barrels have been consumed in the US, some being motor gasoline, distillate fuel, and jet fuel. This Is only for 2016, so we can imagine how it was before and after. Check this page out if you want to know more about this.
In every industry, no matter what it is, there needs to be a system of how things need to be done. When talking about the oil and gas industry, there has been made software which will help out with the distribution of oil and gas. This software is known as the Maximo software. How these software works are, it helps manage the assets like buildings, equipment, installations, fire extinguisher, vehicles. Also, it helps control the maintenance schedule.
It has been made to be supported by specified versions of Linux, Windows server, AIX. There are versions made with the purpose of them being a leverage to newer technologies. When talking about Maximo for oil and gas, we need to know that it is made to do more than just one thing. This software has been so successful in this industry that many companies like to use it.
With a continuously growing industry like this one, a software like this can make it or break it. That’s why this software has been sold to a major corporation known as the IBM. This shows that when you have something as successful as Maximo, people will try to get it and use it to its maximum. An industry big as this one can be a starting point or the finishing one to a country’s economy. That’s why the US is still the top leader in this category.