The Oil and Natural Gas Industry’s Effect on Oklahoma Oklahoma's oil and natural gas industry is giving us unstoppable progress for energy solutions, but the other parts of the nation are still searching for theirs. While providing jobs for the thousands of people who live in Oklahoma, the oil and natural gas industry not only donates to America's petroleum production, but it also produces millions of dollars for our state’s economy, schools, and roads. Making new headways in our industry every day, artificial technology, scientific breakthroughs, adequate new exploration, and drilling methods took place. Without these upgrades, we would not be able to extract oil and natural gas from challenging fields more efficiently than we can now. As capability rises, environmental impact will continue to go down. In 1897, a tower of surging oil divided the Bartlesville sky. Oklahoma's preliminary drilling swaged badly, brought forth by the federal controls on wellhead prices of natural gas applied to interstate commerce in the 1950s. By 1982, oil prices hit an all time high of $37.60 per barrel. Furthermore, the number of progressive drilling rigs in Oklahoma also hit a record of 882. The total quantity produced from the soul and natural gas industry in Oklahoma reached about 40 billion dollars in 2007. Also, through the gross production tax, oil and natural gas producers and royalty owners gave more than 2 billion dollars to Oklahoma used for teacher retirement, public schools, wildlife management, bridges, roads, and state colleges. Petroleum remains an indispensable Sooner State industry. Natural gas continued to grow in the early 1990s despite of the entire staggering bust that was caused by the plummeting world crude oil p... ... middle of paper ... ...understandable surge effects through the worldwide monetary precinct put the hamper on economics movement. Therefore, oil and gas prices succumbed. Oklahoma was continuing to rank near the top in both oil and gas manufacture in 2009. A likeness of the 2007 and 2009 industry anatomy show some interesting unemployment phenomenon. First of all, the overall level of jobs fell among both the wage and salary workers and the self-employed; the relative decline was much deeper among the self-employed (-11 percent) than the wage and salaried (-3 percent). Likewise, the relative decrease in jobs is harshly considered deeper on the drilling side of the industry (-33 percent) than for management (-3.5 percent). In general, jobs undertook dependence over 5,000 jobs and labor and income payments decreased from nearly 8.9 billion dollars to just over 7.6 billion dollars.
We discovered that the history of the oil industry along the Delaware River dates back to 1892. Since then, water port facilities, public transportation, and other forms of infrastructure have benefitted from this industry and undergone important development. More recently, however, due to the rising cost of importing and refining crude oil, a couple of refineries along the Delaware River are on the verge of shutting down. According to the report, the cessation of operations at these facilities has resulted in a direct loss of 1,800 jobs and an indirect loss of 15,000 jobs. In this situation, however, Delta Airlines spent 180 million dollars purchasing Trainer Refinery, for the purpose of lowering the cost of jet fuel. This purchase...
The main thing in natural gas is methane. Millions of years ago, decaying remains of
It is a known fact Pennsylvania is greatly impacted by the Marcellus Shale. The Marcellus Shale is a layer of black shale located under the Appalachian basin from Prehistoric times. Natural gas and oil are being extracted from this layer for their increasing economic value, with natural gas having a worth of $10 for every thousand cubic feet of it. Furthermore, improved technology such as “hydraulic fracturing” and “horizontal wells” has made Marcellus drilling more efficient and has increased the implementation of the drilling as a source of economic opportunity for not only drilling companies but for the whole state of Pennsylvania (“Marcellus Shale”). An important part of this Marcellus activity is that “most drilling is occurring in rural areas” according to Joseph Morris, a poll analyzer from Mercyhurst College (Begos, Kevin. “Gas”). Amid the economic opportunity, farmers in these areas are resistant to signing over their farmland to drilling companies. Bradford County farmer Carol French, who wrote an editorial in The Patriot News, stated, “Has anyone considered how these gas developments and industrial uses on farmland will impact agriculture production for years to come if a farmer does not have the necessary means or information to negotiate protection measures?” She fears that drilling will ruin rural property and thus unnecessarily change or hurt farmers’ economic way of life (French). However, because of the vital economic benefits that Marcellus Shale drilling has for Pennsylvania, farmers in rural areas of the state should choose to allow drilling on their property.
Pennsylvania, along with being rich in coal, is now receiving kudos for its participation in the production of natural gas. An article composed by Madelon...
Because of fracking within our nation we are experiencing an abundance of cheap natural gas that provides power for hospitals, schools, homes and mass transit systems. Because of this sudden growth and development the job market has massive opportunities available for Americans. The regions that have seen the highest growth in these opportunities are in Texas and North Dakota. Additionally North Dakota has seen the highest jump in income by 7.6 percent and the lowest unemployment rate in the United States. However what is ultimately shaping this economic boom is our dependence on fossil fuels. With the ever present dangers to the environment “fossil fuels will lead to increased emissions of greenhouse gases and an acceleration in climate change, the extraction of these materials will involve ever greater cost, danger and environmental risk as energy firms operate deeper and in more problematic rock formations (Klare).” Because of the end of easy access deposits the increase investment of time, money and resources becomes more valuable the deeper we extract and the more we choose to extract the more we pollute. The amount of resources that is invested into a single facking site is staggering. More than 8 million gallons of water can be used in a single frack and laced with over 600 chemicals. Some of these chemicals are known carcinogens and dangerous toxins that cause harm on
In the late nineteenth century, the oil industry was open to everyone. Sensing the commercial potential of the expanding oil production in western Pennsylvania in the early 1860’s, he built his first oil refinery near Cleveland in 1863.(3) He created new oil related companies such as engineering and pipeline firms that seemed to be independent operators. Rockefeller and his close colleagues, Andrews and Flagler, secretly co...
Throughout the past three decades, energy has been a perennial issue in United States politics, economics, and media. The main concern surrounding this topic is the idea of energy independence and how the United States should proceed into the future. Energy independence relates to the goal of reducing United States dependence on importing foreign oil and other foreign energy sources. This desire aims to maintain energy dependence domestically so the United States can avoid reliance on any unstable countries and be detached from global energy supply distribution. It is currently being speculated that the United States might not be too far off from this goal. America’s dependence on foreign oil has gone down every single year since 2007. In 2010, the U.S. imported less than 50 percent of the oil the country consumed -- the first time that’s happened in 13 years -- and the trend continued in 2011 (Zhang.) Experts credit new technology as the reason the United States is within several years of again becoming the biggest oil producer in the world, and perhaps two decades away from full energy independence. Hydraulic fracturing, fracking, is the “lead” technology in this technological revolution. Fracking is an economically more feasible way of drilling for oil or gas in harder to reach geological formation. Within the past decade or so, combining hydraulic fracturing with horizontal drilling has opened up shale deposits across the country. It has brought large-scale natural gas drilling to new regions that may not have had accessible deposits in the past. These areas have greatly benefited from the addition of this industry to their local economies. Certain are...
One of the ways the oil boom has helped is by creating new jobs for people. Unemployment has decreased and employment has increase since the oil boom moved into my hometown. For the month of March 2014, North Dakota had the lowest unemployment rate at 2.6% and it has been steadily decreasing since 2009. The chart to the left shows the United States unemployment rate for the month of March.
The recent advances in fracking technology has enabled us to reach previously unreachable reserves of natural gas and oil, “In 2008, after the breakthrough, the amount of domestic natural resources surged to 2.5 quadrillion feet. In other words, in just one year's time, we expanded our access to domestic natural gas by 66 percent”(Simmons ) and these reserves are huge. They are estimated to contain enough natural gases to power America for hundreds
Drilling for natural gas has been going on since the early nineteenth century and our energy consumption has increased dramatically since the beginning of the Industrial Revolution. In the last few years fracking has been making headlines in the news, however not for particularly good reasons. This method has been around since the 1940’s but has gained popularity as a way of tapping natural gas in recent years due in part by the oil crisis and tensions in the Middle East. Since the U.S. has an abundance of natural gas trapped beneath its soil (Daniel 2) one may think that this is a great direction that we are headed in order to sustain our energy needs and not be dependent on foreign oil.
As the head of Shell Oil Company, Marvin E. Odum argues for the expansion of offshore drilling in his article; making claims for the benefit of the United States. His article covers the fact that America has become highly dependent on imported oil from foreign countries and that this is no help to the economic crisis of today. With a few facts for backup, Odum discusses the benefits that the expansion of offshore drilling will bring to the United States. Being the president of Shell Oil, his credibility on the topic is undeniable, as he makes his argument for expansion.
In the 1980’s, Americans thought that the decline of natural gases and oils was an irreversible impact (Davis 178). This led us to be dependent on other countries and pay them to provide us with these goods. However, with fracking being readily available, we can become less dependent on other countries to supply us with what we need (Davis 178). Today, fracking accounts for 56 percent of the natural gas we use and 48 percent of the oil, as recorded by the EPA (Davis 178). Fracking has caused the United States to be not just one of the top producers in the world, but the top producer (Davis 178). Researchers, scientists and even experts believe that fracking will send us on our way to being energy independent (Davis 179).
Since the early 2000’s, after new technological advancements in fracking and the discovery of large shale reserves across the country, fracking has increased domestic energy production substantially. Shale gas production has increased 20% from 2005 to 2012, promoting a more prosperous economic demand for domestic energy solutions (Pritchard). The demand for transportation vehicles, fuel, housing and water also increases with the expansion of fracking. Furthermore, the increase in fracking has increased employment significantly. In a country struggling to rebound from a recession, well-paying jobs are easily accessible in the booming oil field. This is evident in the prosperous state of North Dakota, in which the unemployment rate has fallen to 2.8 %( Gottesdiener). However, although this industrial expansion creates temporary employment, the consequences of mismanagement may also cost millions of dollars to repair. Fracking has the potential to create environmental damage such as water contamination, radioactive spills, and increased seismic activity that could cost thousands of dollars in damage. The cleanup of drinking water contamination is difficult and expensive, and ultimately rarely attempted. Moreover, the cost to replace the drinking water of contaminated homes and communities also cost a substantial amount of money (The Costs of
So at $50 per barrel the benefits of producing 10 billion barrels of offshore oil would be $323 billion greater than its costs” (Bailey 1). These numbers say it all, they directly suggest that the costs of oil drilling and fracking and the amount of revenue it is bringing our economy it outweighs any risks and
Myers, J., & Lyford, M. (N.D.). Petroleum and Peak Oil. (pp. 1-109). University of Wyoming. Retrieved from http://www.uwyo.edu/smtc/_files/docs/projects/qr%20stem/cohort%204/symposium%201%20laramie%20june/myers/peak_oil.pdf