The Oil And Gas Business Essay

The Oil And Gas Business Essay

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There are certainly a great number of opinions on the current crisis the oil and gas business faces but in speaking with Rick Bott he shared with us his opinion he has about the sharp downturn of the market. Rick Bott has been in the oil and gas business for over three decades, consequently, his opinion is one to take note of. Rick Bott stated the oil and gas market experiences peaks and valleys similarly to all markets (Rick Bott, in-person interview with Cody Troutman, February 11, 2016). This crisis we are experiencing is a severe valley but it is a valley all the same. The market will recover steadily once the valley is over and trend back towards a peak. This valley is painful to the oil and gas business but at the same time, there are positives that will occur. At the moment, the companies overseas are flooding the market with crude oil to drive the price down and try to put the North American companies out of business. Many lost their jobs in the downsizing, money-saving efforts of the North American companies but the North American companies have been forced to innovate and when backs are against the wall the greatest innovations often occur. North American companies have started to use what are called unconventional technologies, which are the new innovations made in the last few years, to drill for crude oil in places it was previously thought unattainable. In the process, North American companies will be able to stockpile oil and prepare for market valleys in the future. The bottom line is people need energy and when the market begins to exit this valley, North American companies will be more prepared than ever to do battle with oversea companies at any price point because of their technological advancements t...

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In speaking with Rick Bott he revealed more about what today’s young professional needs to succeed in the business world (Rick Bott, in-person interview with Cody Troutman February 11, 2016). Rick Bott did not give the answers expected, instead, his advice was much more philosophical and extremely useful. Rick Bott’s first piece of advice was to never underestimate the value of hard work. He went on to say while this one may seem obvious it is astounding how few people actually follow this advice day in and day out. He said he managed to achieve his great success through hard work, not by being smarter or better than those around him. Mr. Bott stated there is no need to work with people you hate, if a person is a hard worker and stay true to what they desire, they will find a job they’re passionate about, most likely with people, they enjoy being around.

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