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Learn about the five worst enemies of the oil and gas industry

2019-11-23T00:22:58.083Z



The oil and gas industry has always been fortified, but it is no longer the case, as it is now fighting all-out war with its enemies, such as government intervention and electric cars.

In her report published by Oil Price, the writer Julian Geiger touched on the five most ruthless enemies facing the global oil and gas industry today, in a war that could even be the enemy of itself.

An enemy to itself
The writer said that being an enemy to yourself is a very vulgar thing. In return, the oil and gas industry has succeeded in tarnishing its reputation by not fully complying with its environmental obligations.

According to the writer, companies such as Exxon, BP and Enbridge all bear the responsibility of distorting the public perception of the industry in general because of not making the right decisions and identical options, to address the enormous environmental disasters caused by some of the major oil companies, some of them never made an effort.

Pipelines for the safe transportation of oil and gas, for example, have many shortcomings that have led many people to criticize companies for failing to improve their performance and causing environmental disasters.

In the meantime, oil and gas companies seem to be busy charging each other. Moreover, it is clear that the energy industry is not seeking to promote itself and strengthen its position within the rest of the sectors, according to the author.

Deficiencies in oil and gas transmission lines have tarnished the reputation of the industry (Reuters)

Millennials prying
The oil and gas industry will be greatly influenced by the millennial generation that is fighting a silent war against all "dirty" things, things that cannot be shared, as well as all morally disgraceful things that fail to live up to an unrealistic ideal. Sufficient to make a positive change in the industry.

The rise of electric cars
A revolution in the transport sector and the rise of electric vehicles will pose a potential threat to the oil and gas industry in the future. Overall, the transportation sector in the United States depends on 69% of the total oil consumed in the country.

However, it is still unlikely to happen in the near future, as these cars need to create a dedicated infrastructure, as well as provide a variety of electric vehicles, including SUVs and trucks, which prompted analysts to say that this revolution It could happen over the next 20 years, the author says.

On the other hand, the oil and gas industry can counter this threat and ensure the continuity of the sector by looking for new ways to improve its efficiency in pumping crude oil, which will contribute to the maintenance of low oil prices and fuel cars.

Keeping prices low will encourage people to buy fuel-efficient cars, so high oil prices are another factor that will spoil the industry, drive people to use renewables and accelerate the industry's demise forever.

The rise of electric cars will pose a potential threat to the oil and gas industry in the future (Getty Images)

Government inefficiency
The writer said that many governments have contributed to the damage to the oil industry in their countries significantly, where government officials have "corrupt" in which huge deals, and enacted regulations that would hinder the participation of foreign oil companies, and withdraw support vital infrastructure necessary to maintain the continuation of the oil industry, As well as their failure to ensure safety and security to reduce the risks faced by oil companies.

Hollywood stars
The writer reported that Hollywood stars will influence the industry by supporting climate issues and raising awareness among their fans and followers about the environmental and climate risks posed by the industry.Although the list of celebrities defending climate issues is long, it seems that the Hollywood industry does not support them in this or Put it in the cinema screens.

The writer concluded that most of the enemies of the oil industry can be defeated, with the growing cooperation of the government and the unwillingness to change the public perception and regulation of the sector, all factors will support the industry for years to come.

Source: aljazeera

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