Trends in the Oil and Gas Industry

Posted on October 18, 2011

by David Murphy

While it is difficult and often impossible to predict the future of an industry where the value of the product fluctuates as much as the price of gas and oil has over the past 50 years, there are certain trends that provide insight.

From past experience, it seems safe to assume that technology, politics, and economics will continue to remain key factors in the oil and gas industry. For oil, demand has continued to increase and has outpaced production. While the United States is the largest producer of energy, it does not currently produce enough oil to supply the national demand. Because of this, it is also the largest importer of oil. Gas and coal are areas where some development is possible, but this will probably not produce enough in either area to meet the demand.

Areas of interest for international oil and gas development range from Africa to Asia Pacific and South America. Among unlikely new places to find recoverable gas and oil are the Arctic territories, which some analysts claim house 22% of the world’s undiscovered resources. Canada’s oil sands, located in the province of Alberta, are also making headlines as an unconventional place to find an efficient source of oil.

About the Author:
With over 15 years of experience in the oil and gas industry, David Murphy brings his expertise to his position as CEO of Murphy Energy Resources. One of the company’s main divisions is the Petroleum Landman Institute. Located in Baton Rouge, Louisiana, the school offers seminars and classes that provide everything a landman needs to know, from research skills to basic knowledge of real estate law. The courses at the Petroleum Landman Institute are taught by abstractors, attorneys, and working landmen in order to give students up-to-date knowledge of the field.

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