Christopher Elgin Tracy: Behind the Scenes of Offshore Drilling

1
The Importance of Oil and Gas In Todays Economy

• The oil and gas industry has both a direct and
  indirect impact on the domestic economy, with oil
  and gas prices directly affecting the health of
  the economy as a whole. 

2
Oil is the Major Energy Source

• Oil and natural gas combined provide over half of
  the worlds energy. Oil and natural gas
  are necessary resources.
•  
• A lack of oil and natural gas would have the
  country (and the world) grinding to a halt.

3
Domestic Oil and Gas Production

• Without the production of oil and natural gas in
  the United States, the United States would
  quickly become dependent on foreign supply. And
  once that occurred, the domestic economy would
   be controlled directly through the price of oil
  and gas exports. This has historically been the
  case before hydraulic fracturing led to the
  countrys energy independence. 

4
 Oil and Gas Prices Improve the United States
Economy

• The oil and gas industry has improved the
  economic outlook for the United States in two
  major ways. The health of the oil and gas
  industry has allowed the United States to begin
  exporting crude oil and natural gas rather than
  importing it, creating an energy market that will
  bring money into the country rather than sending
  money out of the country.

5
The Oil and Gas Sector Undergoes Digital
Transformation

• The digital revolution has greatly accelerated
  the pace of change in the oil and gas industry.
  Imagine if machines could communicate with each
  other and simplify our work. 

6
Impact on the Oil and Gas Industry

• In the oil and gas industry, significant changes
  are taking place. 
• Hanging Energy Demand  
• Obstacles facing the Oil and Gas Industry
• Opportunities in the Oil and Gas Sector
• Electric cars on the Rise

7
Proven Strategies In The Oil And Gas Industry

• The process of finding the optimal solution to a
  problem involves considering all the relevant
  factors. In the oil and gas industry, issues can
  arise occasionally. People may need to figure out
  how to obtain the oil and from deep beneath, mend
  broken pipes, or restart malfunctioning machinery.

8
Independence Required for Energy of Oil and Gas

• Oil has been largely controlled by OPEC, a
  conglomerate of oil-producing countries that have
  collaborated to price fix the oil industry for
  some time. The energy industry has been disrupted
  via shale oil through franking, thereby stripping
  OPEC of much of its power over the US economy.

9
Oil and Gas Companies

• The oil and gas industry is frequently divided
  into three segments upstream, midstream and
  downstream. While each of these areas has
  an independent companies, major companies in oil
  and gas are often considered integrated, meaning
  their businesses consist of a mix of upstream,
  midstream and downstream activities. Companies
  can be private, public, or state-owned, which
  impacts the amount of information available.

10
Thank You