Top Facts About Oil Exploration

October 22, 2013 - Energy

Oil is still the cheapest form of energy, despite advances in wind and solar power. Historically, it has allowed nations to build wealth quickly, improving standards of living and increasing the personal wealth of citizens. Oil allows people to travel more widely, buy more cheaply and build more cost-effectively. Oil exploration allows countries around the world to build better futures for their citizens.

Oil & Gas Exploration Today
Oil exploration is more important than it has ever been. In spite of the development of sustainable energy sources, oil is responsible for 2.5 percent of the world’s GDP but accounts for one-third of the world’s energy supply. Add in natural gas, and these sources account for over half of the world’s energy.
New methods of oil exploration are allowing energy companies to find oil and natural gas deposits in deeper pockets than previously known. Deposits in the United States, Canada, and offshore of Mozambique, Pakistan, Norway and the Congo demonstrate that the industry is now able to find continuing supplies of oil to keep the world’s transportation services and manufacturing companies fueled for decades to come.

Even with improvements in renewable energy sources, the need for oil and gas will continue well into the future, as older vehicles and equipment continue to operate through their usable lifespan. These nations are expected to progress from petroleum and natural gas energy use to greener energies at a slower rate than highly industrialized countries. The need for the discovery of new oil and gas deposits will continue for many decades.

Marcellus Shale Natural Gas Deposits
The Marcellus shale deposit is estimated to contain 489-trillion cubic feet of natural gas in the entire area. It is quite large, extending over the northern part of the Finger Lakes area of New York State well into the Appalachian Basin. How much of this natural gas is recoverable in practical terms is not currently known. However, new developments in technology are making it possible to extract gas from this type of deposit more effectively, and further advances may be coming in the near future.
Skilled workers are in high demand in this field. People who have oil and gas job training will have a competitive edge in the energy job market. Technical colleges are responding to the market by providing Marcellus shale job training for those interested in this industry. These energy training programs help career-oriented students gain the skills they will need in the field as well as valuable practical experience.

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