At the moment, the hopes are high in the energy industry that the next four years will see some really positive change. After a period of years in which the domestic oil and gas industry has seen a tremendous dry spell thanks to a combination of foreign meddling and increasingly harsh restrictions and regulations, even the possibility of hope is a sign of real, positive change. Of course, the outgoing President isn’t going to sit on his hands until President-elect Trump is sworn into office in January.
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What Does a Trump Presidency Mean For American Oil and Gas?
It’s a brand new day, folks. With the election of Donald Trump as President of the United States (admit it, you were surprised no matter how you voted), it’s only natural to wonder what lies in store for the oil and gas industry in the next four years. Trump has spent a lot of time in the last several months doing his very best to befriend high-ranking members of the industry, so there’s nothing to indicate that good times aren’t on the horizon. However, President Trump will have to fight something of an uphill battle if he’s going to repair an already ailing industry.
The Oil and Gas Industry Goes Green
In spite of very public comments to the contrary, the oil and gas industry is consistently making strides to ensure that mother Earth keeps spinning. Not only is the industry constantly providing brand new technological advancements that enable projects to extract shale gas responsibly, but several big name companies have actually banded together to put their money where their mouth is and fight climate change.
Hydraulic Fracturing is Off to a Rough Start in the United Kingdom
It’s been a really tough year for people hoping to expand fracking projects in the United Kingdom. 2016 began with Greenpeace dropping a fracking installation piece in Parliament Square, and it’s looking to end with one of the most aggressive anti-fracking campaigns ever launched. Or so it may seem.
Though fracking has been practiced by the United Kingdom to some extent since the 1970’s, the government’s latest attempt to launch new fracking projects within its borders has met with extreme resistance. Those people who may have hoped to profit from the expanded fracking projects may need to look elsewhere, and those who may have been a little worried about another nation actively seeking their own source of shale gas may not have much to worry about when all is said and done.
Advances in Lateral Fracking May Mean Fewer Wells and Larger Profits
In their effort to increase profit while reducing the strain on the environment, oil and gas companies are constantly looking for innovative ways to extract shale from the Earth. Depending on who you ask, the newest advancements for obtaining that shale differ greatly. Chesapeake Energy, for example, is practicing something called, “monster fracking” which could potentially boost well output 70 percent.
In Colorado, though, they’re hedging their bets on a new advancement in lateral fracking that may help reduce the number of standing wells while increasing the output of each location. The process has already been adopted by several companies like Denver-based SM Energy Company, Pioneer Natural Resources, and, funnily enough, Chesapeake Energy.