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RE: Technology represents an efficiency factor within the oil industry

in Project HOPE3 months ago

Oil production has been getting more and more difficult for decades. That is because most of the oil fields are decades old and the remaining oil that can be extracted is harder to get at. This in turn reduces the ratio of input energy to extract energy. The new tech can certainly help this but for me personally, this is overshadowed by the damage of releasing more carbon into the atmosphere. In my view, let's invest in renewable energy tech rather than more hydrocarbons being extracted.

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Certainly while the deposits are being depleted it is becoming more difficult to extract them, for example recovery mechanisms such as fracking are being used which has a negative environmental impact on the environment, so you are right in saying that renewable and clean energy is the future.

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