What is the posit...
Follow
Find
86 views | +0 today
Your new post is loading...
Your new post is loading...
Scooped by Zachary Alden-Brown
Scoop.it!

Josh Loch of XTOEnergy Interview

I emailed current engineer Josh Loch of XTOEnergy a variety of interview questions. He responded within 20 minutes.

Zachary Alden-Brown's insight:

Dear Mr. Loch of XTOEnergy,

   If you could please respond to my questions thoroughly and go into great explanation. Thankyou.

 

    Much Thanks,

 

  Zach Alden-Brown

1. Why is the Oil Industry beneficial to our country?
The oil and gas industry benefits our country in many ways but I'll cover the main two areas, economic revenue and foreign policy, in my response.
The oil industry provides countless jobs and economic revenue to many areas of our country. While many people see at the direct impact of the individual oil companies providing the internal job opportunities for their company, the industry has a larger effect on alternative companies. Producing oil and gas takes a lot of money to accomplish. From hiring land men to negotiate out lease rights, to purchasing property to drill the well, to drilling the well, and then moving and refining the product to get it to a market. Each step of the process is like a smaller industry. Buying land and lease rights alone involves many lawyers, private citizens, government municipalities and company people all working together to accomplish the process. In Pennsylvania alone the Department of Environmental Protection is constantly hiring people to help process the permit applications for well pads. When it concerns getting the product to a market, many everyday products are made from oil or made possible by the oil industry. All plastics and resins, like water bottles and fiberglass, come from oil based chemicals. Many medicines are formulated with some type of petroleum base. So the oil industry effects many markets. Each new person hired may not work for the oil and gas industry but their job was necessary to support the industry or made possible by the success of the oil industry.
The oil industry in America has given us the opportunity to not rely on foreign powers for something our nation needs such as energy. With national support the oil industry in North America could provide enough energy, with oil or natural gas, to support our country's needs well into the future. With that freedom we can take stronger stances on political issues such as the conflicts in Iran, Lebanon, Saudi Arabia and Egypt. Currently OPEC can drastically control our economy by not allowing oil to ship to America.

2. Why is our country dependent on the oil industry?
I wouldn't say that our country is completely dependent on the Oil industry. But we are dependent on energy and economic revenue. The oil industry provides both. The technology isn't developed for wind and solar to be feasible for a mass energy supply. The nuclear industry has some environmental draw backs and a poor track record throughout the world. Coal is a fossil fuel like oil but causes more pollutants to burn than oil and especially natural gas. Oil and gas as an energy source is abundant and relatively environmentally conscious. So while I don't believe America is dependent on the oil industry solely, I feel like it's a good choice for America to rely on oil to provide energy, economics and many other products. 

3. How long will oil and gas be our main source of energy? Why?
As a guess I would say anywhere from 50-150 years. With advancements in technology happening so fast I don't see us making it two more centuries without somebody developing a better cheaper alternative. There's also so many alternative energies available that have minor flaws that make the impractical today, but possible in the future. Solar has two major flaws that are fixable but not in the near future. To gather solar energy takes a lot of surface area and a panel that contains very expensive materials, and there is no practical way to store mass amounts of energy efficiently to use when/where the suns not shining. The computer faced a similar dilemma. Motherboards were too large, too expensive and did too little in the 1950s to be practical. But continuously for the last 60 years, every 18 months the computer chip size has been cut in half, the memory it could support doubled, and the price slowly dropped. Now almost every individual doesn't go 1 waking hour without looking at a computer 1000 times smarter than water landed on the moon. Eventually I believe a better mouse trap will be invented but it will take time to refine, and develop into something America will use.

4. What is the positive and negative impact of the oil industry on our country, and what is it that we are doing to change the negatives? 
The positives were pretty well covered in question one so I'll try to stick to the negatives. The oil industry is by its very nature an industry. It causes change in whatever environment it goes into. It causes traffic on the roads, lines in the store, rental and home prices to go up and a general hustle and bustle in an area. This can be a great disruption to private citizens. While most of the citizens benefit by the industry economically, either directly or indirectly, some people would rather not be bothered with the impact, whether they are economically benefitted or not. This issue can compound itself when companies working in the industry are unaware of this. Companies can frustrate and irritate many people by just not understanding the impact they are having and trying to take measures to lesson that. While our company makes it a priority to insure we are good neighbors in the areas we work and take every precaution environmentally and otherwise, we have followed behind other companies into areas where the public has been mistreated by a company. We spend a lot of effort to correct those situations. 

5. What opportunities does the oil industry give americans?
Question one?

6. What is the biggest misunderstanding that people have about the industry?
That the oil industry always makes a profit. Many companies are going under and having to sell out during this down turn in the economy and gas prices. The oil industry seems to be either in feast or famine modes. When oil and gas are in demand the industry can be turning in record profits and making millionaires out of private farmers that have a well. All of that makes great news stories, but people rarely pay attention when 20 year established companies who made billions in 2008 are shutting their doors in 2012. Like I said earlier everything in the oil and gas industry is expensive and if you don't have the income on oil and gas sales, it cost a lot to stay in business waiting for it to come back around.  

7. What is some facts that most people don't know about the industry?
That they employ many, many people to insure that they are safe and environmentally conscious. Most if not all companies in the industry have a division of their company that only concentrates on doing it safer and cleaner. This department has a loud and often a louder voice then production/operations in decision making and direction for companies. Most people believe that the industry will do anything for a buck but our company and other company will not hesitate to step back from major profit to save a life or an environment.

Josh Loch

more...
No comment yet.
Scooped by Zachary Alden-Brown
Scoop.it!

UK Oil and Gas Industry gives boost to British Economy

UK Oil and Gas Industry gives boost to British Economy | What is the positive effects of the oil industry on America? | Scoop.it
After two disappointing years brought about by tax uncertainty and consequent low investment, the UK continental shelf (UKCS) is now benefitting from record investment in new developments and in existing assets and infrastructure.
more...
No comment yet.
Scooped by Zachary Alden-Brown
Scoop.it!

Increase in US Oil Production Threatens Canada's Oil Sands | CICS ...

Increase in US Oil Production Threatens Canada's Oil Sands | CICS ... | What is the positive effects of the oil industry on America? | Scoop.it
Increase in US Oil Production Threatens Canada's Oil Sands. Posted on February 16, 2013 by CICS News Team. An oil rig in Northern British Columbia. The oil and gas industry is vital to the economy of Western Canadian provinces ...
more...
Zachary Alden-Brown's comment, February 25, 2013 8:53 PM
The net effect for the world would most likely be positive, because reduced oil prices increase global economic growth and raise the average of standard of living around the world. The contribution to the oil and gas sector of Canada’s export revenue helped rise the value of the Canadian dollar, which highly improved Canadians’ purchasing power internationally and raise the average household wealth of Canadians above Americans for the first time in history.
Scooped by Zachary Alden-Brown
Scoop.it!

Trillions and Billions: US Oil and Gas Sector Reviews Its Economic Footprint

Trillions and Billions: US Oil and Gas Sector Reviews Its Economic Footprint | What is the positive effects of the oil industry on America? | Scoop.it
For many decades the benefits of oil and gas development in the US have been overshadowed by the amount of money companies in the sector have made, the (RT @WestneyConsult: $1.1 Trillion: The total value added by the US oil industry to the national...
more...
Zachary Alden-Brown's comment, February 25, 2013 9:08 PM
The US oil and gas business drives job growth, contributes to local and the national economies and has shown huge potential shift economic and political power that America was born on.
Scooped by Zachary Alden-Brown
Scoop.it!

Behravesh: Shale Oil And Gas Has Led Industry, Economy To Prosperity - Oil and Gas Investor (registration)

Behravesh: Shale Oil And Gas Has Led Industry, Economy To Prosperity - Oil and Gas Investor (registration) | What is the positive effects of the oil industry on America? | Scoop.it
Behravesh: Shale Oil And Gas Has Led Industry, Economy To Prosperity
Oil and Gas Investor (registration)
The economy has seen 1.7 million jobs added to the workforce. Investments from foreign companies are flowing into the United States.
more...
Zachary Alden-Brown's comment, February 25, 2013 9:12 PM
Our economy has added 1.7 million jobs to the workforce. Investments from foreign companies are flowing into the United States. Even the trade deficit is repairing itself. The success of the shale oil and gas revolution has reached far beyond its creators and is a future project that will effect those decade after us.
Scooped by Zachary Alden-Brown
Scoop.it!

Shale oil production to boost global economy by $2.7tr - The Guardian Nigeria

BusinessDay Shale oil production to boost global economy by $2.7tr The Guardian Nigeria SHALE oil production could boost the world economy by as much as $2.7 trillion by 2035, while reducing global oil prices by up to 40 per cent, according to a...
more...
Zachary Alden-Brown's comment, February 25, 2013 9:24 PM
Lower global oil prices due to increased shale oil supply could have a major impact on the future evolution of the worlds economy because of the more output produced at the same cost. These effects could build up slowly as shale oil production spread across the map to produce an estimated rise in global GDP.
Scooped by Zachary Alden-Brown
Scoop.it!

Oil Industry to Benefit From Growing Global Oil Demand in 2013 - Marketwire (press release)

Oil Industry to Benefit From Growing Global Oil Demand in 2013 - Marketwire (press release) | What is the positive effects of the oil industry on America? | Scoop.it
Oil Industry to Benefit From Growing Global Oil Demand in 2013 Marketwire (press release) NEW YORK, NY--(Marketwire - Feb 20, 2013) - The Oil & Gas Industry has experienced a good start to 2013 as improvements in the global economy has seen both...
more...
Zachary Alden-Brown's comment, February 25, 2013 9:28 PM
America has raised its 2013 growth forecasts by 110,000 barrels per day to 1.05 million barrells per day in 2013. Global oil demand is expected to total 90.2 million barrells per day this year.
Scooped by Zachary Alden-Brown
Scoop.it!

Reports: Shale Gas Bubble Looms, Aided by Wall Street ...

Reports: Shale Gas Bubble Looms, Aided by Wall Street ... | What is the positive effects of the oil industry on America? | Scoop.it
In other words, there are two spheres of economics unfolding: day-to-day in-field shale oil and gas production economics and Wall Street high finance economics. It's the insane economics of Wall Street investors fueling the ...
more...
No comment yet.
Scooped by Zachary Alden-Brown
Scoop.it!

Oil industry outlook bright as EIA, OPEC raise global demand - Saudi Gazette

Oil industry outlook bright as EIA, OPEC raise global demand - Saudi Gazette | What is the positive effects of the oil industry on America? | Scoop.it
Oil industry outlook bright as EIA, OPEC raise global demand Saudi Gazette JEDDAH – The oil & gas industry has experienced a good start to 2013 as improvements in the global economy has seen both the US Energy Information Administration (EIA) and...
more...
No comment yet.
Scooped by Zachary Alden-Brown
Scoop.it!

Oil industry to Obama: Energy production, not taxes, will cure economy

Oil industry to Obama: Energy production, not taxes, will cure economy | What is the positive effects of the oil industry on America? | Scoop.it
Oil and gas industry leaders are urging President Obama to forgo tax increases in his second term and instead embrace more domestic energy production as a way to jump-start the economy and create jobs.
more...
Zachary Alden-Brown's comment, February 25, 2013 9:01 PM
There is a new energy sources out there. In reality, our energy supply is no longer limited,foreign that is, but is now American and abundant, greatly improving our national debt. If we seize the opportunity our oil industries give us, we will be positioned to lead for decades and realize the economic and energy security benefits of that leadership.
Scooped by Zachary Alden-Brown
Scoop.it!

Shale oil production to shake up global oil and gas markets

Shale oil production to shake up global oil and gas markets | What is the positive effects of the oil industry on America? | Scoop.it
These effects could build up gradually as shale oil production rolls out across the world to produce an estimated rise in global GDP of around 2.3-3.7 per cent in 2035. This would be roughly equivalent to adding an economy ...
more...
Zachary Alden-Brown's comment, February 25, 2013 9:04 PM
The global impact of shale oil could change the way the world’s energy markets over the next 20 years, resulting in way lower oil prices, changing geopolitics and new business models for oil and gas companies.
Scooped by Zachary Alden-Brown
Scoop.it!

North Dakota Oil Boom Driving Economic Development - Fox Business

North Dakota Oil Boom Driving Economic Development - Fox Business | What is the positive effects of the oil industry on America? | Scoop.it
CNBC.com North Dakota Oil Boom Driving Economic Development Fox Business New technologies and drilling techniques propelled the oil industry—and economic activity—in North Dakota, making it the nation's second-largest producer of crude oil behind...
more...
Zachary Alden-Brown's comment, February 25, 2013 9:18 PM
The oil industry continues to expand in North Dakota, employment and population have grown at a very fast pace. North Dakota is far and away leading the other 49 states in net migration. North Dakotas employment rate had a 14% increase in just two years, while the country’s population rose 1.7% in the same two years.
Scooped by Zachary Alden-Brown
Scoop.it!

Behravesh: Shale Oil And Gas Has Led Industry, Economy To Prosperity

Behravesh: Shale Oil And Gas Has Led Industry, Economy To Prosperity | What is the positive effects of the oil industry on America? | Scoop.it
For the first time in decades, U.S. chemical manufacturers are spending tens of billions of dollars to build and expand facilities. (Behravesh: Shale Oil And Gas Has Led Industry, Economy To Prosperity: For the first time in dec...
more...
Zachary Alden-Brown's comment, February 25, 2013 9:20 PM
Our economy has added 1.7 million jobs to the workforce. Investments from foreign companies are flowing into the United States. Even the trade deficit is repairing itself. The success of the shale oil and gas revolution has reached far beyond its creators and is a future project that will effect those decade after us.
Scooped by Zachary Alden-Brown
Scoop.it!

Positive Effects of Oil Drilling

Positive Effects of Oil Drilling | What is the positive effects of the oil industry on America? | Scoop.it
In the United States, the possibility of more oil drilling tends to generate controversy. Opponents worry about negative environmental effects, while proponents cite independence from foreign oil.
more...
Zachary Alden-Brown's comment, February 25, 2013 10:20 AM
Today in the U.S, oil drilling generate a lot of controversy. Outer country competition worries about the effect of the industry on the environment.