Petroleum Engineer – What to Expect and How to Become One
August 30th, 2011
Petroleum engineer is a qualified engineer who has specialised in the study of oil and natural gas and its various methods of extraction as well as other technicalities related to the field. A petroleum engineer has to deal with several factors including exploration of new oil field and wells. One has to assess the natural characteristics and also the production mechanism. You need to work with geologists, analysts, geophysicists, safety engineers, and environmentalists as well.
To become an engineer you need to take petroleum engineering at undergraduate level and also masters in the same field will give you better placements. But you need to have done science in the plus two levels. People who have done master in chemistry are also eligible to do masters in this petroleum engineering. As a petroleum engineer you can be hired by various refineries, and today natural gas and oil are the key features of an economy. You can also be hired by the Union and state department of Oil and natural gas as well as private and corporate giants can hire you as well. There are several universities that offer engineering in the field of Petroleum. The University of Texas Austin is the best in the whole of US in offering a course in this field. Stanford, University of Tulsa, University of Oklahoma, Colorado school of Mines, are other popular universities in the same field.
After finalising a college you need to apply and sit for entrance examinations to get admissions to reputed institutes. But just admission test will not do your high school grades are very important especially of maths, computer, chemistry, physics, biology etc. Computer engineering is a vast field you can choose a subfield for specialisation like drilling engineering, gas production engineering. This can be done in the final two years or at the master’s level.
Most of the Universities offer a four year undergraduate program and masters can be done in one year only. These Universities generally offer 100% placement. The starting salary of a petroleum engineer is anything around $58,000- $65,000 annually. The job of a petroleum engineer is very demanding can be in remote refineries with long working hours or at some research centre and thus they are given several perks by the company.
Education these days have become very expensive and especially if it’s engineering or medical. Most of these institutes offer scholarship programs and some bright ones can offer 75 percent scholarship on tuition fee and the fund amount can go up to hundred thousand dollars. But for availing these scholarships you need to have very high SAT scores. Students of the University can get various grants, as well as students’ loan depending on their performance.
To support the high education cost budding engineers can take up summer jobs which would not only enhance their resume and the remuneration would help in bearing expenses. These summer jobs pay $2,000- $5,000 depending on the ability of the student. Petroleum engineering is a demanding field but is among the highest paid engineering jobs.
Petroleum Engineering Colleges & Courses
June 29th, 2011
Petroleum engineering is the course which involves the production cycle of petroleum and natural gas. The course specifies 4 different stages for the production cycle of the natural gas. The stages are mentioned below:
1. Extraction
2. Purification
3. Production
4. Utilization
Students who wish to make their career in petroleum engineering field should possess the interest to know earth science because the job of the petroleum engineers is to remove the oil and gas reservoirs beneath the earth’s surface.
The petroleum engineering degree involves lot of travelling. Most of the petroleum engineer students travel the world or even live in foreign countries. It depends on the type of work which takes them to the places like deserts, high seas and mountains.
Petroleum engineers play a very important role in common man’s life. They serve people and provide energy to heat their homes, cook their food and fuel their cars. This is the only profession which opens the multiple doors for the students. The students or the petroleum engineers can work at drilling sites or work on a laptop or work indoors in a laboratory.
It is seen that in India there are very limited institutions which offer the petroleum engineering degree to the students. In India there is less awareness in parents about the petroleum engineering course. Few of the Indian institutions are mentioned below:
1. ISM Dhanbad
2. Rajiv Gandhi Institute of petroleum technology.
3. Pandit Deendayal petroleum university.
4. Maharashtra institute of petroleum engineering.
The course needs lot of hard-work from the students. The applicants, who apply for the degree of petroleum engineering should be ambitious and focused. In this engineering course the main importance is given to two things, oil exploration and processing of crude oils.
Also, the foreign countries have managed to gather more importance to the petroleum engineering colleges. Few of the foreign based petroleum engineering colleges are mentioned below:
1. West Virginia University
2. Stanford University
3. University of Tulsa
4. Texas Tech University
5. University of Kansas
The best way to explain the petroleum engineering degree is that, it is a procedure which makes the students capable to give mathematical and scientific means to design, to extract, process and refine the crude petroleum and natural gas. The procedure includes instruments and equipments, mining and drilling systems, processing and refining systems, storage facilities and transportation systems.
Due to the advanced technology, there is the availability of the online engineering courses. These are the degree programs which make an individual eligible for multiple careers. Students apply for the online programs so that they can study as well as work at the same time.
The constant running of the world highly depends on the job of the petroleum engineer. It is studied that the manufacturers make the use of petroleum for the manufacture of the products from medicines and cosmetics to plastics and textiles.
The petroleum engineer colleges also offer full time and the part time courses to the students who wish to make their career in the terrific field of petroleum engineering.
Petroleum Engineering Schools – How to Find Them?
January 30th, 2011
Petroleum engineering is a degree course which involves the extraction of crude oil or natural gas from below the surface of the earth.
Since, petroleum engineering program is not very popular among parents, there are fewer students who apply for the course and also there are fewer schools which offer the course of petroleum engineering especially in India. But it is proved that petroleum engineering is an essential field.
Due to the availability of high competition in the industry people are always ready to face the challenging jobs which include petroleum engineering to be one of them. Normally the petroleum engineering schools educate the students with the bachelor’s degree. But the students who chose to pursue their studies to obtain a master or doctorate degree will be eligible to opt for higher paid jobs in this diverse field.
The graduates who have passed out from the petroleum engineering schools will be eligible for the following jobs:
1. Civil engineer
2. Chemical engineer
3. Environmental engineer
4. Mechanical engineer
5. Biomedical engineer
6. Industrial engineer
It is studied that most of the petroleum engineering schools qualify the students in following four fields:
1. Mechanical
2. Electrical
3. Electronics and
4. Civil
The engineering schools lay more emphasis on subjects like maths and science. Few schools give importance to the other subjects such as research design and methods, structural designs, general engineering classes and laboratory work.
There are many institutes or schools which offer online petroleum engineering programs. An undergraduate engineering program, prepares the student with a well-rounded education, but the specialization is offered in one particular field. The schools provide proper education about the petroleum engineering that the student is capable enough to face any type of challenges and difficulties involved in this field.
The petroleum engineers get lot of opportunities to prove themselves. The petroleum engineering schools shares a very great responsibility of giving the highly qualified students not only to the student’s parents but also to the industry. The bright future of the industry is completely depended on the education of these engineers.
The petroleum engineering schools educate the students in such a manner that they can move into the other area such as entrepreneurship and consulting. The students can also opt for the field of sales engineering which is considered to be the most developing field. The schools also involve the system of providing scholarships to the students who really come out with flying marks and good percentage.
As the petroleum engineering field is considered to be one of the most challenging one, the schools give job preferences to the students who score the highest percentage. The big companies grasp the students from the schools itself and the institution or the school also supports the desired student in every possible means.
Since, the future of the petroleum engineer is filled with lots of opportunities and challenges, it is considered to be one of the highest paid jobs. Rest, depends fully on the qualification and experience of the petroleum engineers.
Petroleum Engineering Jobs – What Should You Expect?
January 30th, 2011
Petroleum engineering is a procedure which is related to the activities which includes the production of hydrocarbons which can be either crude oil or natural gas.
The petroleum engineers are offered jobs mainly in three fields which include Drilling engineers, Production engineers and Reservoir engineers. The engineers from this particular field are offered the following jobs:
1. Exploration and Well Logging
2. Advanced Drilling
3. Field sales engineer
4. Plant Superintendent
5. Associate Facilities engineer
The job of the petroleum engineers involves lot of stress and hard-work. Sometimes the job involves even the unpredictable factors. Actually the job of the petroleum engineer demands the individual to work directly from the field. Very rare the petroleum engineer is required to report at the desk for the report analysis and recommendations.
Due to the advanced technology and increasing competition, it has become really difficult and challenging to acquire the desired position by the applicants. The candidates should possess the qualities to face the unpredictable changes involved in this field. The proper qualification and the experience of the applicant make it easy for the companies to offer them jobs for the right and perfect positions.
It is a important for petroleum engineer to possess the bachelors degree in the field related to earth sciences. But it is also seen, that the applicants who possess only the bachelors degree, for them it is difficult to get job in some of the companies. So, more and more candidates are applying to pursue their bachelor’s degree on higher level.
The petroleum candidates should also possess special interest in the subjects of physical sciences and mathematics. There is the involvement of the analytical reasoning which proves that the student should possess the knowledge in chemistry and math.
As the petroleum engineer comes to an end of the degree, there is the availability of the wide range of the career options in front of him. The degree and the extreme experience of the students, which is gained at the time of the course, qualify them to be geologists, geophysicists, or energy economists. The petroleum engineer gets the flexibility to remain in the industry and at the same time apply for the posts of petroleum landman, drilling engineer, well-log analyst, chemical engineer or reservoir engineer.
The main job of the petroleum engineer is to find the safest and efficient means for extraction of crude oil and natural gas. As the procedure of the extraction gets over, then it is the responsibility and job of the petroleum engineer to break down the site by disassembling the drills and determining the amount of fossil fuel that rest in the deposits band also the depth, quality and recoverability of that supply.
With the minimum experience of only two years the petroleum engineers gets the opportunity to become the assistant to the highly educated and experienced petroleum engineers. After two years the assistant petroleum engineers gets the opportunity to and handle sites independently
Petroleum Engineering is involved in the exploration and production activities of petroleum as an upstream end of the energy sector.
Upstream, refers to the source of the petroleum, the petroleum deposit, usually buried deep beneath the earth's surface supplying flow to consumers as a river supplies the ocean.
The diverse topics covered by petroleum engineering are closely related to the earth sciences.
Petroleum engineering topics include economics, geology, geochemistry, geomechanics,geophysics, oil drilling, geopolitics, knowledge management, seismology, team building, team work, tectonics, thermodynamics, well logging, well completion, oil and gas production, reservoir development, and pipelining.
Petroleum Engineering Pay
Petroleum Engineering mainly deals with the activities of finding, extracting and producing hydrocarbons like gas and oil. Petroleum Engineers are responsible for overseeing the extraction process and perform studies to optimize the production in the most cost-effective way. They will be required to perform simulation studies and offer technical advice in the drilling process. Being key members in the extraction process, Petroleum Engineering Pay is very lucrative, especially in times when the World Petroleum Prices are at a high.
The latest survey in 2010 by the National Association of Colleges and Employers showed that fresh graduates in Petroleum Engineering are getting a Pay which is the highest among graduates. The average annual salary of these graduates was recorded to be $86,220. This happens to be the salary of an inexperienced graduate and for experienced engineers it is much higher as we will see later. It has also been seen for the past 5 years that the job placements for the petroleum engineers have been almost 100% from university campuses.
Petroleum Engineering Pay will also depend on the type of engineer one is. There are reservoir engineers who are responsible for the optimization of production of oil and gas and implementing better techniques for recovery. Next are the drilling engineers who are responsible for the technical details involved in drilling for exploration and production. Production engineers are involved in managing the interaction between the well and the reservoir. They have to control and monitor various processes and equipments that are directly involved in the production of gas and oil. As per the Bureau of Labor Statistics which is part of US Department of Labor, the median salary is $98, 380 among Petroleum Engineers. Starting salaries according to bureau was known to be $60,718.
Petroleum Engineering Pay also depends on the years of experience. A worldwide survey conducted by the Society of Petroleum Engineers in 2007 put the average salary of the petroleum engineer at $122,458. Apart from the salary these engineers also receive bonuses, car allowances, housing allowance and retirement benefits. If you take into account all these then the Petroleum Engineering Pay will work out to be much more.
Petroleum Engineering Pay is also affected by the demand and supply trends as in any industry. When the oil prices are high and newer oil fields have been discovered the demand for these professionals will go up and so will their salaries.
British petroleum Oil is single of the major and among the most excellent petroleum business in the globe. British petroleum makes use of a symbol of Helios which signifies energy in Greek and Helios corresponds to each outward appearance of energy whichever solar or innate gas energy.
British petroleum commenced functioning on 14th April 1909 and then it by no means gave the impression of glancing back. British petroleum on its expedition in the direction of victory combined with Amoco Corporation which is a US supported corporation. The corporation is having its H.Q. in London. British petroleum is mounting day by day and its petroleum goods are awfully well-known in the expanse of the globe, British petroleum is a dreadfully well-liked corporation and manufactures a quantity of the premium petroleum goods which get sold to other realms in each turn of the globe. British Petroleum Oil exploration has created a lot of jobs in petroleum. The Company creates its goods from the North Sea fields. British petroleum includes further than hundreds of oil ground and thousands of branches all over the globe. Some of the main British Petroleum Oil goods are as listed beneath:
BP to go – These are as well the sequence of shops which are managed in nations akin to New Zealand and Australia and they are being prearranged to proprietors as a area monopoly. Some of these stores have advanced to BP connect but a number of of them have degraded to BP shops. Castrol – Castrol is a totally BP brand and it is used for preserving the engine feat. A lot of of the populace imagine that Castrol is not a product from BP but in actuality BP is the authentic possessor of Castrol. Air BP and BP shipping – the aviation petroleum section is the AIR BP, the nautical petroleum section is acknowledged as BP marine and the shipping petroleum partition is branded as BP shipping. BP shops – these are the stores which are slighter in size and it is in possession of by private proprietors. British Petroleum Oil goods are from BP. British petroleum oil goods are acknowledged as the most excellent products more or less the entire planet. More than a few techniques are put into practice for the rationale of haul out of oil and innate gasses in these processing plants. British petroleum in addition hires a lofty number of employees each year and this gives the youthful and brilliant petroleum engineers a possibility to establish themselves.
Jobs In Petroleum
There are a wide variety of available Jobs in Petroleum industry. You have to figure out what jobs will suit you the best according to your qualifications, skill levels and physique. Some of the Jobs in Petroleum can be very demanding on the body and only a person with a strong physique can undertake them. The good news is that Jobs in Petroleum industry cover a wide range, starting from entry-level jobs as laborer to much more qualified Jobs Petroleum Engineering.
Jobs in Petroleum industry although demanding are also exciting and there are vacancies all over the world. You get a chance to travel widely and also relocate in different places in the world. The entry-level jobs you will mainly find on oil rigs and in pipe laying sites. Oil drilling companies always have a need for roughnecks and drillers and it is quite easy to find a job. The increasing demand for oil and gas all over the world and the new places where oil is discovered, make finding jobs in petroleum industry very easy.
To understand the variety of Jobs in Petroleum industry it is necessary to know how this sector is divided. We can start with the sector where the oil is explored and all the processes involved in its extraction. For exploration companies need qualified geophysicists and geologists who will perform rock analysis and other investigations to see whether petroleum is available in the area. The process involved in oil extraction is huge and a lot of qualified as well as unqualified manpower is needed. Oil rigs will typically have roughnecks, drilling engineers and so on.
The second part which provides Jobs in Petroleum industry is to do with transporting the crude oil to refineries and also the actual refining process. Here manpower is needed to lay pipes, routinely check the pipelines, chemical and production engineers, refinery workers in various departments and so on. The last part involves distribution and sale of the finished petroleum products. Here too different engineers will be required including sales and general office personnel.
As we can see the opportunities available in the petroleum sector is vast and there will definitely be a niche in which you excel. There are many job placement companies who specialize in listing Jobs in Petroleum industry. There are many such available online and it is easy to research for an opening which is right for you.
Petroleum Engineering Courses
Petroleum Engineering Courses are mainly designed to impart the knowledge regarding hydrocarbons and how they are produced by various subsurface activities. Hydrocarbons are either natural gas or crude oil and the Petroleum Engineering Courses teach various ways petroleum can be discovered, extracted and processed. The studies also teach the different distribution processes of the raw and refined products.
Petroleum Engineering Courses are available from universities and certain institutes. Usually these courses are for four years duration and the candidate is awarded an engineering graduate certification. There are also certain post-graduate courses which last two years.
A candidate who wants to pursue one of the Petroleum Engineering Courses needs to have analytical skills and an inclination for conducting research. The candidate also will need to be observant and have an eye for detail and be precise. Having team spirit will also help a lot as the petroleum engineer has to work in close consultation with other specialists like geologists and so on. The petroleum engineer will be involved in actual practical work and has to have problem-solving abilities and should be able to form quick decisions. The candidate should also be able to handle tight schedules and be able to keep to deadlines.
Petroleum Engineering Courses will typically have subjects like mathematics, social sciences, humanities, and introduction to engineering in the first two years. The student will also get to choose among subjects like Reservoir Petroleum Engineering, Physical Geology and Petroleum Engineering systems. The last two years will also include courses like Geostatistics, Reservoir Fluids, Drilling and Production Systems, Engineering Ethics, Petroleum Project Evaluation and Well performance and so on.
A candidate aspiring to take up any of the Petroleum Engineering Courses should make sure that the course is accredited. The Accreditation Board for Engineering and Technology Inc. (ABET) is the accrediting authority and gives its approval based on curriculum, facilities, commitment of the institution, improvement in the programs and faculty.
Some of the universities which are providing accredited Petroleum Engineering Courses are The University of Kansas, Colorado School of Mines, University of Alaska Fairbanks, The University of Oklahoma, University of Texas at Austin, Marietta College, Missouri University of Science and Technology, The University of Tulsa, Texas Tech University, West Virginia University, Pennsylvania State University, New Mexico Institute of Mining and Technology, Montana Tech of the University of Montana and Texas A & M University. All these universities provide a degree in Petroleum Engineering.
Reservoir Petroleum Engineering
Reservoir Petroleum Engineering is one of the specializations in petroleum engineering where the candidate studies everything about oil and gas reservoirs. Scientific techniques are taught to control problems in drainage which arise during development stage of reservoirs and get a production output which is economical. Reservoir Petroleum Engineering involves knowledge of the laws of chemistry and physics which pertain to liquid and vaporous crude oil, water and natural gas. It also involves knowledge of applied mathematics and underground geology.
One of the main tasks of the reservoir petroleum engineer is to make a correct estimate of the reserves. This report is needed by the regulatory bodies like the SEC and others. Apart from this Reservoir Petroleum Engineering job involves a lot of other important things which are directly related to the efficient and economical extraction of oil and gas. Being a key figure in the extraction process, the Petroleum Engineering Pay is also quite rewarding.
Reservoir Petroleum Engineering also involves carrying out simulations of the reservoir and studying them so that the recovery is optimal. The engineers have to suggest various techniques of gas injection or water-flooding with the view of maximizing recovery. After the extraction process is operational the reservoir engineer work involves close monitoring and surveying the work so that it remains cost-effective and also introduce programs that will cut costs. He also has to measure, record and analyze the pressure transients.
Reservoir Petroleum Engineering offers two areas of specialization. The petroleum reservoir engineer can be also someone who has specialized in both the areas. The first area of specialization is to do with production and monitoring. Here the engineer is involved in mainly surveillance activities and analyzing their findings. They will employ various empirical and analytical skills in their work to find the best possible injection rates and optimizing the production. They undertake material balance modeling, analysis of the inflow and outflow, and decline curve analysis to come to their conclusions.
The other area of specialization in Reservoir Petroleum Engineering is simulation modeling. Here the engineer will be involved in conducting simulation of the reservoir with a view to study it from different angles. These studies are directed towards planning and developing strategies which will optimize the gas and oil reservoirs. This specialization is mainly done on new fields and reservoirs where the extraction process is yet to begin.
As seen from the above Reservoir Petroleum Engineering forms a vital part in extraction of oil and gas.
World Petroleum Prices
World Petroleum Prices are affected by a variety of reasons. Whichever you look at it the obvious factors will have the economics of demand and supply and the effect it has on World Petroleum Prices. Most of the countries in the world are not able to meet their own demand with their local production and hence need to import petroleum. Some of the developed countries require increasing quantities of petroleum and there is a corresponding shortage in the world market as supply is limited to the existing oil wells. Even the discovery of new wells has not shown any major improvement in the supply and the world demand continues to rise.
A factor which seems to impact World Petroleum Prices is OPEC (Organization of Petroleum Exporting Countries). This organization consists of member countries like Iran, Iraq, Ecuador, Saudi Arabia, Venezuela, UAE, Algeria, Indonesia, Libya, Kuwait, Qatar and Nigeria. These oil producing countries account for 46% of the world’s petroleum production, and they form an alliance to regulate the supply. This alliance was formed so that they would not lose out on the price due to competition. They also saw that the prices were not too high as that would encourage certain countries to drill in new fields which are an expensive enterprise. Although the policies of OPEC contribute to a certain extent to the World Petroleum Prices they cannot completely control the prices due to the trading of petroleum on the futures markets of the world.
Futures trading in petroleum have been known to be a major factor in determining World Petroleum Prices. In many countries particularly the US the trading in New York Mercantile Exchange has shown how the prices of oil are driven in the country.
Many countries are realizing the cost involved in drilling for new oil and are making optimum use of Used Petroleum Equipment. They are also employing better technology which will cut the cost of production and keep the output cost effective. These developments are also affecting the World Petroleum Prices, as more countries are increasingly involved in prospecting and drilling for oil with these new techniques. Other technologies which reduce the dependence on oil are also being implemented by many countries. This will bring down the overall pressure of demand for petroleum and accordingly affect the World Petroleum Prices.
Sudden spurt in World Petroleum Prices are also seen when there is a crisis in any of the major oil producing countries. The usual crisis is war, and this has caused many fluctuations in the World Petroleum Prices.
Used Petroleum Equipment
The petroleum industry all over the world uses a phenomenal amount of equipments which are put to tremendous use daily. These equipments are costly and require adequate maintenance for optimum performance. Many companies to gain an edge in being cost effective turn to Used Petroleum Equipment. There are many companies who deal in Used Petroleum Equipment and they are useful for the organizations who want to rid themselves of the equipment to create space for the new ones and also for companies who want to get the used equipments.
Equipments are needed in every step of the way from exploring to the final supply of petroleum products. In fact Used Petroleum Equipment has quiet a role to play in the Petroleum Supply Chain. Most of the companies who deal in Used Petroleum Equipment have a huge inventory of gas pumps and dispensers. Some companies also refurbish this equipment and some resell them in the same condition. Many of these companies who buy Used Petroleum Equipment will buy any type of gasoline dispensing equipment and also advertise their ability to pay upfront for the equipments. Some of these companies are well established and their inventory will be changing daily as they procure Used Petroleum Equipment and at the same time have a very good sale.
Trying to find particular Used Petroleum Equipment can be very easy from these companies. You can contact them and tell them of your requirements and if they have it in stock you can get it immediately and if they do not have it they will keep a note of your requirement and call you immediately on getting it. Some people might require particular parts of Used Petroleum Equipments and this too is supplied by these companies.
Oilfield equipment is also in tremendous demand as more companies are prospecting and drilling for oil all over the world. Many small companies with limited capital require Used Petroleum Equipments to be cost effective. The companies who supply Used Petroleum Equipments have a huge inventory and they will include each item in different models and manufactured by different companies. You can choose as per your preference of manufacturer and also decide regarding the condition of the equipment you are looking for. The companies dealing in Used Petroleum Equipments will be receiving machineries in all kinds of conditions and the buyer has to do inspect it and see if it is in an acceptable condition.
Petroleum Supply Chain
The Petroleum Supply Chain involves a lot of challenges in the logistics area. In fact these challenges in the Petroleum Supply Chain have a major impact on the prices and derivatives. Even the emerging Canadian Petroleum Industry has to have an effective Petroleum Supply Chain to get the best results from the prospected oil. When we consider the downstream Petroleum Supply Chain there is a lot of liquids or various grades that have to be stored and transported to refineries and then to the final retail outlet. It is not just gasoline we are talking about here but a whole variety of oils which constitute the finished products.
In the Petroleum Supply Chain we find gas and oil traded in almost all the stages. Trading takes place at the distribution terminals and even when it’s in the pipeline or at the refinery. This makes the path of Petroleum Supply Chain very complicated and it is difficult to draw a direct link between the raw product and consumption. The time taken in the supply chain becomes unpredictable and sometimes takes longer than expected. Some experts feel that even though there is long time taken, gas and oil are easily portable and hence can cut short the supply chain.
It has been observed that certain factors involved in Petroleum Supply Chain drives the prices of the finished product. Many feel that about one-third of the price of gasoline is driven by future trading considerations. This means whenever there is crisis traders tend to form an opinion on the future availability of the product. The remaining two-thirds of the price is dominated by the usual costs and margins involved in Petroleum Supply Chain.
Even when we see the performance of some of the best Petroleum Supply Chain management companies, not one of them have been able to be good in all the aspects. Some have excelled in planning the demand and supply while some have been very good in the transporting part. The major challenges lie in all the three areas of Petroleum Supply Chain which are the supply of raw materials, manufacturing process and optimization of the product and the final distribution and supply.
All along the route of Petroleum Supply Chain major decisions have to be made. Consider a refinery which is planning to purchase crude. The delivery time has to be taken into account and also several factors might again change the decision and the crude might get traded before it can reach the refinery.
Canadian Petroleum Industry
Canada is one of the major world oil producers. Alberta is the Canadian Oil Patch. Petroleum industry has grown tremendously since the discovery of oil in Canada. Today the industry produces unrefined oil, natural gas and thousands of petroleum byproducts. It is one of the biggest employers in the country. The growth of the Canadian economy heavily relies on the oil industry. The various companies operating in the petroleum industry like the British Petroleum Oil company and many others pay millions of pounds in tax to the government each year. Alberta has been the biggest beneficiary of Canadian petroleum industry with millions getting direct jobs while even more benefit indirectly through subsidiary factories that have emerged. This has led to heavy migration into Alberta each year by job seekers. Those who are lucky to obtain jobs regularly send a share of their income to those left behind. This has to some extent ensured that the benefits of petroleum industry spread across the country. The companies working in the oil fields of Alberta make huge profits every year. A share of this is paid to the administration of Alberta and to the Canadian central government, earning them a lot of revenue. Infrastructural development has been witnessed in Alberta mainly due to the growing petroleum dealing companies. The governments of Canada have also been able to improve social amenities for the citizens from petroleum revenue. Oil production has had its own share of demerits. Pollution is one of the worst effects of oil production. Emissions emanating from burnt fossils are blamed as the biggest source of environmental pollution. Carbon dioxide produced by the petroleum products is also dangerous. With the world now struggling to counter the effects of pollution that have led to adverse climatic conditions, oil and oil products are on the receiving end. The other disadvantage of oil is that is a non renewable energy source. This means that the peoples’ hope of petroleum products ever getting cheaper is a pipe dream. As the world nears depletion of oil reserves, the products prices will keep rising each day. Petroleum industries have for instance in Canada eclipsed other industries completely leading to heavy migration from other towns to Alberta where more oil related opportunities are. This has led to heavy strain of resources in such centers. It has also led to rise in social problems like crime and joblessness.