Eco-Friendly Tech Not Vital for Students But Critical for Oil Sector Future
The adoption of more environmentally friendly technology won’t attract more students into the oil and gas industry, but companies in the sector need to implement equipment of this kind in order to secure their future, FluidOil Limited CEO Charles Parker said.
“It’s one way of increasing the longevity of the market. There is such a focus at the moment on climate change that if the oil and gas industry was to do nothing about their emissions right now, nothing about their efficiencies, they are going to have a shorter life,” Parker told Rigzone.
“If they can give more bang for buck, produce more energy for the emissions then their life is going to be longer. Let’s say if they do nothing there’s going to be an increased need to go to renewables quicker,” he added.
The Paris Agreement, reached by world leaders at COP21 in December 2015, aims to limit global warming to ‘well below 2 degrees Celsius’ by phasing out inefficient and emission-heavy fuel sources. Due to its relatively clean nature, gas has been touted as a fuel that can help the eventual transition to renewable energy.
On Tuesday, Reuters reported that U.S. President Donald Trump signed an executive order to undo a spate of climate change regulations that his administration says is holding back oil drillers, in a move that environmental groups have pledged to take to court.
FluidOil is an oil services technology company, which has developed an environmentally friendly solution to problems associated with heavy oil production.
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