This website uses cookies to ensure you have the best experience. Learn more

The Impact Of The Oil And Natural Gas Industry In Oklahoma

1258 words - 5 pages

From moo-town to boomtown, the discovery of oil in Oklahoma has largely benefitted the state’s industry. It all started in small town Bartlesville, when oil popped out, spouting from a tower. From there, new oil companies from all over selected Oklahoma as the base for their industry. By the 1920’s, Oklahoma had already received its title as the “Oil Capitol of the World”. In this “Golden Age”, Oklahoma had already become home to thousands of jobs and companies. In the 1950s, oil production slowed down, but picked right back up again in about 1979, when the demand for oil greatly increased. This time around, there was contemporary and more advanced technology for their time, which lowered us down below the earth, thirty thousand feet. Petroleum related occupations became just as prominent as the oil itself. As for natural gas, the very first commercial use launched at a brick plant in Tulsa. The oil and natural gas industry holds a very vital position in Oklahoma’s history.
Still today, this industry contributes to not just American petroleum production, but also provides millions of dollars to Oklahoma’s economy. By 2007, total amounts yielded reached around $40 billion. More than two billion of this profit went towards the state. Annual production from Oklahoma’s natural gas and oil industry generates $51.7 billion in services and goods. That is approximately one-third of Oklahoma’s gross state product. Oil and natural gas corporations account for 25% of Oklahoma’s tax dollars. Schools, roads, teacher retirement, state colleges, bridges, public parks, wildlife preservation, and the occupations of Oklahoma residents would not be possible without the outbreak of oil. Most employments in Oklahoma are related to the oil and natural gas industry in some way. Statistics state that one out of every seven jobs in Oklahoma is indirectly or directly supported by the industry of oil and natural gas. The total estimation from these jobs is around 300,000 workers. This corporation is indubitably going to be a monumental component in our future.
Oklahoma’s future in oil and natural gas related fields lies in the education of the youth of today. Oklahoma’s oil and natural gas industries have already donated $1.6 million in OERB Petroleum Scholarships. This will highly support hundreds of Oklahoma college students on the road to their major in petroleum-related fields. Because of this industry, we are revitalizing our homeland. Approximately 60 million dollars has already gone into restoring more than 10 thousand abandoned well sites in the state wide area. This has a very positive impact and is making a difference in the landscape of Oklahoma, and even in the economy. The industry not only revitalizes our homeland, but as the need for this industry grows, so does the need for education about the oil and natural gas industry to our adolescents. As I mentioned earlier, Petroleum Scholarships are in high action, but it all...

Find Another Essay On The Impact of the Oil and Natural Gas Industry in Oklahoma

Mexico And Venez Trade In The Natural Gas Industry

1112 words - 4 pages Country Assignment Mexico Overview of Current Economic, Political & Social Conditions With a population in excess of 100 million, Mexico is the 11th largest country in the world by population, and is rich in natural resources such as petroleum, metals and natural gas. Mexico's efforts to develop and modernize its economy, the 13th largest in the world in 2000, has been hindered by the nation's rugged terrain, limited farmland, rapidly

Regulating Oil and Gas Industry in Colorado

2355 words - 9 pages federal action that is being called for in North Dakota to ensure the safety and economic welfare of the citizens is the very thing needed in Weld County as the oil and gas industry is beginning to boom. Harms’ concern about the fast and furious rate at which the oil and gas industry has taken off in North Dakota needs to be a concern at a federal level for Colorado as well, as the industry is taking off at a fast pace in Weld and Larimer counties in

The U.S Oil and Gas Refining and Marketing Industry

1815 words - 7 pages The U.S Oil & Gas Refining & Marketing Industry According to the GAO report, the U.S. petroleum refining industry experienced a period of high product prices and industry profits from the early 2000s through to 2007. ( United States Government Accountability Office , 2014). Since the recession of 2007 to 2009,the industry has been in transition ( United States Government Accountability Office , 2014). The three major changes that have recently

The Impact of The Oil Industry on the World

2461 words - 10 pages /3rd of humanity’s primary energy supply. It’s over half if you include natural gas” (Carlyle). In fact oil and gas accounts for about 100% of transportation in the world, while transportation is responsible for 1/6th of the worlds GDP. As you can tell the Oil Industry is extremely well equipped and extremely influential to the world. The world’s oil & gas transportation system of pipelines and shipping routes is a massive indestructible spider web

Oil and Gas Industry: Suppliers Selection

1702 words - 7 pages order to select the right supplier. 1.1 Background of the Study Nowadays, oil and gas industry plays a major role to driving the business in both local and global level. It provides energy and essential chemical for industry, homes and transport which is increasingly consumed by user every day. There are around fifty oil and gas companies located in Thailand and ten out of fifty are ABC Company’s customer. The ABC Company is one of the leading

Pros and Cons of Natural Gas Drilling in the Drillers Are Coming by Mark Fischetti

844 words - 4 pages In his article The Drillers Are Coming Mark Fischetti examines the pros and cons of the natural gas drilling procedure known as hydraulic fracturing or fracking. He also discusses the Marcellus formation, a shale deposit that stretches from New York to Tennessee (Fischetti, 2010). According to the article, the Marcellus formation could potentially provide the United States with enough natural gas for the next 40 years if consumption rates

The Future of Liquefied Natural Gas

861 words - 4 pages the energy industry and the global economy. In the creation of LNG, many technological advances to the conversion process from gas to liquid have been essential to its increasing popularity in natural gas exchanging nations. The primary idea behind the creation of LNG is condensing natural gas after it has been removed from a deep subsurface reservoir. This condensing process requires an LNG plant. While there is not a standard for the components

The Politics of Natural Gas Production

1387 words - 6 pages contaminated, due to fracking. The “unknown” chemical cocktail used in fracking is injected approximately 8,000 feet into the ground (Rao 6). Therein lies the problem - the public does not know what exactly is being injected into the ground or what is coming back out, because the natural gas industry is not required to disclose the dangerous chemicals it uses, and the Environmental Protection Agency (EPA) does not regulate the injection of fracking

Water management in unconventional oil and gas development – The issues and their optimization

789 words - 4 pages Introduction The U.S. natural gas industry, and by extension the industry globally has borne witness to tremendous change over the past decade. During this period, U.S. natural gas production levels have risen from a twenty year low of 18 Tcf (510 Bcm ) in 2005, to an all-time high of 24 Tcf (680 Bcm) in 2012 . At the same time, natural gas prices have fallen to levels not seen since the period immediately following the U.S. gas market

The Impact of Ethical Decisions on the Discovery of Knowledge in the Natural Science and Art

1261 words - 5 pages “Science cannot stop while ethics catches up… and nobody should expect scientists to do all the thinking for the country” Elvin Charles Stakman ( The quote illustrates how science and ethics are interconnected but ethics is hindering what science can achieve. The knowledge issue I will be addressing is what impact do ethical decisions have on limiting the discovery of knowledge in the natural sciences and arts? One day in

Summary of the Simmons and Company Oil and Gas Macro Outlook

877 words - 4 pages , but is expected to do so throughout 2000, accounting for some of the estimated 2.2% non-OPEC production increase in 2001 (time-to-first-oil is seen as further decreasing). International rig count is also expected to return to 700+ actively drilling. All in all, Simmons is in line with most other analysts, revising their 2000 and 2001 estimates upwards after the Feb 23 GCC and Thursday's ministers' meetings. Gas According to Simmons, the

Similar Essays

The Impact Of Oil And Natural Gas On The State Of Oklahoma

1627 words - 7 pages I have been employed in the oil and natural gas industry for the past 106 years, and they have been the best years of my life. Oklahoma has been facilitated in various ways because of the positive effect on the state. There are also many negative impacts on our environment that have occurred from the oil and natural gas fields. Oklahoma is known for its impressive oil industries. Without oil and natural gas, Oklahoma would be a completely

The Oil Industry In Oklahoma Essay

1142 words - 5 pages difference in the landscape of Oklahoma, and even in the economy. The industry not only revitalizes our homeland, but as the need for this industry grows, so does the need for education about the oil and natural gas industry to our adolescents. As I mentioned earlier, Petroleum Scholarships are in high action, but it all begins in elementary school. It is imperative that the youth of our state understand and appreciate the impact of Oklahoma’s oil and

The Oil And Gas Industry Essay

677 words - 3 pages main reason the oil and natural gas industry is volatile. As of today, the country members of OPEC are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela (OPEC). According to this information, OPEC controls eight out of the ten top oil and natural gas reserves in the entire world. The two countries within the the top ten countries that do not answer to OPEC are Russia and The

Th Oil And Natural Gas Industry's Effect On Oklahoma

1034 words - 4 pages The Oil and Natural Gas Industry’s Effect on Oklahoma Oklahoma's oil and natural gas industry is giving us unstoppable progress for energy solutions, but the other parts of the nation are still searching for theirs. While providing jobs for the thousands of people who live in Oklahoma, the oil and natural gas industry not only donates to America's petroleum production, but it also produces millions of dollars for our state’s economy, schools