June 05, 2017

First Friday Q&A on Oil & Gas This Week – OGTW114

38 minutes

Welcome back to another episode! This week’s episode is our First Friday Q&A for March. You ask the questions and we answer them. Big thanks to everyone who wrote in. If you want to get a question answered for next month’s FFQA, click the link below. Enjoy!

Have a question? Click here to ask.

Show Notes & Links:

2017 on the road sponsors:

Totaland

The World’s Most Advanced Field Land Management System

The Landman’s Virtual Office

https://www.totaland.com

Lee Hecht Harrison

As global experts in talent management, LHH is currently helping 75% of the Fortune 500 Oil & Gas companies simplify the complexity of leadership and workforce transformation.

http://www.lhh.com

API-YP Events

Questions:

I am currently doing a Masters degree in Oil and Gas Enterprise Management in the University of Aberdeen, Scotland. My focal project is to look into the Decommissioning business and the current models that exist to for the industry and governments to get what they need. I believe there is a gap (as you’ve pointed out in your shows) in the exploitation of big data analytics particularly when it comes to decommissioning. My question is, how and where do you see the concept of big data analytics playing an major role in engineering decommissioning activities before a project is just about to start?

Today I read the article “Here’s how US carbon pollution stacks up with the rest of the world” by John W. Schoen on the CNBC website. Of course there’s much to do about whether or not President Trump stays committed to the Paris accord. I dug a bit further to actually look at the data quoted from the World Bank web page. What was interesting to me was the omission of historical trends in comparing China and the U.S.

The article reviews the CO2 emissions of major economies around the globe and points out that China is the largest contributor of CO2 followed by the U.S. On a per capita basis, the author states that the U.S. is the leading emitter in the world (and the chart directly beneath that comment shows that Saudi Arabia is the worst).

But we all know that CO2 emissions is not static. It is constantly changing. The World Bank’s website shows the yearly data going back to 1960. As you chart China’s per capita emissions from that time, it has steadily been climbing and during the last decade the chart shows a profound upward surge. On the other hand, the U.S. has actually been declining in per capita CO2 emissions fairly steadily since around 1973. In part I believe, as you have pointed out many times on your show, the efficiencies and newer technologies have been a major contributor to this decline. It’s unfortunate Mr. Schoen omits this rather important data.

Jake, I have been working for a big oil company for 11 years and I want to start my own business. I know that I have a marketable service, I have the industry knowledge and connections and know exactly the problem that I would solve (thanks Mark). My question to you is, how do you best go about working at your “day” job while at the same time launching a startup? And tips for advice that you could give would be much appreciated. And LOVE the show guys!

Hey guys great show. What are your thoughts on supply chain in oil and gas. Do you think things will be changing because of new technologies and people, or do you think we will continue to run supply chain the way we always have?

What do you both think about the changing word of sales in oil and gas?

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By Mark LaCour & Paige Wilson

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