Gas is the New Oil: What Does It Mean for Young Professionals?

Abstract

Forum - What will a shift from oil to gas mean for young professionals? Forty-two SPE young professional and student members, in various geographical regions and technical disciplines, were surveyed by TWA on the effect of the increasing importance of gas production on young professionals’ careers. In addition, several industry leaders were consulted to gain perspective into the nature of today’s oil and gas business. Natural gas is one of the cleanest and safest natural energy resources. It is a combustible mixture of hydrocarbon gases, primarily methane, and can include ethane, propane, butane, and pentane. It was discovered thousands of years ago in the Middle East, where ignited (probably by lightning) gas seeps were found, and provided fuel for the eternal flames of the fire-worshipping ancient Persians. Around 1000 BC, one of the gas seeps in ancient Greece was selected as the site for a temple that housed a priestess known as the Oracle of Delphi. It was not until 1821 that the first well specifically intended to obtain natural gas was dug near New York by William Hart, a few years ahead of the dawn of the oil industry. Gas transportation remained a major issue for a long time. After World War II, pipeline infrastructure boomed and new uses for natural gas were discovered. Competition characterizes the natural gas industry today. Increased efficiency and technological improvements have resulted in natural gas being obtained more efficiently, cheaply, and easily than before. However, the search for more natural gas to meet a growing demand requires new techniques and knowledge to obtain it from hard-to-reach places.