There is always a large divide when it comes to the idea of offshore drilling. Some feel that there are too many risks with this type of drilling, and they have concerns about the environment. While those concerns are legitimate, it is important to realize that there are certainly quite a few benefits when it comes to offshore drilling. With the right precautions in place, it is safe. Over the past couple of years, we’ve seen some of these benefits.
Reduce the Need for Foreign Oil
One of the biggest benefits is that when the country puts efforts into drilling offshore, they are adding to the surplus oil. Having a surplus means that we can cut down on the need for foreign oil, and that’s just what’s been happening over the last year or so. In addition, there is also the potential to have a surplus of oil for those times when the substance seems scarce.
This can reduce the chance of having the country face another gas crisis, as we did in the 1970s when OPEC showed their muscle and placed an oil embargo on the United States for the support of Israel at the time of the Yom Kippur War in ’73. Since many countries, as well as OPEC, continue to make oil a tool for bargaining and getting their own way, this can eliminate that possibility.
Offshore Drilling Provides Job Development
Another great reason to continue offshore drilling is the fact that it provides much needed jobs. It is important to remember that there are sometimes slowdowns in production, which means that the number of jobs available can increase or decrease. In general, though, the oil industry can provide tens of thousands of jobs across the country. Stopping drilling entirely would cause these jobs to dry up. Keep in mind that it’s more than just the oil companies and drilling platforms that are creating jobs. All of the companies that support the oil industry in some manner or another are providing jobs as well.
Revenue for the State and Federal Governments
The oil companies certainly aren’t the only ones who are making money from oil. The state and federal governments are also able to make money through tax revenue, as well as royalty fees. This can provide the government with money that they certainly need, and it could help to keep them from raising taxes in other areas.
About Oil Works Inc.
Oil Works, Inc. is a complete drilling rig equipment manufacturer and service provider based in the Permian Basin for over 20 years. OWI’s product and service offerings include Derricks, Substructures, Drawworks, Mud Systems, Rig Walking Systems, GENSETS, Control Systems, Iron Roughneck Service and complete Drilling Rig Solutions built to API and ISO standards. OWI is also proud to offer 24/7 Service and Support.