CleanTechnica•about 2 months ago
The Oil Industry Is Facing A Problem
- •Oil production from horizontal wells is experiencing rapid declines, necessitating continuous and increased drilling efforts to maintain current output levels.
- •This trend suggests rising operational costs and diminishing returns for conventional oil extraction, potentially impacting global energy supply stability and pricing.
- •The increasing difficulty in sustaining traditional oil production strengthens the economic and strategic case for accelerating investment in and adoption of alternative, non-oil energy sources for power generation and large industrial loads.
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