Technology has influenced the growth and development of the oil and gas industry in many ways. Some manufacturing is done domestically and also internationally. In some cases, companies lowered their production costs.
The capabilities, cost, risk, and legality of new technologies must be determined before are moved into commerce. Argonne's Environmental Science Division conducts independent feasibility studies of the technical, regulatory, economic, and risk aspects of promising oil field technologies to foster technology evaluation and implementation. Some technology that Argonne's Environmental Science has incorporated are synthetic based drilling fluids that offer both good drilling performance and low environmental impacts, the use of underground salt caverns for disposing of oil field waste below water supplies, and downhole oil and water separators that produce cost savings through lower produced water management costs and a safer environment.
Many small producers exist in Europe, Canada, Russia, Asia, and Australia. The U.K. has the largest number of firms, which are concentrated in Scotland. The U.S. oil and gas equipment industry is very strong both domestically and internationally, particularly in areas involving advanced technology. The domestic industry is so competitive in the U.S. market that imports make up only a very small portion of the U.S. market. Perhaps, a very large portion of the oil and gas equipment manufactured in the U.S. is exported.
U.S. oil and gas equipment manufacturers are strong in every market around the world; however, they have extensive competition from manufacturers in Western Europe, Canada, Japan, Korea, Russia, China, Brazil, Argentina, and Australia. These producers tend to have favorable market shares in their regions. For example, European manufacturers have an advantage in the North Sea region, while the U.S. leads in the Western Hemisphere. The world market for upstream oil and gas equipment rises and falls with the price of oil. This happens as oil and gas companies increase and decrease their exploration and production activities. When the price of oil falls drastically the equipment market declines and the oil and gas equipment industry experiences bankruptcies and layoffs.
Technology manufacturing and companies costs play an important role in the energy industry. Technology helps in advancing drillings and many explorations in the oil and gas industry. The United States accounts for many of the production of gas and oil domestically and internationally.
http://www.evs.anl.gov/project/dsp_topicdetail.cfm?topicid=18
I think it is very interesting how you note that technological dominance in the energy industry varies from region to region. This leaves me wondering whether or not this trend could extend to the alternative energy market. Also it leaves me with the question of whether firms from other countries are trying to become more influential in the technology of oil and gas in the western hemisphere. As well as conversely whether companies from the United States are trying to become bigger players in regions outside the western hemisphere.
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