As I write this column, the word that keeps coming to the forefront of my mind is “uncertainty.” Uncertainty is on all of our minds when it comes to the COVID-19 virus, stock market, and the future of oil and natural gas prices.
It’s definitely certain that America needs America’s energy now, more than ever.
U.S. President Franklin Delano Roosevelt stated in 1933, during the Great Depression, “The only thing we have to fear is fear itself,” which is a very historical and memorable quote. He went on to say, however, “It is not a time to retreat, but to advance.”
Are you overwhelmed? Are you stressed, have fear? Are you uncertain about the future? You are not alone. In writing America Needs America’s Energy, the subtitle I inserted was Creating Together the People’s Energy Plan. Now, more than ever, we need each other to make it through these times of crisis.
This moment in history mirrors that of the 1990-1991 time frame. During that time, the oil and gas industry experienced consolidation, mergers, and acquisitions.
In 1991, I co-wrote a book entitled The Acquisition Process and Due Diligence: Minimize Risk, Maximize Return! Just years before, I had been in the oil and gas exploration side of the industry. I had to adapt from buying oil and gas leases in the exploration side to providing consulting services to companies throughout the United States, in regard to acquisitions and mergers. The reason I give that example is that I had to move forward from fear and reaction to being proactive. The challenge is to be able to look at things realistically. It is easy to get captured by the news of the day. It is important to gather facts and information that will provide a pathway to recovery, whether it is individually and/or as a corporation.
Decisiveness and discipline are essential to one’s success in this environment. It is certain that the oil and gas industry and energy sector will be vital to the economic revitalization of our country and for that matter, globally. It is certain that America needs America’s energy! Energy education is the centerpiece. As quoted in my book, “Future generations are depending on us to keep the American dream alive.”
America’s energy industry is very complex. We are all reliant on the energy industry. Whether it is transportation, power generation, national security, petroleum products, economic development, etc. For example, among the thousands of petroleum-based consumer products, listed on pages 167-169 of my book, there are several being used even during this health crisis, including aspirin, rubbing alcohol, antiseptics, and safety glasses.
Because of this crisis, we are all becoming more familiar with the virtual world. Over the last couple of years, speaking at conferences, one of my key subjects has been The Digital Transformation From the Whiteboard to the Boardroom. I highly recommend those that haven’t embraced digital transformation to definitely consider it.
Again, together we will make it through this time of crisis. We will be stronger in the process. America needs America’s energy!
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Oil and gas companies are regularly faced with many industry-specific issues to overcome. Such issues, including exploration and drilling, are often complex and intricate processes with many unique challenges to overcome. Data analytics can play a massive part in streamlining some of the most fundamental operations that are involved in the oil and gas industry.