This article outlines the economic and environmental impacts of offshore drilling. Economically, offshore drilling increases the overall supply of oil that hits the general market. Offshore drilling also provides nations with some energy self-reliance. Offshore drilling rigs vary in the specific type and layout. They can be shallow-water drilling and deep-water drilling. They operate all day without stopping. This means the hours are long and the conditions are sometimes hazardous for the people who work on the rigs. This is just one of the many challenges in offshore drilling. The demand for workers in the oil field is high due to the constant need for more fuel.
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REASONS FOR CONTROVERSY IN OFFSHORE DRILLING
The challenges in offshore drilling result in many controversies. Whenever there is oil recovery from the ocean floor, other toxic substances such as mercury and lead come up. The infrastructure required to drill wells, such as offshore drilling rigs and transport offshore oil is equally devastating. However, improvements in technology and better government oversight make drilling safer. Despite the advances, the effects of offshore drilling continue to affect the environment negatively. Marine transportation of the oil recovered accounts for one-third of oil spills worldwide. The oil sits on top of the water, and it suffocates the sea life that it encounters.
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ECONOMIC AND ENVIRONMENTAL IMPACTS AND OFFSHORE DRILLING’S LATEST TECHNOLOGICAL ADVANCEMENTS
Technological advancement aims at reducing the adverse effects of offshore drilling. This allows companies to enhance safety, boost production, and operating profits. Producers are taking advantage of advanced technology to gain access to deep oil reserves found in low-permeability geological formations. Offshore drilling rigs are now more sophisticated. Some are basically floating cities, employing and housing hundreds of people. Technologies like advanced polymers, reservoir robots, and electromagnetic heating technology reduce the challenges in offshore drilling. Lastly, with advancement, comes significant investment savings, improved protection, and safety standards for drilling equipment.
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