Humans are going to need Oil no matter what happens. Many environmentalists want to ban drilling, stop building pipelines, close refineries and petrochemical plants.Much renewable energy needs lubricants, paints and chemicals. Crude has many other applications beyond combustion. Electrification is not the end of Oil. The necessity of can drop in the future but people have to find a way to extract oil sustainably and affordably.
Oil companies have earned a bad reputation by taking their historical pool for granted. From poorly maintained wells to unnecessary flaring and climate change denial, the industry has achieved a great deal of distrust with the public. This tide is turning.Every major oil company CEO acknowledges the need to mitigate climate change. Most companies have plans to transition out of the traditional oil and gas business. There are also countless small and big steps the industry can take to clean up its practices.
The and gas industry spends about $4.5 billion a year in North America on fluids called surfactants, which are detergents that make the oil bead up inside the fractured rock and flow to the surface. Traditional surfactants are refined from crude Oil, but Locus provides biodegradable surfactants made through fermentation.
Jonathan Rogers, Chief Executive of Locus said that these products are green, which they are, is not the most important part, The biggest environmental impact we can have is to reduce the number of fracks a company does. The Texas Railroad Commission found Locus products are so beneficial it grants operators who use them a 50% severance tax reduction for 10 years. He also said that the product comes out of the fermenter with a consistency like a maple syrup.