| Oil and Gas companies profits are being kept | | | | industry rebuilds to more-rigorous specifications after |
| components of their business which reflect their core | | | | last season's hurricane damage. Higher recovery rates |
| business competencies in-house. However, with the | | | | by increase of reservoir management (integrated |
| release of the Exxon Mobile Profit, being the highest of | | | | information from multiple systems)The real-time data |
| any public trading company ever, is said to be over | | | | provided by the PI System helps the companies affect |
| $40 Billion dollars! | | | | operational efficiency by:Enabling proactive |
| Looks as if the American Consumers took it in the chin | | | | maintenance through condition-based monitoring |
| again! | | | | Personnel work efficiency through management of |
| Oil & gas can be a very profitable investment. | | | | data by exception (focus on analysis instead of the |
| The companies typically pay a 12 to 16 percent royalty | | | | ring the data) Provides data necessary for safety |
| on oil and gas they extract from federally owned | | | | monitoring, as well as regulatory reporting With the PI |
| waters. Thus making royalty payments the second | | | | System, customers can consolidate all operational data |
| largest source of government revenue next to taxes, | | | | from remote locations and provide this data to |
| bringing in approximately $9 billion in annual revenues | | | | everyone in a business unit (and higher), this can set |
| which historically provided needed funding to the Land | | | | the stage for base lining and ranking performance |
| and Water Conservation Fund, the Historic | | | | based on common measurement data. Production |
| Preservation Trust Fund, the oil-producing states and | | | | from these leases is just now coming on line. |
| the general treasury. These businesses deal with a | | | | Companies must gain access to existing reserves and |
| massive amount of data. Of this massive amount of | | | | find new ways to increase production levels so as to |
| data the oil and gas industry profits make up a large | | | | give the consumers a much needed break from these |
| portion. Oil and gas companies profits may sometimes | | | | record high fuel prices. With the oil and gas industry |
| have very long compute cycles that may last for | | | | profits breaking records every year why can't they |
| weeks. As prices slid more than $2 a barrel Thursday | | | | learn to do with less as does the American |
| amid economic worries this did not hamper the oil and | | | | consumers? |
| gas companies profits. This was quite evident at the | | | | Congress should act immediately to end giveaways to |
| fuel pumps! | | | | the oil and gas industry even if it means dipping into the |
| Production is growing even more expensive, as the | | | | oil and gas industry profits. |