Benefits of Oil Drilling
Oil drilling has to be done over oil deposits in order to recover the oil for use in various sectors. Provided the oil drilling is properly done, it can provide a number of advantages. Here are some of the benefits of oil drilling.
1. Creates employment opportunities
A key advantage of oil drilling is that it creates new employment opportunities, particularly in the area where it is being drilled. The local people can be able to get jobs at the drilling site and thus it helps to lessen the number of unemployed people in a particular region. Normally, the pay largely depends on skill requirements, but surveys show that experienced rig workers get more than $95,000 every year.
2. Boosts the economy
Oil is one of the most precious commodities in this modern world since most items like cars require it for proper function. As a result, if oil is drilled in a certain country, it is highly likely that their economy will be enhanced due to the high demand of oil. It also improves the local economy as well as the standards of living in the immediate community.
3. Provides energy security
Since the consumption of oil is increasing significantly every day, oil drilling provides essential energy security to the host country. This action helps to reduce the over dependency on foreign supplies and thus reduces the price of oil in the country. Other industries will also benefit from the reduced oil prices, leading to the production of high quality and cheap services and products.
4. Better infrastructure
Oil drilling leads to the creation of a more robust infrastructure for the process of refining and distribution. New technology will also be introduced to convert oil into other petroleum distillates. The transport sector benefits through the improvement of roads for proper oil transportation.
Nevertheless, oil drilling has several demerits as well. It causes harm to both land and ocean habitats, which leads to the death of many wild animals.