If you picked up a newspaper last year, it's likely you saw at least one story about the rise in gas prices. The petroleum industry, not known for getting too much attention in the past, has suddenly had their industry practices questioned as pressure rises to create alternative fuels. And the focus on the industry won't go away anytime soon. The rise in oil prices may have frustrated consumers, but the demand for the limited supply of oil proved profitable for companies. Although profits and demand are up, the industry does face some challenges due to increases in federal and state regulations regarding emissions and fuel quality standards.
Sulfur affects the ability of catalytic converters to reduce emissions.
Regulatory standards present only one challenge to industry professionals. Those working in other aspects of the industry, such as prospecting, are constantly trying to improve the accuracy of finding oil fields. The process involves a combination of structural geology, geophysics and seismology in addition to straightforward old-fashioned drilling. The technologies used in each aspect of prospecting range from satellite and radar information, used to examine the surface of a potential field, to explosive devices designed to vibrate the underlying rock and provide data in the form of reflected waves that show the density of the subsurface area. Increasing the accuracy of prospecting is an ongoing pursuit at oil companies and not simply because such improvements will save time and money.