“Climate change is no longer some far-off problem. It is happening here; it is happening now.” – Barack Obama
The world is currently dealing with many devastating issues, and climate is one of them, if not the most deadly among them. The major reason behind this is global warming, driven by human-induced emissions of greenhouse gases. We as humans have been exploiting nature for ages by extracting its resources without thinking of replenishing it one way or the other. Fossil fuel is one of them. With the rising need for industrialization, power, and automobiles, the use of fossil fuel is expected to continue for another century. This is where industries have to come forward to mitigate the effects that greenhouse gases have on global warming.
Petroteq Energy, Inc. is one such oil company that has revolutionized oil extraction. The combined effect of their innovative technology helps Petroteq extract close to 175 KG/MW or 300 KG/BBL of energy. The company has adopted an economically viable approach to stay carbon negative by extracting oil from sand. The process is not only environmentally friendly, but it also has a positive impact on nature. As oil is extracted from sand, it remediates the soil, making the planet greener.
This modern technology has served as a gold standard for the oil and gas industry that is not only eco-friendly but also a feasible option compared to other sources of energy. If we look at the environment-friendly alternatives of fossil fuel, solar energy and biofuel rank top in the list. Although these forms of energy may not have emissions contributing to global warming directly, they negatively impact the environment indirectly. For instance, production, transportation, installation, maintenance, and disposal of photovoltaic systems generate carbon emissions during the first years of their usage. In the case of biofuel, biowaste is generated in the form of crude glycerol, which is hazardous to the environment if not recycled.
According to research, alternative sources of energy or renewable resources are consumed by only 15% of the world. The rest of the 85% consumption of fuel is entirely based on natural resources that generate emissions. This is because environment-friendly alternatives are either too expensive compared to fossil fuels or not easily available in some places. This is where Petroteq has stepped in to create a balance between affordability and accessibility with the help of modern technology. Petroteq is decarbonizing oil and gas production by stopping and ultimately reversing the carbon emissions associated with oil and gas production. While scientists worldwide are still studying to find a valuable alternative to fossil fuel that will be easily accessible and affordable, this initiative is a big step to save the planet.
To take this one-of-a-kind technology further to help humankind preserve the planet, Petroteq will help its oil and gas industry peers adopt the same technology in the coming years.