The global oil and gas industry is in need of a technology upgrade, according to a top US financial adviser.
Joe Stanislaw, founder of the JAStanislaw advisory group, praised engineers around the world for continuing to overcome environmental hurdles and technical challenges.
But he claims more innovation is needed if all the energy sectors were to thrive in the future.
Stanislaw, told the University of Oklahoma’s energy Symposium’s opening session: “The oil and gas industry is the leading technologist of the world.
“Technology is the answer – we just need to give it time.
“Technology is a driving force in every single sector of the energy industry.
“We’re only at 2.0 or 3.0 right now in terms of oil and gas. In terms of wind and solar we are at 1.0.
“It’s like Microsoft who’s at version 10 right now.
“That’s the driver. We’re suffering from our old age.
“We grew up with a mentality of scarcity. There’s not longer scarcity, there’s abundance but it’s hard to change that mindset.”