Archive
The Current State of Oil Prices
Oil is in the news, and everyone is talking about the impact of lower oil prices on our economy in the USA as well as around the world. Within the past year, oil prices have been as high as $100 per barrel, but are now fluctuating to about $45 per barrel. That’s a significant drop in price, so it’s important to consider why that reduction has occurred and also learn where oil prices are going.
Lean Manufacturing Processes in the Oil and Gas Industry: What You Need to Know
Lean Manufacturing
Production systems develop items that the population demands with speed and accuracy. However, the way items are formed and placed in front of consumers is an involved function that has not always been efficient or pleased customers to the greatest extent possible. Lean manufacturing was developed when time and materials were not being used to their highest potential.
The basic concept of lean manufacturing has to do with how an entity can cut out unnecessary steps or hindrances to achieve the best selection for all customers. The oil and gas industry has begun to adopt lean principles in order to effectively compete using an increasingly called-for material with a changing market cost.
News: Oil in California
When people think of California, many think of the famous Hollywood sign and others think of the rolling vineyards. It would be surprising to know, that California ranks third to only Texas and Alaska in the production of oil in the United States. Oil production in California started in 1865 and has only continued to grow.