Tech has been described as the New oil, while Crude oil and its by-products are referred to as old oil, so what will old oil plus new oil be?
Why the Term “New Oil”?
In 1859 Connel Edwin Drake a retired railroad conductor , using a steam powered engine drilled a 69.5 feet well, which proved to be a discovery, the site of the well was near Titusvile Pennsylvania USA.
Although oil has been in use years before, but this discovery marked the beginning of the oil era, soon the frantic buying of lands and drilling of oil wells in the oil regions of USA began and quickly spread to other parts of the world.
In those years, some persons who where once poor suddenly became very wealthy ,Edwin Drake being an example, also the owner of Standard Oil company John D Rockefeller and sadly many persons also lost their fortunes.
The same is true of tech today, some software engineers and developers are beginning to amass wealth, while many are losing their jobs, Bill Gates the owner of Microsoft , rose through Tech as John D Rockefeller rose through oil to become a one time richest man in the world.
In the same way that Oil helped to enrich many while taking some out of business, Tech is doing exactly the same thing today, the good thing about the energy industry is that energy is needed to power all tech.
Although many frown at the fact that crude oil has contributed to pollution in the world today, nonetheless various technology and techniques are being design to make oil and gas production and usage more environmentally friendly.
Even though many clamour for the use of renewables, and more recently ground breaking technologies powered by solar are being developed, however the cost of using renewables may sometimes outweigh the benefits.
The Petroleum Engineer is one of the highest earner in world, in the same vein computer software engineers and IT experts are high earners also.
Oil, Will it Ever Run Out?
Many thought oil will soon run out! But contrary to numerous predictions made years back, new oil basins and field are being discovered, making it necessary for world oil reserve figure to be updated.
It does not really matter if oil is running out or not, the point is: men did not abandon the stone age simply because they ran out of stones, its just that they found something better.
The oil era which some claim is reaching its climax will not also end because men ran out of oil, on the contrary New oil and gas deposit are being discovered bringing to table the need to always update the worlds oil reserve data.
Refer to BP statistics or USATODAY to learn more about world’s oil and gas deposits
This may be the best time to be a Petroleum Engineer, since petroleum engineers are the most post paid engineers in the world, so it gets better if a petroleum engineer learns a programming language, takes courses on artificial intelligence, machine learning and data science , in a sense such an engineer is combining the old oil and the new oil.
Such combination will make the engineer to become a valid and valuable asset to the industry,especially in this era of Automation, AI and tech generally.
Now to answer the question, old oil plus new oil is equal to a high value blend, high quality oil that is attractive, qualitative and desirable. Such validity and usefulness will be seen in any Engineer who will make out time to learn software engineering or development.
As Engineers, technologist and technicians, to survive and maintain relevance in today’s world of big data, data science , AI, machine learning, robotics and many more, it is of utmost importance that an Engineer learns and follows the trend in other to maintain relevance, else one may be swept away, even as we see automation claiming numerous jobs today. This maybe a daunting challenge but achieving ones dream is still possible.