Ethics, Innovation and Technology - Essay Example

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Ethics, Innovation and Technology

This has led to banning of deep oil drilling and thus created a heated debate on whether to permit or ban deep oil exploration. Ethical issues have been raised on deep oil drilling. Deep Oil Drilling The constant and ever increasing need for fossil fuels (particularly gas and oil) has pushed exploration and drilling industry to drill in very (ultra) deep waters (more than 2,000 meters water depth) with the wells being drilled to depths more than 7,500 meters. These forms of wells are very costly to drill and complete with expenses up to approximately 100 million United States dollars. According to the Energy Information Administration, the world needs for energy are increasing at an estimated rate of 1.5 to 2.0 percent per year. The United States National Energy Council report predicts that, by the year 2030, the energy demand for gas and oil will increase by 50 to 60 percent. The current total estimated oil stands at 1,258 trillion barrels and with the present oil consumption at 86 million barrels of oil per day, the hydrocarbons in place are estimated to be there in the next 42 years (Kelessidis 2009, p220). Ethical Issues Surrounding Deep Oil Drilling Ethical concerns are usually raised after a tragic accident. This was certainly true in the case of the 2010 deepwater drilling spill in the Gulf and other countless oil spills documented throughout the universe in the last century. ...
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Ethics, Innovation and Technology Introduction Engineers play a significant role in the contemporary society. They have developed technology and knowledge that are beneficial to the humankind. Among the major technologies developed by the engineers is the deepwater oil drilling…
Author : baumbachwilfred

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