Heinz P. Bloch has been a contributor for Pumps & Systems magazine over the years. Check out his author bio for his past works. He answered some questions for the State of the Industry as it relates to oil and gas.
P&S: What are some of the biggest ways COVID-19 has affected the oil and gas industry?
Bloch: Virtually all projects on hold. Job losses of roughly (estimated) 8 percent in downstream areas, but higher (perhaps 30%) in upstream/exploration.
P&S: What will we see less of going forward because of coronavirus?
Bloch: Conferences, gatherings, travel are not likely to return to pre-pandemic levels.
P&S: What will we see more of going forward?
Bloch: Renewable energy endeavors will be taken more seriously. Science and scientists will gain a bit more respect.
P&S: How could a Biden presidency affect the oil & gas industry?
Bloch: A rational and well thought-out move towards a bit more entrepreneurial thinking. Measured (albeit small) steps towards more renewable energy. Many jobs lost in traditional oil and gas endeavors will be redirected to renewable energy and retraining of the willing and motivated will accelerate.