The United States doesn’t just need oil – it needs more oil. The trend has always been that there is more need for oil than the country can produce, so it relies in exporting oil from countries like Russia, Saudi Arabia and Venezuela to satisfy its high demand. Since the States has to source oil from outside its borders, foreign relations with its oil suppliers begin to become very essential.
Furthermore, the US oil industry is also affected by the movements within OPEC or Organization of Petroleum Exporting Countries. Led by Saudi Arabia, OPEC owns around 81% of the global oil supply, making most of the imported oil-dependent countries like the US to rely on the price of oil per barrel offered by the organization. However, political disturbances and agreements within and outside OPEC also contribute to the constantly fluctuating oil prices.
To make the US become less vulnerable to OPEC-induced oil movements, the country must find a way to make domestic oil become more accessible. Over the years, the United States has found fitting oil exploration and drilling technologies that encouraged the increase in daily oil production and increase the overall oil supply of the country, such as the wells & drilling operations in the Lafayette area. Major oil companies in the United States are also constantly in the lookout for new and proven oil reserves which can potentially replace the depleted ones.
Oil in Lafayette, LA
With the US setting sights on being independent of foreign oil by 2030, Lafayette oil & gas investing firms are are seeing a boom of interest and drilling in the Northern Louisiana Shale deposit leading to a large number of oil investment opportunities for potential investors. This enormous oil and natural gas deposit is touched by three states and will go a long way in seeing America no longer being reliant upon foreign countries for our oil needs.
Seeing the oil industry in a larger picture, it is easy to see that it has become very diverse. Oil companies, whether big or small, provide significant contribution to the growth of domestic oil supply of the country.
Oil & Gas Investing
When it comes to investing directly in oil and gas, you need to have personal and economic timing on your side. This type of investment requires you to submit higher amount of money than you would find in other investment opportunities. While you may get at least 5-folds out of your initial investment once you enjoy your returns, the stakes are high. Dry holes could leave you with nothing.
The best time to invest directly in oil and gas is when you feel that you are at the peak of your personal readiness. This risk of an investment should not be taken lightly. You need to know the ins and outs of the industry and understand what will happen to your money if you strike a dry hole or a gushing oil well.
Take a look at your financial standing and see if you can afford to part with thousands of dollars right now. Ideally, the rest of your bills should have been handled and that you have ample savings to back you up.
Aside from your mental and emotional readiness, you also need to consider the oil and gas climate in the Lafayette region and the nation as a whole. With the ongoing shale boom and introduction of advanced drilling technologies, investing in oil and gas today could be a great move for you. The best time to make direct investments in oil and gas vary from one person to the next. If the oil climate is good; you have the guidance of industry experts and you have the money, knowledge and expectations in check, then you should be ready to make an investment.
Lafayette oil & gas investing opportunities are only going to improve with America’s renewed focus on local oil drilling, production, and refining. If you’re looking to take advantage of this trend, our oil and gas experts have pooled their knowledge into a FREE Insider’s Guide and Legit Meter to give you key insights into recognizing a sound investment opportunity, telltale signs to look out for when vetting a broker, and a wealth of resources to to educate you on the oil & gas industry.