Instead of living in fear of uncertainty in oil markets, we must think creatively and collaboratively to change the future of the industry.
I won’t be the first oil executive to tell you that we live in a time of great uncertainty. The most visible indicator of that uncertainty is today’s low oil price and the impact that is having on our industry: on investment, on jobs, on our employees, their families and communities.
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In the face of unprecedented global challenges, big companies need to adopt the mindset of startups — from collaboration to comprehensive problem solving.
As Thomas Edison said, “I find out what the world needs. Then I proceed to invent it.” Over 130 years after Edison established GE, invention with practical application remains at the core of everything we do.
Beyond headlines about oil prices, innovation is helping to bring about a more efficient oil and gas industry.
The oil and gas industry is experiencing a transformation, one that is broader and more long-term than what you read in the headlines about market swings. There’s a fundamental shift underway toward more innovative, efficient practices across the whole oil and gas value chain.