The evolution of the oil and gas technology policy Research Paper

The evolution of the oil and gas technology policy - Research Paper Example Canada is one such country, which has an immense endowment of oil as well as natural gas resources, and by extracting, refining and also transporting these resources, it is not only providing high number jobs to its citizens but also strongly contributing to its economy as well as trade balance. Although, these oil and gas deposits have naturally developed more than a billion years ago, it is due to the expertise as well as technology adoption of the Canadians, they are able to effectively extract it, process it, transport it and achieve success. From finding the first deposits in 1850s to the current optimum expansion throughout Canada, oil and gas companies with the support of the government are carrying out extensive operations, both onshore as well as offshore. The support of the government is critical because with all the oil and gas resources belonging to the Federal government, their laws and policies plays a key role in the tapping of these oil and gas resources, particularly in the usage of technology. With government policies and use of technology being interrelated, the focus will be on how the evolution of the Canadian oil and gas sector and the resultant formulation of policies have impacted and still impacting the evolution of the oil and gas technology polici es as well. The Canadian crude oil and gas industry had its origins in 1850, when James Miller Williams, a carriage maker from Hamilton, Ontario, â€Å"dug and drilled the first commercial oil wells in southwestern Ontario and established North America’s first integrated oil company.† (Bott & Carson, 2012).The other key fuel of the petroleum era, natural gas, was first discovered in New Brunswick in 1859, with Eugene Coste, an entrepreneur, being the first Canadian to find and develop natural gas resources on a large scale, first in Ontario and later in Alberta. (Bott & Carson, 2012). From those humble beginnings, Canada has