What Happens to Big Oil When the World Shifts to Green Energy?

Green EnergyEverything is about economics. The move to green energy may reduce the impact of fossil fuels, and support the cause for improving the environment. But with tax breaks, plus the decreasing costs and rising demand for sustainable energy, people are willing to ease out of relying on fossil fuels because it’s just financially sound in the long run.

So it’s possibly only a matter of time when the world begins using green energy. What will happen to big oil companies, and the towering fuel storage tanks that dot across the country?

A New Purpose for Tanks with Modification

Industries can use aboveground storage tanks (or ASTs) to hold other substances if the shift toward energy should happen. These made-to-last tanks don’t have to languish or corrode to nothing. Tank builders can modify ASTs so the structures can safely and adequately store fertilizers, vegetable oil, animal fat, and other forms of liquid.

Engineers build aboveground storage tanks to prevailing standards, and each one covers certain aspects of building, maintaining, and inspecting tanks. The API 650 for ASTs standard, for example, focuses on design, materials, and construction while the API 653 covers repair, alteration, and construction.

Green is the New Black

Modifying ASTs as a way to shift from fossil fuels to green energy is still in the distant future. Chaos may ensue if the shift were sudden. For now, big oil companies are slowly making investments in renewable sources in recognition of the growing consumer demand.

Shell now has a business unit focusing on new energies and has a stake in a solar company. Total acquired a solar power company five years ago. The efforts are, in part, fueled by a United Nations climate change agreement, and possibly shifting consumer demand the world.

The world realizes that relying on petroleum products can’t go on endlessly. Fortunately, the oil industry is taking steps toward renewable sources. And with storage tank standards enabling ASTs to store other substances, the world may survive without oil in the future.