Answer: Technology is constantly evolving and continues to change and impact various industries. The oil industry is no exception, and new technology is being developed to extract oil more efficiently and sustainably. In addition, the use of oil is also shifting towards new applications and industries, such as renewable energy and transportation.
With the growing demand for energy, the oil industry is continually looking for ways to extract and produce oil more efficiently and sustainably. Technology is playing a critical role in this process. For example, new drilling techniques such as hydraulic fracturing (or "fracking") and horizontal drilling have made it possible to extract oil and gas from previously inaccessible sources, such as shale rock formations. These techniques have revolutionized the industry and have led to a surge in oil and gas production in recent years.