The excessive number of unsubstantiated lawsuits aimed at the oil and gas industry in the U.S. today having a negative impact, according to Elan Yogeswaren, lawsuit instances becoming more frivolous and unfounded by the day.
/EINPresswire.com/Sugar Land, TX — The number of lawsuits against the oil and gas industry is rising and according to geophysicist Elan Yogeswaren, lawsuits are becoming more frivolous and unfounded by the day. Even worse, this rise in litigation is having a negative impact on domestic oil and gas production in the United States.
With advances in geosciences and geoengineering, contends Elan Yogeswaren, lawsuit risk can be minimized, even when attempting to extract unconventional energy resources such as shale gas. Yogeswaren points out that shale gas alone accounts for 45 percent of the U.S. natural gas production. He notes that responsible, technologically advanced drilling for shale gas will successfully yield both energy and jobs.
“I think proactive use of technological advances in geosciences and geoengineering applied to unconventional resources such as shale gas assets can help minimize risks and avoid unnecessary lawsuits. This same principle applies to conventional resources such as deepwater oil and gas assets. Unnecessary lawsuits prevent the true facts from emerging and can put a damper on the domestic oil & gas industry at a time when we need to find more energy reserves in the U.S.,” noted Elan Yogeswaren, Owner of Terra Nova Sciences (http://elanyogeswaren.com/).
According to Elan Yogeswaren, lawsuits of any kind have the ability to cease the extraction of these natural resources, which slows production and supply. This can be the case whether the lawsuit is justified or not, as court orders may force companies to stop drilling or cap wells until the suit is settled.
“I don’t think the general public has an idea of how many lawsuits are out there, but if you Google “shale gas lawsuits” or “Deepwater Horizon lawsuits,” the scale of the problem can be seen. What people need to understand is that every time there is a groundless lawsuit, it stalls progress towards finding viable energy reserves right here in the U.S. I understand there are instances where lawsuits are valid and I don’t dispute those. What I dispute are the frivolous lawsuits that are aimed at doing nothing more than stalling progress or besmirching the reputation of companies and individuals in the oil and gas industry,” explained Yogeswaren.
About Elan Yogeswaren and Terra Nova Sciences: Elan Yogeswaren (http://elanyogeswaren.com/) is the founder of Terra Nova Sciences, LLC. Elan has over 30 years of experience in the fields of geosciences and geoengineering and has consulted and conducted research for more than 50 companies. He is a member of the Society of Exploration Geophysicists, the Society of Petrophysicists and Well Log Analysts, the Society of Petroleum Engineers, the American Association of Petroleum Geologists and a reviewer for articles submitted to these organizations. He continues to play a key role in transferring emerging technologies to entrepreneurial ventures. He received a PhD from the University of Illinois at Urbana-Champaign and Masters and Bachelors degrees from Cambridge University.
Media Contact:
Elan Yogeswaren
Owner
Terra Nova Sciences
P.O. Box 16806
Sugar Land, TX 77496-6806
(713) 795-4979
info@terranova-sciences.com
Press Release Courtesy of Online PR Media