Strategy for Oil Producers in 2015

The oil producing industry is a complex juggernaut to juggle, especially as green energies and technologies entities continue to develop and pick up steam, pun intended. According to several business strategy publications, the supply of petroleum in 2014 was twice as much as consumption, causing oil companies to adjust on the fly to lessening market demands. Besides the normal barriers that have existed for years, such as oligarchic control over the industry, poor public perception due to environmental considerations, and other market-fixing mechanisms that have cornered the consumer into purchasing high-priced gasoline, the oil-producing marketplace now faces unprecedented strategic concerns which may cause a shift in focus.

So, instead of sitting back and fixing gallon rates, "big oil" must now implement actual business strategy if it wants to continue amassing the egregious profits it has sustained for decades. The question remains, though, which strategies should be considered? How about, for starters, improving operational efficiency, which does not necessarily mean reducing costs and expenditures. Instead, companies like Schlumberger should focus on creating innovative ways to utilize their resources to ensure a long-term presence in the industry.