Impacts of Obsidian Energy Company to The Economy

Introduction

Obsidian Energy, formerly Penn West Petroleum Ltd, is one of the leading companies in the production of oil and natural gas. The growth of Obsidian energy has dramatically impacted to the economy of the United States as well as to the Canada community. The sustainable energy production in Obsidian Energy Company has positively affected all aspects of life in the country.

 

Economic Growth

Then Obsidian Energy Company produces environmentally friendly natural gas and oil. These types of energy are sustainable, affordable and accessible. Therefore, reducing the general cost of living. When the cost of living is low the economy of a nation goes high enabling the country to venture into other investment projects that generate more revenue. The state also receives foreign exchange through exportation of the energy products from Obsidian Energy Company thus increasing the economic growth in return.

 

Poverty Eradication

Obsidian Energy Company has also contributed to poverty eradication in the nation. The availability of affordable energy resources gives all an equal opportunity to meet their basic needs. The energy resources help facilitates the provision of necessities in the house. For example, energy helps in cooking, lighting, communication among other things. Obsidian Energy Company has created job opportunities to a good percentage of the unemployed. The ability to access energy resources and creation of job opportunities has led to improved living standards and reduced crime rates.

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Industrialization

The production of long-term energy resources in the Obsidian Energy has led to the growth of more industries. Investors and entrepreneur can access energy resources to help in facilitating the manufacturing and processing activities in their firm. Obsidian Energy Company also supplies industries with modern devices to connect with the energy sources. The uses of modern technology, therefore, grow rapidly. Consequently, the industries import items from developing countries, process them using their advanced technology and export them back at a higher charging rate. The continuous consumption energy has also ensured the stability of Obsidian Energy Company as well as that of the industries.

 

In conclusion, Obsidian Energy Company is the backbone of the well-being of all life aspects in the United States, both economically and socially.

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