Nanotechnology Prospects in the Petroleum Industry

Fulfilling worldwide energy demand in the 21st century is the most challenging problem. Current technologies simply cannot meet these demands. Therefore, we need new discoveries in underlying core science and engineering to find answers to this problem. Nanotechnology offers the prospect of opening an entirely new frontier for energy exploration, the ability to stretch the limits of our current energy sources and to go beyond these sources into new and uncharted territories. Nanotechnology is poised to impact dramatically on all sectors of the energy industry. There is great potential in nanotechnology research to revolutionize the petroleum industry and for the industry to capitalize on nanotechnology's immense benefits. Nanotechnology may someday boost the average global recovery factor of oil and gas. Research in nanotechnology in the petroleum industry is advancing rapidly and an explosion in the application of nanotechnology in this area is to be expected in the next 5 years. This article will specifically address the need for nanotechnology in the petroleum industry that can aid in the development of cheaper, more efficient, and environmentally appealing energy supplies. It also covers the promises of alternative energy sources using nanotechnology.