You want innovation in the oil industry? Imperial Oil has uttered the words “non-aqueous extraction” which would result in a revolutionary way to tap oil resources. The plan is to have it dramatically cut the energy and water costs associated with the large amounts of hot water used in the extraction process. It has been quoted as having the potential to totally eliminate fluid tailing ponds (i.e. a large cause for concern as the production of oil barrels looks to exponentially increase).
Although this technology isn’t even in a pilot / demonstration phase, it shows that there is huge promise on the horizon for innovation and breakthroughs for the oil and gas sector. It is our job as the next generation of bright students to educate ourselves in order to bite a piece of this pie and be part of the front line that develops this technology into a viable, REAL process.