I've seen some discussion around becoming efficient by cutting costs, and I think that's obviously necessary, but we have a bigger opportunity for efficiency. Many other industries have gained huge efficiencies by leveraging modern digital technology. We in the oil industry are nowhere near the cutting edge of digital technology, and we should be. There's a substantial window of opportunity to better use software to gain efficiency as well as increase quality and safety. Also, modern networking technology for collaboration and working remotely, 3D printing to put our hands on what's going on under the earth, better use of smart phones and tablets to make our field people more effective, and so forth. Imagine an internet of things at the rig, for instance, all talking to each other, with gloves that know what hardware the wearer is handling, and coveralls that warn the wearer when she is entering a hazardous area.
We're great at some areas of technology, and we've done a great job at enabling the recovery of oil and gas that used to be inaccessible, but we can do better with digital technology, and we should.