IMPACT OF GEOSCIENCE DATA PRESERVATION ON THE ECONOMY AND FUTURE GENERATIONS

The use of Geoscience data resulting in new discoveries and redevelopment of old oil and gas fields and mineral deposits results in more investment in the community, creation of more jobs, an infrastructure resulting in sustained economic growth, and increased tax revenues.

Conclusions reached using Geoscience data provides information to government and industry, allowing intelligent planning decisions concerning assessment and management of valuable natural and strategic resources.

Without this data, more resources will be consumed in duplicated exploration and development and there would be a greater chance of failure because of increased cost overrides and decreased production. Intelligent planning decisions are based on data. Without good and efficient management of current and future resources, economic development cannot be sustained. Geoscience data provides solutions to scientific, economic, and environmental issues and potentially to natural disasters.

Preservation of Geoscience data will impact future generations. It will provide opportunities to conduct research, development and exploration leading to new discoveries. In addition, an established record results in greater scientific success and predictability. Also, less development and exploration time, lower exploration cost, increased efficiency and greater safety. Some data is irreplaceable and will be cost prohibitive to reacquire in the future. Data will be available to rework old reservoirs, reevaluate environmental concerns and predict natural hazards using new technology and new extraction enhancement techniques. This will ensure continued economic prosperity, and energy independence resulting in greater national security. It is imperative that training and educating the next generation take place, as knowledge is the key to success.