Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Facebook's Zuckerberg drills down into North Dakota's oil patch

Published 12/07/2017, 17:32
Updated 12/07/2017, 17:40
© Reuters.  Facebook's Zuckerberg drills down into North Dakota's oil patch
EQNR
-
NBR
-
CL
-
NG
-
META
-

By Ernest Scheyder

(Reuters) - Facebook Inc (O:FB) Chief Executive Mark Zuckerberg toured a North Dakota drilling rig on Tuesday and peppered industry workers in the No. 2 U.S. oil-producing state with questions about automation, safety and fracking.

The visit to North Dakota, which pumps about 1.1 million barrels of oil per day - more than some OPEC members - is part of Zuckerberg's plan to tour all 50 states this year and learn about their local economies and communities.

While Zuckerberg, 33, is a vocal supporter of renewable energy development, he said the visit gave him an opportunity to meet with those who rely on oil and natural gas production for their livelihood and oppose tighter regulation of the energy industry.

"Many people I talked to here acknowledged (climate change), but also feel a sense of pride that their work contributes to serving real needs we all have every day - keeping our homes warm, getting to work, feeding us and more," Zuckerberg said in a Facebook post early Wednesday morning.

The Facebook co-founder flew his private jet into Williston, the de facto capital of the state's oil industry, and toured a nearby drilling rig operated by Nabors Industries Ltd (N:NBR) and an oil well owned by Statoil ASA (OL:STL).

Zuckerberg spent more than two hours with roughnecks on the drilling rig, asking about technology developments that have helped the U.S. shale industry in the past two years cut in half the time needed to drill a new oil well.

Representatives for Nabors and Statoil were not immediately available to comment.

In a picture accompanying the Facebook post, Zuckerberg can be seen wearing the oilfield uniform of fire-resistant coveralls and a hard hat. He is not wearing safety glasses or gloves but holds them in his left hand, a violation of rig safety rules.

"Zuckerberg was extremely intrigued by all the technological developments in the oilfields," said Ron Ness, head of the North Dakota Petroleum Council, the industry trade group that arranged the tour with Facebook.

Zuckerberg later held a community meeting to discuss education and housing. Politicians were not allowed to attend. The months-long delay of the Dakota Access Pipeline, which transports the state's Bakken crude oil, was also a main topic.

"A number of people told me they had felt their livelihood was blocked by the government, but when (President Donald) Trump approved the pipeline, they felt a sense of hope again," Zuckerberg said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.