The oil and gas industry is known as a generous one, and its charitable giving should come as no surprise to those who work in it. The charitable donations given by oil and gas companies can take many forms, from scholarship funds to food drives to clothing donations. Many oil and gas companies also go beyond just financial support, as volunteers from the industry often take time out of their schedules to give back as well. In times of crisis, the generosity of the oil and gas industry truly shines through, with numerous organizations setting up funds specifically for those affected by various disasters.

How the oil and gas industry shows their charitable side

In 2018 alone, 62 members of the Colorado Oil and Gas Association (COGA) ended up donating $17,611,365.17 to local non-profits. Donations also came in the form of time as industry employees gave a combined 8,874 volunteer days between community outreach and charity events. Many folks make an immediate judgment on oil and gas companies and see them as nothing but major companies that produce natural resources at scale. While this is true, a lot of the money finds its way back into local and federal programs through taxes, and these companies continue to give even more voluntarily. This ensures that the community is able to enjoy some charitable donations for generations to come.

Scholarships

The American Petroleum Institute (API) established its education foundation to help workers in all aspects of the oil and natural gas industry. It offers scholarships for both undergraduate and graduate students who are pursuing an engineering or science degree. The API Scholarship program awards nearly $1 million in scholarship money each year, and each student can apply for up to four scholarships worth $10,000 each. It’s not just organizations like the API and SPE giving away scholarships. Even companies like BP will sponsor students internationally, giving away hundreds of thousands in financial assistance every year. These entities definitely understand the value of education and do their best to give back.

Community Donations

Many different folks benefit from the money of oil and gas organizations on an even more direct level. These organizations will donate school supplies to children, blankets to the homeless, hygiene kits for those in need, and toys for the underprivileged. You don’t have to be a supermajor to get in on the giving. California Company, Aera Energy, sponsored the construction of a sizeable ballpark that allows hundreds of local children to participate in local sports every year. These donations are the ones built to last that will continue to provide entertainment, happiness, and comfort to anyone, whether or not they are in a time of need.

We wanted to focus on this topic as the holiday season comes around. These organizations understand giving is important. Giving on a personal level can have just as much of an impact too. If you can afford to give your money look towards organizations like “Toys for Tots” or other organizations that may benefit groups that you would like to support whether that be veterans, the homeless, or food banks. Keep this in mind for when times improve and a barrel of oil is worth more than $100 a barrel because we in the industry might benefit, but those reliant on the products oil provides may not be as fortunate.

Additional Sources

https://www.coga.org/factsheets/community-impact

RARE PETRO Updates

Content Updates – News Pulse – Podcast

• A New Basin Breakdown for the month of September is available now! Be sure to check out the latest articles and Basin Breakdown Podcast! 

• The ongoing oil crisis in the US has caused many people to ask why gasoline prices have skyrocketed to record highs despite the fact that the supply of oil available to the market has increased in recent weeks. The simple answer is that a great deal of oil has been shipped from overseas and stockpiled in U.S. ports, but the bottleneck getting the oil from those ports onto land has caused prices to rise anyway as labor bottlenecks transform into supply bottlenecks. Check out our latest periodical HERE to learn more!

• RARE PETRO is the tik talk of the town! Short-form content to educate both the public or industry professionals is available NOW! Check out our latest Tik Tok Video uncovering what Holywood does not understand about a blowout. 

• RARE PETRO and Rainmaker GBD collaborate on a monthly newsletter highlighting everything you need to know about the energy sector. This is a video interview with RARE PETRO’s Anthony McDaniels as he speaks on the biggest stories and dives a little bit deeper into supporting data. Welcome to the second edition of “Side Chat”. 

• Sam Gibbs revolutionized the way a rod pumped well would be managed dozens of times over. As a brilliant engineer, mathematician, and disciplined man he worked passionately to change the trajectory of rod pump technology for generations. Find out more in episode seven of Hydrocarbon History! 

• Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Report to see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round. 

• As Always, A New Monday Madness Podcast! 

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