Business View Magazine | April 2020

79 BUSINESS VIEW MAGAZINE APRIL 2020 PETROLEUM EQUI PMENT & SERV I CES ASSOC I AT ION to better determine their future financial performance. “Money is not flowing into the sector quite as easily as it once did.” Tarpley explains. “A lot of investors are only investing in companies that they feel meet certain ESG thresholds. Some of the big investor funds don’t invest in oil and gas, at all, or if they do, it’s only in companies that meet certain scores. So, what we’re really focusing a lot on, this year, is to train our companies on how to improve what they do, how to behave in an environmentally-responsible way, and how to handle their board and hiring in a positive, progressive way. Ultimately, the goal is to have them improve their score.” Tarpley adds that PESA also advocates that its member companies continue to employ technologies that make the production of oil and gas cleaner and more efficient, while simultaneously promoting those technologies for use in the renewable energy sector. “Our companies produce technology and have expertise that can be used in the creation of energy however it’s done,” he remarks. “Right now, in the U.S. and around the world, oil and gas is, by far, the dominant source of energy, and we think there’s going to be tremendous growth in Africa and Southeast Asia, especially, that’s going to drive that growth for a while. However, our goal is to have our companies provide the technology to produce energy in whatever is the most efficient and economically sensible way to do it. For many years, there’s been this perception that it’s oil and gas versus renewables, versus nuclear, and that’s not how we see it. We see it as how we’re going to produce energy the world needs and how we’re going to do it in the best way possible. That’s what many of our companies have already moved toward, and we see that trend continuing.” “And those technologies that our companies create is an American success story,” Tarpley adds, in conclusion. “The United States has always