So what’s with the name? People, Ideas & Objects is derivative of Professor Paul Romer’s new growth theory. It used to be that if you wanted the economy to grow you needed to invest in expanding the base of the economy in three areas. In transportation, finance or communications. New growth theory suggests that this has changed and is now based on People, Ideas and Things. Since we are object based developers we simply changed things to objects. How do we expand the economic output of the oil and gas industry? Not with the bureaucrats I can assure you. What it is they’re doing I am not sure of, but it doesn’t seem to me to be anything that is positive. It seems to me to be self-interest that is driving them and in turn destroying the industry at a rapid rate. The need for change today is significant, the industry can not withstand too much more of this destruction. It needs to begin addressing its long term needs and building for that. Therefore it needs to reorganize and start that process fresh.
When I first published our budget in August of 2014 the bureaucrats laughed. It was well before the decline in oil prices and they only saw the difficulties in the natural gas side of the business. They also assumed that those would subside once the “market rebalanced” itself. The scope and scale of our budget is the most significant software development that has been undertaken in the oil and gas industry, and that is why it’s so costly. When I proposed it I knew it was controversial for those reasons, however, solving the issues in the industry can’t be undertaken with a shoestring budget. I think my approach, as represented in my budget accurately captures the scope and scale of the issue that we all face today. I’m sure the bureaucrats would have been happier with a $6 million budget, that would be more in line with their level of thinking.
Managing expectations and setting timelines that are well into the future are the only things that the bureaucrats are able to do at this time. To discuss the issue and any resolution to them would have to consider their elephant in the room, People, Ideas & Objects. And they can’t do that. It’s suicide for them. It’s as if they’re taxi dispatchers in the world of Uber. They’re redundant. So they will hang on saying and doing nothing for as long as they can before someone comes along and kicks them out of their chairs. Until then they still get paid and can talk about “market rebalancing,” thinking that people are buying the story.
We’re at a critical time in our evolution as a solution to the industry. I can look back at the work that I have done and know that I wasn’t wasting my time. We have a bright future ahead of us in the oil and gas industry. The probability of success of the People, Ideas & Objects initiative, our user community and service providers is on the verge of being 100%. We have some very difficult work ahead of us. Each of us has the opportunity to contribute to solving this issue for the industry. And in the process establishing for yourselves a valuable position as a member of the user community with ownership in a service provider that will become a significant part of the new oil and gas industries infrastructure. An opportunity in a lifetime really, and I think some of the best work that we’ve ever had the opportunity to get our hands on.
The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful means of oil and gas operations. People, Ideas & Objects Revenue Model specifies the means in which investors can participate in these user defined software developments. Users are welcome to join me here. Together we can begin to meet the future demands for energy. And don’t forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here.