Environmental Services in Indiana – Assignment Example

The paper "Environmental Services in Indiana" is an exceptional example of an assignment on environmental studies.  There are various environmental services that are of great importance in Indiana’s economy including;- farming, oil and gas extraction, livestock keeping, petroleum and coal production and many more. However, one of the key environmental services in this economy is oil and gas extraction. According to an overview report on the key economic sectors in Indiana in 2014, oil and gas extraction shows ideal demand and import growth, meaning its import share and value added is high.  The sector has also been growing in demand with its products being viable for export outside the region. The import growth was also positive and the products –oil and gas are exportable. Gas and oil were discovered and processed in 1886 in central Indiana and there was a lot of enthusiasm and very many wells were drilled. (Keller,et.al,23).This production declined after 1956 when it was at its peak till recent. This is mainly because over the years prices of oil had decreased, causing a decrease in wells being drilled therefore decreasing oil being produced. There have been researches and interventions made to increase the volume of oil and gas produced. Despite the attempts, the rate of extraction and production is still lower than before. With a decrease in the oil and gas production, in future, this service may no longer be present. This may cause a major setback in Indiana’s economy because from the reports it is clear that this service is key especially judging from how its demand has been growing over the last years.