Oil is often found in remote hostile locations such as Antarctica or the Middle East. Oil has global political influences. Western countries are seeking to gain political influence in regions of the Middle East that have a large oil reserves. As a result of the west’s hunger for oil the increase in price has been a major drain on the financial reserves of many developed countries and beyond the reach of most developing countries, because of this developing countries are forced to use less effective fuels. One attempts by western countries to ensure a supply of oil has been the BT C pipeline, which is brought problems than benefits for the country’s that it runs through and the people of those countries.
But in recent studies these chemicals have caused health problems such as Liver cancer, fertility problems and other developmental issues in humans and animals. (So basically the dispersants are working but once they do their job, they are sinking to the bottom of the ocean and making things worse) Environmental groups attempted to obtain information regarding the structure of ingredients in Corexit through the Freedom of Information Act but were denied by the EPA. The EPA later released a list of all 57 chemicals in the 14 dispersants on the EPA’s National Contingency Plan Product Schedule after Earth Justice sued on behalf of the Gulf Restoration Network 5 are associated with cancer, 33 are related to skin irritation that is anywhere from rashes to severe burns, 12 with eye irritation and 7 with kidney/respiratory toxins and all are toxic to aquatic life. As you can see in these pictures it is devastating to wild life. Some immediate impacts consist of oil coated bird feathers causing birds to lose their buoyancy and the ability to regulate body temperature.
The Gulf coast contributed to about 10 percent of the nation's oil supply, which was disturbed due to hurricane Katrina. As a result, oil and gasoline prices were soared high. Luckily, no catastrophic damage was incurred in the oil infrastructure. Hence, the situation was under control within the next 9 months. In addition to disruption in the national economy, a damage to private and public properties also contributed to the overall economical effects of hurricane Katrina.
The loss of the whale habitat is caused many by humans. Landfills, harbors, shipping channels, fisheries and fish farms occupy or destroy areas the area needed for feeding, resting and breeding (Habitat Loss). 2. The use of marine areas can drive away the whales that would normally use those areas (Habitat Loss). B.
English 112 9/25/2011 Why would depleting our world of all its natural resources be a good thing? In this review written by Tyler Hamilton, he looks into a new oil (Oil Sands) found on the U.S. and Canada border. It is apparent that he feels this is a positive find but I’m not so convinced. This could be bad because of cost, Demand increase, and the lack to look for better alternative solutions. This is not the oil they are pumping out of Texas or the Middle East; it is dirty oil that has to be extracted and cleaned.
The second part of Lee’s strategy was heavily focuses on exploration and expenditures to discover new oil reserves. Under Lee’s leadership, the number one priority of Gulf Oil Corp. was to replace domestic reserves of hydrocarbons through discoveries and acquisitions. Eventually, falling oil prices led to increased debt due to a large focus on exploration that wasn’t necessarily resulting in increased profits for the company. In 1984, the CEO of Mesa Petroleum Company, Boone Pickens, began trying to gain a majority stake in Gulf Corp. Gulf was against this because they saw it as Pickens attempting to gain control of the company, only to benefit from the current revenues and reserves without preserving the company outlook. Boone Pickens was not concerned with the future of Gulf, but rather the major reserves of oil that they already possessed.
11.20.14 In the 1970’s OAPEC (Organization of Arab Petroleum Exporting Countries) established an oil embargo that caused gas prices to rise from $3.00 to up to $12.00 a barrel. Due to this drastic increase, the government, under President Jimmy Carter administration, set price controls on the price of gasoline. This not only lead to higher gas prices, but caused a rationing of gas, which lead to extremely long waits at the gas pump. To remedy the long lines, consumers where assigned a day to purchase gas, based on their odd or even numbers license plates. This instability of the supply of gas was known as the “Gas Crisis “or “Gas Shock” of 1973.
President Pena Nieto believes that the reform is the answer to many of Mexico’s oil industry’s problems. Mexico’s oil company, Pemex, has been experiencing a consistent drop in oil production over the past decade. Many of their oil sites are drying up and Pemex has few resources to devote to research and technology that could help them tap into their vast, untouched oil supplies. President Pena Nieto’s privatization proposal comes with its own set of obstacles, first of which is modification of Articles 27 and 28 of the Mexican Constitution. The modification would allow contracts between the Mexican government and private companies to share profits from the extradition of oil and gas throughout the country, as well as, the deep-water sites located in the Gulf of Mexico (Krauze, 2013).
Shell’s net income also rose to $6.98 billion in the 3rd quarter of 2011, an increase of 100% from the previous year. Does it even seem possible that these companies have posted such high earnings while the rest of the world is in a recession? While oil prices rose due to instability in the Middle East, specifically Libya, oil production was completely halted. How is that feasible in a highly regulated industry? To effectively delve into this topic, we need to examine this from two standpoints: ethical and legal.
The Impacts of Hydraulic Fracturing On the Environment Dependence on foreign oil has long been a concern of Americans. Therefore many arguments have ensued between officials in charge of finding a solution to that dependence. While those arguing had their heads turned, an entity far more menacing than foreign oil began drilling deep into American soil in an effort to gain access to previously unreachable stores of natural gas contained in the shale beds deep within the Earth. That entity is a government sanctioned method called Hydraulic Fracturing or fracking. While fracking does have the power to reduce American dependence on foreign oil, that process leaves the Earth, air, and water contaminated and inhabitable Hydraulic Fracturing (fracking) involves a method of injecting water, sand and chemicals into a drilling site, those chemicals have shown to be hazardous to human health and well- being.