Assess the costs and benefits of oil production in regions around the world. (15 marks) As a result of all production around the world there are many costs and benefits on a global and local scale. Globally oil is the world’s largest oil and political influence crossing the international boundaries. Several of the world’s largest transnational enterprises are oil companies. Oil is often found in remote hostile locations such as Antarctica or the Middle East.
However, fossil fuels are becoming extinct and there are not many resources left. I believe we should start finding alternative solutions that will be as beneficial as the use of fossil fuels. There are three types of fossil fuels: coal, oil, and natural gas. They are not renewable which means they can't really be made again so there is not an unlimited supply of fossil fuels. Fossil Fuels are formed from animals or plants that lived millions of years ago.
Gulf Oil Case Summary In the late 1970’s Gulf Oil Corporation noticed a negative outlook on the future of their company. Oil reserves were reaching all time lows, and the future didn’t look bright for Gulf. In response to the poor company performance, James Lee became chairman of Gulf Corp. and entered the company with a different outlook. Lee’s strategy was to focus on oil, and move away from Gulf’s history of acquiring coal mines, uranium mines, and other such resources. The second part of Lee’s strategy was heavily focuses on exploration and expenditures to discover new oil reserves.
However, the drug needs to be tested extensively and researched further before it can be used in humans. This would require millions in investments but little financial returns, because most of the affected people in third world country cannot afford the drug. Merck spent a lot of money on research and believed that its future success depended on inventing new drugs. A possible hope for Merck was that some international organization like WHO might partially fund the program. Dr. Vagelos would make the final decision.
To effectively delve into this topic, we need to examine this from two standpoints: ethical and legal. We will begin with the ethical argument. In the past, Exxon has been accused of being unethical. In the tragic 1989 Exxon-Valdez incident near the Alaskan shores, millions of gallons of crude oil were spilled. The environmental damage was immeasurable, and thousands of lives were affected.
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.
This essay will focus on the geopolitical and environmental impacts of the changes in supply and demand of oil. It will explore the different sides of the spectrum in which many believe that the general increase for the demand of oil, in which currently 100mn tonnes of oil is transported around the oil daily has only negative impacts. The essay will provide a balanced analysis of the impacts and will uncover the assumptions behind the arguments. Firstly I will focus on the environment impacts such as the damage to ecosystems due to oil spills, increasing carbon dioxide emissions due to the increase demand as well as examine the use of untested technology in order to obtain oil and to increase supply. The negative geopolitical impacts include the deterioration of political relations between countries as countries may fight over resources, as well as the over-reliance on countries that is rich in oil, resulting in a group of countries rising in terms of political influence due to their control over oil supply.
It would be better if in the construction of an oil platform have been used more trusted parts for example the liner. The disaster at the Deepwater Horizon - not only large-scale oil spill, which turned out to be the culprit company BP. In 2007, BP Products North America paid as a fine of more than $ 60 million for violating federal laws on environmental protection in the territory of Texas and Alaska. The list of these violations and the largest spill in 2006 on North Slope (1000 tonnes of crude oil), when the reason was the unwillingness of the company to take adequate measures to protect the pipeline from corrosion. It is obvious that the company relate to safety with frivolous responsibility and negligence.
Drilling in Alaska Some of the most amazing landscapes I have seen have been out of the Alaskan wilderness, but unfortunately it is threaten by industrial expansionists wishing to drill for “black gold” or Oil. I will be analyzing an essay from 1991 entitled The Great Alaskan Debate: Can Oil and Wilderness Mix? By Timothy Egan. In this essay he writes a well researched topic that has been in debate for years, drilling in Alaska. I will look extensively for example in which Egan simultaneously uses the pros and cons to show that Oil drilling will have a negative effect on the Alaskan environment.
The case suggested that there has to be strong internal and external analysis done. Also, one big key to strategic management that the case shows is that everyone has to be committed in order for the company to be successful. The prime example about commitment shown in the case was the failure of the EV-1 due to the company not putting all its weight behind it. 2. One trend that favored the pursuit of the Chevy Volt project was the rise is high oil prices leading to the rise is high gas prices.