Oil And Gas Industry Essay

Length: 3 pages Sources: 3 Subject: Sports - College Type: Essay Paper: #87571508 Related Topics: Bp Oil Spill, Osha, Lobbying, Renewable Energy
Excerpt from Essay :

Exxon Mobile Analysis

Industry Background

Exxon Mobile operates in the oil and gas industry which is one of the most valuable industries in the world. Oil fuels much of our modern lives and allows us the mobility granted by the automobile and the infrastructure that allows for easy transportation. Within the industry, ExxonMobil is the world's largest publicly traded international oil and gas company (ExxonMobil, N.d.). The industry is multifaceted and is composed of many different segments -- everything from the exploration of oil, the refinement process, and the transportation via ship, tanker, or pipeline. The industry as a whole can be thought of as containing three primary components: upstream, midstream, and downstream. The oil and gas is of critical importance to the world's economy because there are many other industries are directly dependent upon these fuels. For example, oil can be used as a raw material to produce many other goods. Furthermore, much of the world's population is dependent...

...

Currently, the country is dependent upon foreign oil supplies to meet its energy demand as the country has depleted the majority of its domestic supply. The reserves of oil that are still available in the United States are generally difficult to extract and are often considered environmental threats. Offshore drilling and oil reserves that are only accessible by hydraulic fracking represent the two best examples of controversial extraction methods. Therefore, regions such as the Middle East play a vital role in the country's future energy sources. Once the oil reaches domestic soils, the industry is subject to countless rules, regulations, and tax mechanisms.

Government Regulations

Oil is a toxic and dangerous substance that also contributes significant amounts of pollution when burned. Therefore there are many safety procedures that must be followed that are mandated by agencies such as OSHA for working conditions as well as environmental regulations that are maintained by agencies such as the EPA for pollution procedures. For example, when there was an oil spill in the Gulf of Mexico, OSHA conducted its own independent air monitoring, both on shore and on the cleanup vessels, and reviewed data from BP, the Environmental Protection Agency (EPA) and the National Oceanic and Atmospheric Administration (NOAA) (OSHA, N.d.).

ExxonMobil Industry Recommendations

One of the dominant themes in…

Sources Used in Documents:

References

ExxonMobil. (N.d.). About Us. Retrieved from Exxon Mobil: http://corporate.ExxonMobil.com/en/company/about-us

Kolmes, S. (2011). Climate Change. Enviornment, 33-37.

OSHA. (N.d.). OSHA's Efforts to Protect Workers. Retrieved from United States Department of Labor: https://www.osha.gov/oilspills/

Saeverud, I., & Skjareseth, J. (2007). Oil Companies and Climate Change: Inconsistencies between Strategy Formulation and Implementation? Global Environmental Politics, 42-45. Retrieved from Global Environmental Politics.


Cite this Document:

"Oil And Gas Industry" (2015, September 17) Retrieved January 22, 2022, from
https://www.paperdue.com/essay/oil-and-gas-industry-2154992

"Oil And Gas Industry" 17 September 2015. Web.22 January. 2022. <
https://www.paperdue.com/essay/oil-and-gas-industry-2154992>

"Oil And Gas Industry", 17 September 2015, Accessed.22 January. 2022,
https://www.paperdue.com/essay/oil-and-gas-industry-2154992

Related Documents
Oil/Gas Shortage Oil and Gas
Words: 975 Length: 4 Pages Topic: Energy Paper #: 52430277

But the basic rule of political economy may not be sufficient to best understand the matter; therefore, the problem will be analyzed within the international context. An additional cause, aside the diminishing resources compared against the increasing demand, could be given from within the United States and would materialize in an unstable economy and a weaker dollar, which is less trusted by the exporting countries. Then, the country possesses limited

Industry Analysis of US Oil and Gas Industry Oil Refining Industry...
Words: 2026 Length: 5 Pages Topic: Energy Paper #: 13484028

Industry Analysis of the United States Oil & Gas Industry This report is an industry analysis on the United States oil & gas industry but does not delve into the industry related exploration and production pre-refining activities. The focus will be on the major producers such as Shell, Mobil, Texaco, Gulf and Exxon and how they are affected by the 5-forces model analysis. The report also analyzes the competition structure of the major

Oil Firm Industry Analysis
Words: 2145 Length: 8 Pages Topic: Transportation Paper #: 48581352

Oil & Gas Management An Analysis of OPEC's Pricing Strategy: Has Saudi Arabia underestimated the resilience of U.S. shale oil? The global environment for oil and gas has changed significantly in just the last few years as a new set of market conditions have been created that can be defined by an increase supply in oil. These supply increases have largely come from technological developments that have allowed for new forms of

Oil and Gas Industry
Words: 969 Length: 3 Pages Topic: Energy Paper #: 30232233

structure o the global oil industry b. The structure of the global gas industry. The integrated oil and gas companies (IOCs) are vertical, tall, or centralized structures where producers refined 100% of their production and then marketed refined products through their retail outlets. Production and distribution was downward. Today many of these IOCs combine verticality with a certain horizontalness with many spreading their tasks over various fields and involved in

Oil Firm Industry Analysis
Words: 2688 Length: 9 Pages Topic: Transportation Paper #: 98795144

price of oil has fallen from around $120 per barrel about a year and half ago to around $50 per barrel. This has resulted in a sharp fall in revenues for all oil companies and specially the smaller companies that have a limited cash or revenue reserve. IN this condition this paper studies the possible strategies that can adopted by smaller oil companies to tide over the situation. For this

Oil and Gas Industry in
Words: 19369 Length: 70 Pages Topic: Business Paper #: 13266410

A large body of literature has treated many different aspects of these influences on Asia, Europe and the United States (Busser & Sadoi, 2003). The importance of the study relates to the current trends taking place in Libya where aggressive steps have been taken in recent years to normalize relations with the international community. For example, Libya opened up its programs to develop weapons of mass destruction to international