Oil Industry Essays (Examples)

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Oil Prices the Effects of

Words: 1772 Length: 6 Pages Document Type: Essay Paper #: 86678855

The member nations of OPEC are relatively few, making it easier for them to form a producing conglomerate; the idea of a consumer conglomerate is untenable, as OPEC will always be able to find an extensive enough market for its commodity with other countries not in this conglomerate, and thus they can still control the price.

Conclusion

The oil industry is not fueled by supply or demand so much as it is by the simple motivator of most economic decisions -- greed. Economies exist precisely because there is competition for limited resources. Any more, the resources that are actually necessary for life are not limited in the developed world, and the competition for unnecessary resources ends up depriving other regions of basic necessities. The oil producing countries of the world are cashing in on the system like and "intelligent" economic actor.

orks Cited

Econbrowser. "New study of the effects of…… [Read More]

Works Cited

Econbrowser. "New study of the effects of oil price shocks on the economy." Accessed 1 November 2009. http://www.econbrowser.com/archives/2007/05/new_study_of_th_1.html

Katayama, Munechika. "Declining Effects of Oil=price Shocks." University of California, San Diego. Accessed 1 November 2009. http://dss.ucsd.edu/~m1kataya/paper/OilShock.pdf

Lorde, Troy; Jackman, Mahalia and Thomas, Chrystol. "The macroeconomic effects of oil price fluctuations on a small open oil-producing country: The case of Trinidad and Tobago." Accessed 1 November 2009. http://ideas.repec.org/a/eee/enepol/v37y2009i7p2708-2716.html

Reynolds, Alan. "Oil Prices: Cause and Effect." Cato Institute. Accessed 1 November 2009. http://www.cato.org/pub_display.php?pub_id=3947
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Oil Increased Access to Offshore

Words: 2906 Length: 8 Pages Document Type: Essay Paper #: 66820675

283). This led to the National Environmental Policy Act of 1969 (NEPA). This Act acknowledged the fact that there was a lack of knowledge about the ocean ecosystem. This was an important insight and "At its core, NEPA requires federal agencies to produce an environmental impact statement (EIS) whenever they propose a major federal action" but " it was unclear from the original language of the statute whether the lease of oil exploration rights was covered" (othbach, 2007, p. 283). However, in 1978 Congress amended this Act with regard to the current state of the law governing the leasing of offshore oil exploration rights. The 1978 amendments "…specifically state that if a plan for development and exploration of offshore oil resources is a major federal action, then an EIS must be produced" (othbach, 2007, p. 283). These events were to contribute to the growing concern about the environmental impact of…… [Read More]

References

Baird, S.L. (2008). Offshore Oil Drilling: Buying Energy Independence or Buying Time?. The Technology Teacher, 68(3).

Boesch, D.F., Butler, J.N., Cacchione, D.A., Geraci, J.R., Neff, J.M., Ray, J.P., et al. (1987). Chapter 1 an Assessment of the Long-Term Environmental Effects of U.S. Offshore Oil and Gas Development Activities: Future Research Needs. In Long-Term Environmental Effects of Offshore Oil and Gas Development, Boesch, D.F. & Rabalais, N.N. (Eds.) (pp. 1-53). London: Elsevier Applied Science. Retrieved March 14, 2010, from Questia database: http://www.questia.com/PM.qst?a=o&d=108893334

Boesch, D.F. & Rabalais, N.N. (Eds.). (1987). Long-Term Environmental Effects of Offshore Oil and Gas Development. London: Elsevier Applied Science. Retrieved March 14, 2010, from Questia database: http://www.questia.com/PM.qst?a=o&d=108893325

Bradley, S.B. (1982). The Politics of Offshore Oil (J. Goldstein, Ed.). New York: Praeger.
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Oil to What Extent Would

Words: 12170 Length: 29 Pages Document Type: Essay Paper #: 3062529

If Nigerian local content law is not complied with equires licensee to submit a detailed programme for recruitment and training of Nigerians

(Nigerian Local Content Policy)

2.3. History of the LCL

The Local Content Law was signed into law in April 2010 by acting President Goodluck Jonathan. In brief, the Nigerian Oil and Gas Industry Local Content Development Bill 2010 places "…obligations on upstream oil companies in the areas of finance, community and local workforce" (Examining Nigeria's Local Content Act). The process that led to this Bill began in 2007. The initiator of the Bill, Senator Lee Maeba, provides some interesting insight into the originating impetus that led to the final acceptance of the Act. He states,

I saw that there is no law guiding the activities of Nigerian companies in the oil and gas industry and because of that, there has been a capital drift...and that is the reason…… [Read More]

References

Adefulu a. Nigeria: National Treatment & Nigeria's New Local Content Legislation.

Retrieved from  http://www.mondaq.com/article.asp?articleid=102400 

Adefulu O. ( 2010) Does the Nigerian Oil and Gas Industry Content Development Act

Conflict with the Country's International Treaty Obligations? Retrieved from  http://odujinrinadefulu.com/documents/Does%20Nigeria%27s%20local%20content%20legislation%20breach%20its%20international%20obligations.pdf
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Oil Firm Industry Analysis

Words: 2145 Length: 8 Pages Document Type: Essay 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 to extract such as shale oil which has in turn reduced the dependence on the cartels and Middle Eastern oil (Doshi & Corrigan, 2015). There have also been changes in the demand due to technology development as well. Engines and efficiencies have reduced the total demand for oil per user despite the fact that the number of total oil and gas users have increased rapidly in the developing world.

The oil industry serves as the foundation for…… [Read More]

References

Agnihotri, G. (2015, October 7). Decoding Saudi Arabia's Strategy In Its Oil Price War. Retrieved from Oil Price: http://oilprice.com/Energy/Energy-General/Decoding-Saudi-Arabias-Strategy-In-Its-Oil-Price-War.html

Carroll, J. (2015, September 18). Shale Bargains. Retrieved from Bloomberg Business: http://www.bloomberg.com/news/articles/2015-09-18/exxon-said-to-be-on-the-hunt-for-shale-bargains-in-west-texas

Doshi, V., & Corrigan, J. (2015). 2015 Oil and Gas Trends. Retrieved from Strategy &: http://www.strategyand.pwc.com/perspectives/2015-oil-gas-trends

Egan, M. (2015, November 23). Oil crash sparks OPEC revolt against Saudis. Retrieved from CNN Money: http://money.cnn.com/2015/11/23/investing/saudi-arabia-opec-revolt-oil-prices/
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Oil and Gas Industry in

Words: 19369 Length: 70 Pages Document Type: Essay 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 scrutiny and renounced terrorism as a political tool (Libya, 2010). Moreover, the country's political leadership has been equally forthcoming in its efforts to normalize their relations with Western nations since 2003 (Libya, 2010). More recently, Libya has been removed from the U.S. State Department's list of states that sponsor terrorism in 2006 and in 2008, Libya joined the United Nations as a nonpermanent member on the UN Security Council during the 2008-2009 term (Libya, 2010).

Other signs that clearly point to…… [Read More]

References

About us. (2010). Mobil. Retrieved from http://www.exxonmobil.com/Corporate/about.aspx.

Al-Waha Oil Company overview. (2010). Al-Waha Oil Company. Retrieved from http://www.

wahaoil.net/company_overview.htm.

Announcement of oil discovery. (2010, July). National Oil Corporation. Retrieved from http://en.noclibya.com.ly/index.php?option=com_content&task=view&id=1423&
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Oil and Gas Industry

Words: 969 Length: 3 Pages Document Type: Essay 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 various simultaneous activities. They operate in many segments, whilst also buying and selling oil and gas to and from other firms. The companies are therefore centralized around a certain core management with specialists in each field clustered in tiers underneath.

The vertical structure denotes uses a hierarchical structure with downward directives and management span of control where underneath tiers are controlled by and responsible to upper levels of management. Again, each of the firms demonstrate this vertical structure in diverse…… [Read More]

Sources

Charon Advantages & Disadvantages of the Vertical Functional Organizational Structure

 http://smallbusiness.chron.com/advantages-disadvantages-vertical-functional-organizational-structure-1268.html 

Inkpen, A The Global Oil and Gas Industry -- 2010. Thunderbird.
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Oil Firm Industry Analysis

Words: 2688 Length: 9 Pages Document Type: Essay 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 study we take the case of BNK Petroleum. The study reveals that the company expended more than three forth of its revenue of exploration which was one of the major causes of losses. It was recommended that the company should reduce its exploration expenses and look to venture into new markets of South America and Africa. To enable financing of marketing expenses in these markets, it has also been recommended that the company dilute some of its equity. To further…… [Read More]

References

Bhar, R. and Nikolova, B. (2010). GLOBAL OIL PRICES, OIL INDUSTRY AND EQUITY RETURNS: RUSSIAN EXPERIENCE. Scottish Journal of Political Economy, 57(2), pp.169-186.

Bnkpetroleum.com, (2015). Frequently Asked Questions -- BNK Petroleum Inc. -- TSE: BKX. [online] Available at: http://www.bnkpetroleum.com/about-us/faqs?view=category&id=17 [Accessed 17 Nov. 2015].

Fine, L. (2009). The SWOT analysis. [Place of publication not identified]: Kick It.

Grant, R. and Grant, R. (2005). Contemporary strategy analysis. Malden: Blackwell.
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Oil and Gas Industry

Words: 782 Length: 3 Pages Document Type: Essay Paper #: 87571508

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…… [Read More]

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.
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Oil Prices & Houston Economy

Words: 1059 Length: 3 Pages Document Type: Essay Paper #: 34864214

Houston's economy is heavily dependent on the oil industry. Thus, when oil prices decline, the fortunes of Houston's economy should be expected to decline. In economics, the concept of stickiness applies. This means that the price of goods will move differently in the short run vs. The long run. Things like jobs and housing are generally sticky, so it would not be expected that the economy of Houston would change much, based on a short-term change in the price of oil. People will still have their jobs, and thus would still keep their houses. But when the change in the price of oil persists over a longer period, companies will begin to adjust, bringing about what should be noticeable changes in both the job and housing market. The GDP will adjust a little bit faster, given the oil values are going to affect the GDP directly. At this point in…… [Read More]

References

Janikowski, P. & Philip, J. (2015) The economy at a glance. Greater Houston Partnership. Retrieved April 15, 2015 from  http://www.houston.org/pdf/research/quickview/Economy_at_a_Glance.pdf 

Olick, D. (2015). Houston housing awaits spring chill. CNBC. Retrieved April 15, 2015 from http://www.cnbc.com/id/102424293

Sarnoff, N. (2015). Houston area builders face uncertain future. Houston Chronicle. Retrieved April 15, 2015 from  http://www.houstonchronicle.com/business/real-estate/article/Houston-are-builders-face-uncertain-future-6000426.php 

Schneider, A. (2015). In Houston, falling oil prices spark fears of job cuts beyond energy. NPR.org. Retrieved April 15, 2015 from http://www.npr.org/2015/03/03/390159176/in-houston-falling-oil-prices-spark-fears-of-job-cuts-beyond-energy
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Industry Is Accused of Being

Words: 865 Length: 3 Pages Document Type: Essay Paper #: 5206999

).

In assessing which of these models of a market would be most beneficial to the interest of a business, the most obvious choice is a pure monopoly. Although this model does not necessarily provide the best option for operations in terms of many aspects regarding society as a whole, in terms of business sense, it is the most beneficial and profitable model for a firm to operate in. As a business owner, if the product or service provided by a firm does not face competition from any other firm, the costs of providing the product can be lowered, supply can be determined at the full discretion of the firm, and pricing can also be fully left up to the firm.

Additionally, in some industries, a pure monopoly serves the purpose of providing stability and uniform standards. The Microsoft case is one in which this is a strong argument, as…… [Read More]

Works Cited

Bloch, David (1996) "The Salt Monopoly in France," published online at  http://salt.org.il/frame_econ.html . Accessed 5/20/06.

Boardman, Anthony E., and Aidan R. Vining (1989) "Ownership and Performance in Competitive Environments." Journal of Law and Economics 32 (April 1989): 1-34.

Cusumano, Michael, and Richard W. Selby (1995). Microsoft Secrets: How the World's Most Powerful Software Company Creates Technology, Shapes Markets and Manages People. Free Press.

Mankiw, Gregory (2003). Principles of Economics 3rd edition. Mason, OH: Thomson Higher Education.
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Concept of Technology in Drilling Oil

Words: 1307 Length: 4 Pages Document Type: Essay Paper #: 42103660

Oil Drilling Technologies

The nature of Oil drilling technology varies depending on the topographic situation of the drilled place. With time, several technologies have been applied and are all geared towards achieving the best product at the limited time possible. Most of the technologies are now over a century old and are applied differently. Currently, the technologies have developed to integrate superior orientations like computer-aided simulation. In fact, the technologies have improved to withstand different pressures of various topographies. This study will present four decisive technologies applied in oil drilling, their variations, merits, and demerits.

The Direct otary Drilling

This technology was first implemented in 1808 at uffner's Oil in UK. This methodology was developed to increase the rate of the drilling process. To reach greater depths, the bale tool technique was applied. These techniques include rotary bucket auger or rotary bucket auger drilling. The rotary methods involve rotating a…… [Read More]

References

Bu, C.G., Li, J., & Long, B. (2013). Modal Analysis and Numerical Solution in Cable Drilling System. Advanced Materials Research, 819, 48-54

Du, Y.K., Wang, R.H., & Ni, H.J. (2011). Feasibility of Particle Jet as a Drilling Medium for the Development of Deep Complicated Oil-Gas Reservoir. Advanced Materials Research, 361-363, 465-468

Haldar, S.K. (2013). Mineral exploration: Principles and applications. Waltham, Mass: Elsevier

Orszulik, S.T. (2008). Environmental technology in the oil industry. Dordrecht: Springer
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Industry Specific

Words: 585 Length: 2 Pages Document Type: Essay Paper #: 18807780

Industry Specific

My industry of choice is the auto industry, and I will analyze it using the PESTEL framework. The political environment is critical to the auto industry for a couple of reasons. In most countries, the auto industry is significant, and therefore becomes politicized. The bailouts of GM and Chrysler are just two examples -- albeit extreme ones -- of the intense government involvement in the shape and size of the automotive industry. Another good example is NAFTA, which has resulted in production shifts to Canada and Mexico, but also the opening of the Mexican market. The current climate holds that the governments of the U.S. And Canada are divesting some of their control over GM and Chrysler, but will remain heavily involved in the industry, with the objective of supporting the Big Three, as well as major foreign automakers. The political environment also shapes demand conditions. For example,…… [Read More]

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Oil Prices The Economic Consequences

Words: 580 Length: 2 Pages Document Type: Essay Paper #: 41313984

Higher prices means a decrease in demand, and consumers who are already experiencing difficulty paying for basic goods and are even less apt to buy luxury items. Consumers are more likely to cut things out of their budget, and look for lower-priced items when shopping for necessities. Already, I find myself buying generic goods, looking for food on sale, and putting off replacing clothing and shoes with new items. Some people are even giving up beef, not for ethical reasons, but because it is lower in price than chicken and vegetables substitutes (Krauss 2008, p.1).

Not all industries are suffering because of higher fuel prices. Of course the oil and gas companies themselves are flourishing. Also, while the local middle-level chain restaurants in my town appear to be patronized less than they were, discount department stores seem to be doing well, as consumers can get all of their shopping done…… [Read More]

They less money I spend in general, but particularly on luxuries, the more manufacturers' inventories build up in warehouses, and the fewer new workers are employed. This economic 'spiraling' effect means that I face an increasingly competitive job market and the less likely I am apt to spend money on consumer goods, the more likely I am apt to face the difficulty of finding a high-paying job or any job at all, so I can pay for my student loans. In general, all workers may also have to reconsider the value of taking certain jobs, or a second job to make ends meet, because of the prohibitive costs of a long commute.

Because they too must deal with the concept of scarcity and finite resources, producers must raise prices on goods and services, because it costs more to transport all products across the country and overseas. Higher prices means a decrease in demand, and consumers who are already experiencing difficulty paying for basic goods and are even less apt to buy luxury items. Consumers are more likely to cut things out of their budget, and look for lower-priced items when shopping for necessities. Already, I find myself buying generic goods, looking for food on sale, and putting off replacing clothing and shoes with new items. Some people are even giving up beef, not for ethical reasons, but because it is lower in price than chicken and vegetables substitutes (Krauss 2008, p.1).

Not all industries are suffering because of higher fuel prices. Of course the oil and gas companies themselves are flourishing. Also, while the local middle-level chain restaurants in my town appear to be patronized less than they were, discount department stores seem to be doing well, as consumers can get all of their shopping done in one store, minimizing gas usage, and also look for bargains. I realize that I am lucky to live in an area of the country that is not suffering as much as some other regions. Not all regions of the U.S. are equally affected -- urban dwellers with access to public transportation and for whom car-pooling is more feasible are less cash-strapped than residents of extremely remote, rural areas dependent upon agricultural production. "Across broad swaths of the South, Southwest and the upper Great Plains, the combination of low incomes, high gas prices and heavy dependence on pickup trucks and vans is putting an even tighter
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Project Management in the Oil

Words: 5052 Length: 15 Pages Document Type: Essay Paper #: 16699228

(Braunschweig; Day, 150)

Most of the current generation of project managers expects the project management tools to furnish them with almost real-time knowledge in order to facilitate their decision-making. Some of these tools like DOFF, "Field of the Future," "Smart Fields," Microsoft's "Oilfield Connectivity" and i-Fields are currently being examined by exploration and production oil companies. Some of these tools have the capability of generating information from apparently incongruent data and helping managers take important decisions based on them. (Oilfield Connectivity - Capturing the Value of the Digital Era)

There is substantial amount of risk in oil exploration and production since the concerned target is located many thousands of feet under the ground. There are a number of factors that can cause uncertainties and risks in these fields which may include the weather, people, geology, safety, and availability of tools and equipment. Agility is an important requirement in the oil…… [Read More]

References

Barkley, Bruce T. Integrated Project Management.

McGraw-Hill Professional, 2006.

Braunschweig, Bertrand; Day, Ron. Artificial Intelligence in the Petroleum Industry:

Symbolic and Computational Applications. TECHNIP. 1995.
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Dollar Oil Economy Analyzing the

Words: 2621 Length: 8 Pages Document Type: Essay Paper #: 83869066

John Perkins (2007), likewise, examines how the modern American Empire has affected our economy and our society in his book the Secret History of the American Empire.

Perkins reveals nothing new when he contends that the United States makes up "less than 5% of the world's population…[yet] consumes more than 25% of the world's resources" (p. 5). What he does do with this information is use it as a platform from which to analyze America's position in the global arena. How is America able to consume so much? According to Perkins, "this is accomplished to a large degree through the exploitation of other countries, primarily in the developing world" (p. 5).

As Howard Zinn points out, European powers, beginning in 1897, were pushing their way into China, a potential nation ripe for exploitation. The only problem was that America was not in on the action. What Zinn shows is how…… [Read More]

Reference List

Borowski, J. (2011). Government to Blame for Rising Gasoline and Food Prices.

FreedomWorks. Retrieved from http://www.freedomworks.org/blog/jborowski/government-to-blame-for-rising-gasoline-and-food-p

Dawson, R. (2011). Why 9/11 Still Matters. Anti-Neocons. Retrieved from http://www.rys2sense.com/anti-neocons/viewtopic.php?f=11&t=26320&hilit=iran+contra

Knightley, P. (2001). Taliban Rise to Power. The Guardian. Retrieved from  http://www.rense.com/general14/rise.htm
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Heavier Environmental Regulation on Oil and Gas Drilling Activities

Words: 5303 Length: 16 Pages Document Type: Essay Paper #: 7385089

Regulating Oil and Gas Drilling and Transport

The American economy runs on energy produced from oil, coal, natural gas, hydroelectric power, nuclear power and renewable sources like solar and wind energies. In fact according to a report in the Congressional Research Service, oil provides the United States with 40% of its total energy needs. It is used in myriad ways, providing "…fuel for the transportation, industrial, and residential sectors" (Ramseur, 2012). Because of the great need for energy to fuel the American economy, oil in "vast quantities" enters the country and moves through the country by ships and by pipelines, Ramseur explains in the Congressional Research Service. Hence, it is inevitable that some spills will occur, and they certainly do occur, notwithstanding the attempts by the industry to conduct its business safely.

The U.S. Energy Information Administration (EIA) reports that the U.S. consumed 6.87 billion barrels (about 18.83 million barrels…… [Read More]

Works Cited

American Petroleum Institute. (2012). Energy Security. Retrieved February 15, 2013, from  http://www.api.org .

Barkham, Patrick. (2010).Oil spills: Legacy of the Torrey Canyon. The Guardian. Retrieved February 14, 2013, from http://www.guardian.co.uk.

Griffin, Catherine. (2013). European Satellite Confirms Arctic Ocean is on Thin Ice, Global

Warming Strikes Again. Science World Report. Retrieved February 15, 2013, from  http://www.scienceworldreport.com .
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Discovery of Oil in the

Words: 756 Length: 2 Pages Document Type: Essay Paper #: 27209546

Of course, this does not include such amenities as drilling exploratory wells, the cost of pipelines and floating facilities, such as oil platforms from which most of the drilling takes place. However, several important advantages linked to this discovery and to similar oil endeavors is that oil companies "will have to pay the U.S. less taxes, royalties, oil payments and other levies" as compared to drilling for oil within the national water boundaries of other oil-producing nations" (Gold, 2009, Internet), many of whom are members of OPEC.

In addition, there are plans for exploring a second Lower Tertiary site in the Gulf of Mexico known as the Chinook and Cascade Prospects which was discovered by a Brazil-based oil exploration company earlier in 2009. However, as compared to the BP discovery, this site will require a hugely expensive floating production platform which will be used for storage and as an off-loading…… [Read More]

REFERENCES

"BP Announces Giant Oil Discovery in the Gulf of Mexico." (2 September 2009). BP. Internet.

Accessed November 17, 2009 from http://www.bp.com/genericarticle.do?

categoryId=2012968&contentId=7055818.

Gismatullin, Edward. (2 September 2009). "BP Makes Giant Oil Discovery in Gulf of Mexico." Bloomberg.coom. Internet. Accessed November 17, 2009 from http://www.bloomberg.
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Tax Law Oil and Gas Is Currently

Words: 3220 Length: 10 Pages Document Type: Essay Paper #: 14203970

Tax Law

Oil and Gas is currently at the core of ussia's economy, even though there has been talk at the head of the ussian federation of intentions to attempt to move the economy from one which is based solely in these natural resources, to one which is based on rapidly evolving technology. Of course it will be at least a decade before movements and developments in this fashion are able to unfold with real significance. However, given the strong presence and foundation of the oil and gas sector in ussia's economy, it is natural that the bulk of the regulatory law is founded around these pillars.

Excise Tax

Excise taxes in ussia refer to taxes which need to be paid out on certain goods in ussia, such as raw and refined alcohol, alcoholic drinks which are stronger than 1.5% by volume, cars and motorcycles with engines that have horsepower…… [Read More]

References

Cfe-eutax.org. (2013). Excise duties in Russia. Retrieved from cfe-eutax.org:  http://www.cfe-eutax.org/taxation/excise-duties/russia 

Deloitte.com. (2012). Tax and Legal Guide. Retrieved from Deloitte.com: http://www.deloitte.com/assets/Dcom-Russia/Local%20Assets/Documents/Energy%20and%20Resources/dttl_Guide-to-the-Russian-Oil-Gas-Sector_03092012.pdf

EY.com. (2011). Doing Business in the Russian Federation. Retrieved from EY.com:  http://www.ey.com/Publication/vwLUAssets/Doing-business-in-the-Russian-Federation-2011/$FILE/Doing-business-in-the-Russian-Federation-2011.pdf 

GFC. (2010). Reducing Carbon Emissions Through Transport Taxation. Retrieved from greenfiscalcommission.org.uk:  http://www.greenfiscalcommission.org.uk/images/uploads/gfcBriefing6_PDF_ISBN_v7.pdf
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Marketing Canadian Oil Are Canadian

Words: 647 Length: 2 Pages Document Type: Essay Paper #: 3552721

Thus, the market structure could be called competitive, but of limited and monopolistic competition.

Despite the presence of government regulation, there are huge anomalies across the country, as the price of gas in Vancouver, for instance, is prohibitively high. The "oil companies claim price swings are market driven" but this cannot be fully the case, " considering that the prices move in unison with six big corporations separately involved in determining the price. Also, when one compares the price of crude oil in dollars per barrel with the United States, the trend upward is virtually the same, all other things being equal, "until the beginning of July" when the price of gas in some areas of Canada, such as Vancouver, grows much higher, and the prices in the United States and other areas of Canada do not experience the same percentage increase. "Had the trend continued from July to August…… [Read More]

Works Cited

Guy Cramer (25 August 2004) "Evidence of Price Fixing by Oil Companies?" Retrieved on 29 October 2004 at Gas Buddy http://www.yfiles.com/gasprices2.html
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Niger Delta Oil Disaster A

Words: 1000 Length: 3 Pages Document Type: Essay Paper #: 10586220

Anyanwu and Obire (2009) note that oil spills like those seen in the Niger Delta leave soil barren for years, devastating not only the resources that were present at the time of the spill, but eliminating any resources that could be reaped from the area in future years (Anyanwu and Obire 211). This notion was mirrored by a 2009 agricultural study conducted in the area of the Niger Delta, which found that the negative impact of the oil spills on agricultural production was found to, reduce crop yield, pollute the rivers for fishing, and reduce land productivity and farm income, along with the standard of living of the Nigerian people (Aviomoh, Okoh and Ojogwu 62).

The future state of the affected area continues to look bleak, especially from the outside world who is largely incapable of understanding Nigerian motivations to continue serving the oil industry in a manner that sacrifices…… [Read More]

References

Akpomuie, Orhioghene. "Tragedy of Commons: Analysis of Oil Spillage in the Niger Delta." Journal of Sustainable Development, 4.2. (2011): 200-211. Web.

Retrieved from: ProQuest Database.

Anyanwu, E.C. And Obire, O. "Impact of Various Concentrations of Crude Oil on Soil."

International Journal of Environmental Science and Technology, 6.2. (2011) 211-221. Web. Retrieved from: ProQuest Database.
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Pacific Oil-Strategic Plan Pacific Oil Startegic Plan

Words: 3280 Length: 11 Pages Document Type: Essay Paper #: 138344

Pacific Oil-Strategic Plan

Pacific Oil Startegic Plan

COMPANY BACKGOUND

Vision

Values

ENVIONMENTAL SCAN

IMPLEMENTATION PLAN-OGANIZATIONAL STATEGY

ISK Management PLAN

Monthly Monitoring

Accountability

esponding of isk management Process

Evolution of isk Management

Policies and Procedures

152011 Identified isks

isk Disclosure

Pacific Oil-Strategic Plan

This paper presents a strategic plan or Pacific Oil. The paper starts with organizational background consisting of business mission, vision and the corporate values. The nature of the business of Pacific Oil has been clearly identified with some highlights on the business divisions operating in the oil industry. An environmental scan has been performed in order to have a clear insight into the circumstances in which the Pacific Oil is operating. This environmental scan for Pacific Oil is accompanied by a SWOT (Strength, Weakness, Opportunities & Threats) Analysis. Strengths and weaknesses of Pacific Oil relate to internal organizational environment while opportunities and threats relate to external environment of…… [Read More]

REFERENCES

Canales, James E.; Kibble, Barbara D.; Terk, Natasha, 2008. "One Step Beyond Strategic Planning." Foundation News & Commentary, Vol.41 Issue.

Hay, Robert D., 2009. Strategic management in organizations, Westport: Greenwood Press.

llison, Michael & Kaye, Jude, 2010. "Why Plan?" Strategic Planning for Organizations, New York: John Wiley & Sons.

Polyack, Jolene, 2009. " Organizations Need Marketing Strategies To Meet Goals." Business Journal -- Serving Fresno & the Central San Joaquin Valley, Issue 322490.
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Future Norwegian Oil and Gas

Words: 4262 Length: 13 Pages Document Type: Essay Paper #: 32112919

It was from this lesson that legislators began to understand the need to put away large percentages of their oil profits and to not depend so much on spending that cash flow.

After the recession of the 1980s, Norway drastically re-examined its oil policy from both a fiscal and regulatory perspective. Up into the late 1980s, "foreign oil policy followed what was called a 'purely commercial line.' That is, it was not desirable to declare officially that political evaluation were included in its design," (Austvik 1989, p.1). This lead Norway to be established as a "free rider" within the global oil market. According to research, "As a 'free rider' in the market, Norway was then also in the best possible position; she could increase her production and at the same time reap the price benefits deriving from other counties' production reductions," (Austvik 1989, p.1). The recession of the 1980s lead…… [Read More]

References

Austvik, Ole Gunnar. 1989, "Norwegian oil and foreign policy." Norwegian Foreign Policy Studies. No. 68. Retrieved July 28, 2009 at  http://www.kaldor.no/energy/norwoil1989intro.htm .

Davis, Jerome D. 2006, the Changing World of Oil: An Analysis of Corporate change and Adoption. Ashgate Publishing.

Engebretsen, Marit. 2007, "The Norwegian energy sector and Europe." Norway: Official Site. Retrieved July 27, 2009 at http://www.eu-norway.org/policyareas/energy/.

Erikson, Tore. 2006, "The Norwegian petroleum sector and the Government Pension Fund -- global." Ministry of Finance. Retrieved July 27, 2009 at http://www.regjeringen.no/upload/FIN/Statens%20pensjonsfond/The_Norwegian_Petroleum_Sector_te.pdf.
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Environmental Law the Norwegian Oil and Gas

Words: 815 Length: 2 Pages Document Type: Essay Paper #: 5769039

Environmental Law

The Norwegian Oil and Gas Industry: elatively Successful

Norway became an oil producer when it drilled a hole into the continental shelf off its shores on June 15, 1971 (Law Library of Congress 2010, p. 1). Since then the Norwegian oil industry has become the country's largest sector, representing 26% of economic production in 2006. Norway was the ranked fifth in the world for oil exportation in 2009 and the largest in Europe. Although oil production has begun to decline in recent years, the reserves off its coast remain the largest in Europe (Business Monitor International 2013). Norway is the second leading gas exporter after ussia, primarily because domestic use is low given the heavy reliance on hydropower.

Concerns about a possible drilling disaster were voiced soon after the industry began developing the offshore oil fields. A 1976 report in The Guardian claimed that the oil industry would…… [Read More]

References

Business Monitor International 2013, Norway Oil & Gas Report Q1 2013, Includes 10-year Forecasts to 2021, digital image, viewed 26 November 2013, ProQuest Reports, document ID: 1282636555.

Environment.NO, 2012, 'Acute Pollution', webpage, viewed 26 November 2013, State of the Environment Norway, .

Goldsmith, M 1976, 'Norway worried by risks from oil pollution', The Guardian, 7 Apr. 1976, p. 4, digital image, viewed 26 November 2013, ProQuest Historical Newspapers, document ID: 185881493.

Law Library of Congress 2010, Norway oil spill liability and regulatory regime. Digital image, Law Library of Congress, viewed 26 November 2013, .
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Gulf Oil Spill Whether the

Words: 2557 Length: 7 Pages Document Type: Essay Paper #: 88015215

So far, this is not the case, and oil companies only pay royalties on production. This is another area under scrutiny in the MMS scandal. There are reports, dating back to 2008, that the royalty offices of the MMS, located in Denver, routinely accepted oil company numbers on the amount of oil they produced, rather than independently auditing the numbers. No one knows how much lost revenue to the government that practice resulted in, and there is no way of finding out now. Clearly, future policy formation on the industry needs to include more oversight, more regulations, and a much less cozy relationship between the regulators and the companies they are regulating.

Future policy formation on other energy sources

The Gulf spill has helped to change public opinion on oil and its production, and on how it is regulated. It seems much clearer after the spill that we are a…… [Read More]

References

Editor. (2010). Update on oiled wildlife and marine life recovered along Louisiana's coastline. Retrieved 16 July 2010 from the Louisiana.gov Web site:  http://emergency.louisiana.gov/Releases/07142010-wildlife.html .

Editors. (2010). Oil dispersants. Retrieved 16 July 2010 from the Prairie View A&M University Web site: http://www.extension.org/pages/Oil_Dispersants.

Falola, T., & Genova, A. (2005). The politics of the global oil industry: An introduction. Westport, CT: Praeger.

Green groups bolster lobby against offshore drilling; Democrats struggle to pacify uneasy voters. (2008, July 16). The Washington Times, p. A06.
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BP Deepwater Horizon Oil Spill-April

Words: 2513 Length: 8 Pages Document Type: Essay Paper #: 15279590

However, this calmness did not translate into crisis management success. Although BP seemed to not be significantly affected by the situation, Hayward stated that the company was overwhelmed by the media attention. The former CEO blames the press for the image that the public has formed on the company in response to its handling of the situation.

The control that the company was supposed to reveal did not match the intensity of the crisis. BP did not show that it fully controlled the situation. The fact that the company tried to share the blame with the rig owner and the drilling company reveals the fact that the company was not in control of the situation. The numerous attempts and strategies that the company developed and implemented in order to stop or reduce the oil spill also prove the lack of control from BP.

The lack of control showed by BP…… [Read More]

Reference list:

1. Fitzgerald, a. (2010). BP Had Prepared for Oil Spill 10 Times Golf Disaster, Permit Plans Say. Bloomberg. Retrieved March 4, 2011 from http://www.bloomberg.com/news/2010-05-31/bp-told-u-s-it-could-handle-oil-spill-10-times-larger-than-gulf-disaster.html.

2. Raines, B. (2010). BP Told Feds it Could Handle Oil Spill 60 Times Larger Than Deepwater Horizon. Retrieved March 5, 2011 from  http://blog.al.com/live/2010/05/bp_told_feds_it_could_handle_o.html .

3. BP Ex-Chief Admits Company Was Ill-Prepared to Handle Oil Spill (2010). Empowered News. Retrieved March 5, 2011 from  http://empowerednews.net/bp-ex-chief-admits-company-was-ill-prepared-to-handle-oil-spill/183629/ .

4. Moore, K. (2010). Integrated Marketing Communications. Retrieved March 5, 2011 from  http://www.selfgrowth.com/articles/Integrated_Marketing_Communications_-_5_Primary_Communication_Tools.html .
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Energy Industry Is Heavily Dependent

Words: 3063 Length: 10 Pages Document Type: Essay Paper #: 79983114



Nuclear energy possesses perhaps the largest potential for growth over the next few decades. The reason for this is the simple fact that it creates a relatively small amount of environmental pollution and can be adapted for use in nearly any part of the world. It certainly poses some security risks if it this technology is misused or mishandled, but the benefits certainly outweigh the costs. This type of energy production does not create smog, or direct environmental wastes, and many scientists, entrepreneurs, and engineers are looking at low cost, micro-nuclear solutions for small cities and towns (Kruger, 2006). Instead of building huge, multi-billion dollar power plants, the focus has shifted to creating small, sustainable, community nuclear power plants. The sustainability level of nuclear power is quite high given that a very small amount of nuclear waste is created for a huge amount of power output, unlike coal-fired power plants…… [Read More]

References

Hekkert, Marko P.; Hendriks, Franka H.J.F.; Faaij Andre P.C. And Maarten L. Neelis.. (2005).

"Natural Gas as an Alternative to Crude Oil in Automotive Fuel Chains Well-to-Wheel Analysis and Transition Strategy Development," Energy Policy: Vol. 33: Iss. 5, pp. 579-594.

Hoffmann, Peter. (2002). Tomorrow's Energy: Hydrogen, Fuel Cells, and the Prospects for a Cleaner Planet. MIT Press: Cambridge.

Kruger, Paul. (2006). Alternative Energy Resources: The Quest for Sustainable Energy.
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Exxon Valdex Exxon Valdez Oil

Words: 1703 Length: 6 Pages Document Type: Essay Paper #: 75801478

It remains uncertain, therefore, that the Exxon Valdez spill was not, in fact, larger in scale and scope than the Horizon disaster.

Conclusion:

The Horizon disaster, as it bears noting, helps to demonstrate how little has truly changed in two decades. Even as environmental concerns grow ever-more pressing, oil companies continue to act with relative impunity. The sheer profitability of the industry keeps it insulated from many of the safety and environmental terms that impact so many other industries. As the most precious finite commodity in the global economy, crude oil controls its own international orbit such that domestic environmental laws and safety regulatory standards may be easily bypassed. Indeed, as the Exxon Valdez events and the Horizon Deepwater events thereafter demonstrate unequivocally, only the occasionally catastrophic disaster serves to illuminate the constancy of irregular, illicit and illegal practices on the part of the oil industry as a whole.

orks…… [Read More]

Works Cited:

Bluemink, E. (2010). Size of Exxon spill Remains Disputed. Anchorage Daily News.

Cleveland, C. (2010). Exxon Valdez Oil Spill. The Encyclopedia of Earth.

Environmental Protection Agency (EPA). (2011). Exxon Valdez. EPA.gov.

ExxonMobil. (2010). The Valdez Oil Spill. Exxonmobil.com.
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Exxon Valdez Oil Spill Public

Words: 1700 Length: 6 Pages Document Type: Essay Paper #: 91843959

Rawl confessed that it was "bad judgement involved in even putting a person with a critical skill back in that kind of work...It is pretty clear we have to tighten those things up" (Loeb pp).

hen asked what advice he had for other CEOs, Rawl stated that they had better prethink which way they are going to jump from a public affairs standpoint before they have any kind of a problem, and cautioned that they should always have a public affairs plan, no matter how hard it is to think in terms of disasters (Loeb pp).

orks Cited

Davis, Nancy Y. The Exxon Valdez oil spill, Alaska. Retrieved October 30, 2005 from http://www.unu.edu/unupress/unupbooks/uu21le/uu21le0l.htm

Details About the Accident. Retrieved October 30, 2005 at http://www.evostc.state.ak.us/facts/details.html

Loeb, Marshall. (1989 May 08). In ten years you'll see 'nothing.' (interview with Exxon CEO Lawrence Rawl about the Valdez oil spill). Fortune. Retrieved October 30, 2005…… [Read More]

Works Cited

Davis, Nancy Y. The Exxon Valdez oil spill, Alaska. Retrieved October 30, 2005 from http://www.unu.edu/unupress/unupbooks/uu21le/uu21le0l.htm

Details About the Accident. Retrieved October 30, 2005 at http://www.evostc.state.ak.us/facts/details.html

Loeb, Marshall. (1989 May 08). In ten years you'll see 'nothing.' (interview with Exxon CEO Lawrence Rawl about the Valdez oil spill). Fortune. Retrieved October 30, 2005 from HighBeam Research Library Web site.

Roth, Alan T. (2003 April 08). Managing Risk Issues vs. Managing Risk:
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Minority Women in the Oil and Gas Industry

Words: 852 Length: 2 Pages Document Type: Essay Paper #: 45739061

Personal Introduction and Research Interests

My background is certainly not unique or even rare, at least for many South Africans. When I was born, apartheid was still the law of the land in South Africa and I was classified as "colored" (i.e., neither white nor black) and commonly referred to as "hotnots" (i.e., bastards). As a result, our family was forced to first live in a tiny apartment on the outskirts of Cape Town called Woodstock, or more commonly the "mixed slums." When Woodstock became overcrowded, our family was forcibly relocated to the desert-like Cape Flats, 25 miles further from Cape Town. Because these actions were sanctioned by the government and were therefore "legal," I simply accepted what was happening as a part of the natural course of things. Over time, however, these and other racially motivated incidents during this formative period in my life convinced me that the status…… [Read More]

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What Will Happen When Peak Oil Is Reached

Words: 1399 Length: 5 Pages Document Type: Essay Paper #: 19526423

program of study continues personal research and professional practice in the field of energy in general and alternative energy resources in particular. This study will serve to provide benchmarks concerning current energy usage patterns across the country to identify opportunity to introduce alternative energy resources such as hydrogen, geothermal, wind turbine farms, increased hydroelectric applications, biomass facilities, as well as solar and tidal energy resources.

Although predictions of peak oil vary, all signs currently indicate that the United States will be running out of cheap sources of fossil fuels in the foreseeable future and alternative energy resources must be brought online before that point is reached in order to satisfy the growing demand and avoid disruption of the nation's economy.

Purpose of the Study

The overarching purposes of the proposed study are to:

A.

Provide evidence in support of the deployment of alternative energy resources in urban and rural settings;…… [Read More]

Works Cited

Deffeyes, Kenneth S. Hubbert's Peak: The Impending World Oil Shortage. Princeton, NJ:

Princeton University Press, 2001.

Karimov, F.P., M. Brengman and L. Van Hove. (2011). "The effect of Website design dimensions on initial trust: a synthesis of the empirical literature." Journal of Electronic

Commerce Research, 12(4): 272-273.
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Oil and Gas Trends in 2018

Words: 589 Length: 2 Pages Document Type: Essay Paper #: 94113057

The problem which the oil and gas industry is currently experiencing is similar to the issues confronting most industries today—volatility. The year 2018 has been one of the most economically volatile years on record. At present, oil prices are rising, although they are considerably lower than their record highs of 2011. Oil and gas companies must find ways to continue to exploit current price trends while hedging their risks.

SWOT

Strengths

The great strength of the industry is that much of the world remains dependent upon oil. Recent oil prices are expected to remain in place in the short term but over the next ten years they are predicted to rise (Biscardini, et al., 2017). The world continues to industrialize at a rapid pace, likewise driving the level of demand.

Weaknesses

However, most oil companies remain historically very expensive to operate, both in terms of supply chain delivery as well…… [Read More]

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Oil Crises Term in West Africa

Words: 3601 Length: 12 Pages Document Type: Essay Paper #: 51369657

Introduction

In the contemporary, the world is experiencing an oil crisis. For almost three years now, the oil price has declined by more than 40 percent since 2014. At that point in time, the price of a barrel stood at $115, considerably deteriorating as it presently stands at $50. The oil price is comparatively determined by actual supply and demand and relatively by expectation. In particular, demand for oil is closely associated to economic activity whereas supply can be influenced by different aspects such as geo-political issues and also regional weather. Notably, if oil producers have the perception that price is remaining high, they make an investment, subsequent to which a lag increases supply. In the same manner, low prices give rise to a scarcity in investment. Moreover, the decisions by the Organization of the Petroleum Exporting Countries (OPEC) fashion expectations. This is in the sense that if the organization…… [Read More]

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Industry- the Case of Microsoft

Words: 1129 Length: 4 Pages Document Type: Essay Paper #: 14146653

The regulations are necessary to the extent they reduce externality likely to about from the merger. There is also concern that the government may incur a higher cost in paying for unemployment benefits which necessitates it regulations in mergers.

Provision of market activity

Other than the above two likely reasons for government involvement, the government may have non-economic reasons. Such activities include the national security which is a public good which is related to welfare. The government intervene in market activities so that they can provide welfare commodities and products that otherwise cannot be provided for under the market mechanism. The provision of public goods such as defense and security is only possible through government interventions. Government regulations and interventions ensure that society does not miss production of welfare commodities that the market cannot produce.

Cultural Identity Promotion

This includes aspects such as sustaining productive capacity, producing for the future…… [Read More]

References

Deardorff, Alan V., & Jackson, J.H. (1993). "Problems of Regulating Economic Activity in a World of Increasing Interdependence, . New York: Cambridge University Press.

Ginsburg, Martin D., & Levin, J.S. (1989). Mergers, Acquisitions and Leveraged Buyouts. Commerce Clearing House.

Marks, & Lee., M. (2003). Charging Back up the Hill: Workplace Recovery after Mergers, Acquisitions, and Down-sizings. San Francisco: Jossey-Bass.
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Oil Prices

Words: 775 Length: 2 Pages Document Type: Essay Paper #: 83621999

Oil replays 1980s bust discusses the collapse in oil prices in the mid-80s versus the collapse in oil prices in the second half of 2014. He notes that while the pace of decline was similar, than the reasons behind the decline are different. The author notes that time is an important variable. Prior to hydraulic fracking, oil projects were massive in scope and scale, and took many years and billions to bring to fruition. As a consequence of this, the supply of oil on world markets was fairly easy to predict. New oil would not suddenly materialize from just anywhere. Today, the time lapse between when oil is discovered and when it hits the market is much shorter, and the cost is lower. The wells in the shale fields are smaller, so the entire exploration and extraction cycle (i.e. The cash conversion cycle) is shortened considerably. This also encourages new…… [Read More]

References

Gold, R. (2015). Back to the future? Oil replays 1980s bust. Wall Street Journal. In possession of the author.

Pritchard, A. (2015). It looks like North America will win the global oil war -- but it will be a long and bloody battle. Financial Post/The Telegraph Retrieved April 26, 2015 from
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Industry-Specific Accounting and Finance

Words: 639 Length: 2 Pages Document Type: Essay Paper #: 43011395

nature of a firm's business and its environment are big factors in determining what the firm's financial statements look like."

Industries vary wildly in terms of how they account for profits, losses, depreciation of assets, and other critical components that affect the appearance of their financial statements. Some industries are more apt to operate on credit on a regular basis than others; some industries make the bulk of their profits on a seasonal basis (such as retailers which make most of their money at Christmas) or have profits which vary markedly from year to year. For example, a pharmaceutical company may experience a notable drop in revenue when one of its most popular drugs loses its patent; it may gain sharp windfall that lasts for a fixed period of time while it can exclusively profit from a new drug. Some industries are extremely risky to invest in because of innate…… [Read More]

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oil and gas algorithms

Words: 644 Length: 2 Pages Document Type: Essay Paper #: 84760228

Exxon Mobile and Game Theory Analysis

ExxonMobil is the world's largest publicly traded international oil and gas company that operates in an industry that is dominated by several large firms (Exxonmobil, N.d.). On the international level, there are barriers to entry that make it difficult for new entrants to emerge, the product is considered a commodity, and as a result many have argued that this industry most likely follows the oligopoly market structure. The oil and gas industry as a whole is made up of three main types of activities in either upstream, midstream, or downstream industry segments which include such functions as exploration, extraction, transporting unprocessed raw materials, processing the materials in refineries, and further downstream conversions which will eventually lead to the finish products.

The oil and gas industries is arguably the most important industries in the world given the fact that it fuels much of the energy…… [Read More]

Works Cited

Castillo, L., & Dorao, C. (2013). Decision-making in the oil and gas projects based on game theory: Conceptual. Energy Conversion and Management, 48-55.

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

Roy, A. (2003). Game Theory in Strategic Analysis. Journal of Management Research, 127-138.
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Development of Oil and Gas

Words: 2370 Length: 7 Pages Document Type: Essay Paper #: 91618234

il and Gas

Development of Two Important Materials in Earth's Early History

According to scientists, Earth began its life 4.6 billion years ago, when cosmic dust collided to form increasingly large particles. These particles, after millions of years of colliding and increasing in mass, eventually formed the Earth, with a mass similar to what it is today (5.9736 x 1024 kg or 5,973,600,000,000,000,000,000,000 kg) . Soon, the Earth's atmosphere began to form, as well as various minerals within its core. Studying the Earth is a fascinating endeavor, yet one that comprises extensive research and writing. For the purposes of this paper, I will examine two elements that are of vital importance to human life today: oil and gas. In this study, I will thus speak both about the development of the two materials in the Earth's early history-how they developed, what factors contributed to this development, and when this development…… [Read More]

Oil and gas industries also comprise upstream and downstream exploration. The upstream process includes exploration and production and the downstream refers to refining crude oil and gas, distribution of the two and marketing. Some companies may be "fully integrated," meaning they have capabilities for both upstream and downstream interests; others only concentrate on exploration and production and are known as E&P companies. Furthermore, many companies operate nationally and internationally, while others are "independent." This short description of the oil and gas development process is very important because it can show how two natural fuels found in the Earth are utilized to improve our daily lives, for others' financial gain, of course. [16: "Overview of the oil and gas exploration and production process." Environmental Management in Oil and Gas Exploration and Production. Web. 19 Apr. 2011. < http://www.etechinternational.org/new_pdfs/lessImpact/AttAoverview.pdf >. ]

Conclusion

This paper has focused upon the development of the two fuels in the Earth's early history and has discussed oil and gas development, complete with how this development process took place, what factors contributed to it and how long it took. Furthermore, the paper has also analyzed the impact of oil and gas towards humanity and the complex process through which these resources are handled today, thus placing this paper's aim in a larger context and showing the importance of this study.
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Change in Oil Prices across the Globe

Words: 1636 Length: 5 Pages Document Type: Essay Paper #: 69568949

Oil prices across the globe are characterized by major swings and fluctuations, which have attracted considerable attention from scholars, policymakers, and practitioners. The increased attention in oil prices are attributable to the fact that they have significant impacts on the global economy. Based on academic literature, oil prices fluctuate for various reasons including supply disruptions, changes in global demand, and precautionary intentions. For instance, in the aftermath of the 2008 global economic recession, oil prices fell because of an overall decline in global demand (Lee & Huh, 2017). Fluctuations in oil prices have been evident since 2012 to the end of 2016 because of various factors that contribute to changes in these prices. Despite these various factors, there are several measures that are utilized to predict oil prices in the future. This paper discusses the reasons for changing oil prices, oil price fluctuations between 2012 and 2016, and prediction of…… [Read More]

References

Amadeo, K 2017, Oil Prices Forecast 2017-2040, The Balance, viewed 6 April 2017,

Arab News 2017, Oil Prices to Average $50 and $70 through 2022: Report, Arab News, viewed 6 April 2017,

Asia Pacific Energy Research Centre 2016, The Effect of the Crude Oil Price Drop on the Global Energy Market, Asia Pacific Energy Research Centre, viewed 6 April 2017,

Baumeister, C & Kilian, L 2015, Forty Years of Oil Price Fluctuations: Why the Price of Oil May Still Surprise Us, University of Michigan, viewed 6 April 2017,
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Cross-Boundary Offshore Oil & Gas Resources Joint

Words: 4203 Length: 9 Pages Document Type: Essay Paper #: 81418808

Cross-oundary Offshore Oil & Gas Resources

Joint Development Agreements & Frameworks

1/6/2014

[Type the company name]

User

Table of Contents

1. Introduction 3

2. The rule of capture 3

3. The CooperationApproach 4

4. Legal framework to develop trans-boundary offshore O&G resources 5

4.1 Cross-border unitization agreements 6

4.2 Joint Development Agreements (JDA) 6

4.3 National law and its application in Co-operative Agreements 7

4.4 ilateral treaties for trans-boundary oil and gas exploration 7

4.5 The Framework Agreement Approach 9

4.6 The Third Party approach to dispute resolution 10

5. Conclusion 10

ibliography 11

Treaties & Conventions 11

ooks 11

Articles 12

Websites 13

1. Introduction

Subsea resources such as petroleum and natural gas are important sources of meeting the energy demand of countries. Cross-territory disputes are arising among different countries. Advancement in technology in exploration and extraction of subsea resources has expedited the overall procedure of competitive drilling. This…… [Read More]

Bibliography

Treaties & Conventions

Cross boundary petroleum cooperation between the UK and the Kingdom of Norway 2005

Treaty, Timor Sea. "Agreement between the Government of Australia and the Government of the Democratic Republic of Timor-Leste relating to the Unitization of the Sunrise and Troubadour fields Department of Foreign Affairs and Trade, Canberra (Dili, 6 March 2003)(1)." Accessed from

U.S-Mexico Trans-boundary hydrocarbons agreement 2012
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Drilling for Oil in the

Words: 1160 Length: 4 Pages Document Type: Essay Paper #: 61859089

A petroleum geologist against drilling in the area writes, "For all practical purposes, the refuge is utterly pristine. It also encompasses an area 26 times larger than Yosemite National Park, almost nine times the size of Yellowstone" (Herndon). While few visitors seek out the Refuge, there are several small native villages in and around the area, and these Native Americans rely on the bounty of the Refuge for their continued survival. These Gwich'in people oppose drilling in the ANWR for a number of important reasons. They feel it will permanently damage the tender tundra, which is easily damaged and non-renewable once it has been damaged, and it could affect the Porcupine Elk herd, which migrates through the area, as well. Drilling could disrupt their traditional birthing and nursery grounds, which could cause them to migrate along a different route. Since the Gwich'in people rely on the caribou for sustenance, this…… [Read More]

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Occ Safety Oil Offshore and Gas Installations

Words: 1930 Length: 6 Pages Document Type: Essay Paper #: 58664706

Occ Safety

Oil Offshore and Gas Installations: Safety Culture

The offshore oil and gas installation industry is one of the most notoriously hazardous due to its extreme and remote conditions. Both acute and chronic health and safety issues plague offshore oil and gas industry workers. However, offshore oil and gas installation sites are not more hazardous than other natural resources-related occupational sectors; moreover, the occupational safety in the offshore oil and gas industries are on par with other industries (U.S. Department of Labor, Bureau of Labor Statistics, 2011). The same is true for offshore oil and gas installation sites in other countries like the United Kingdom, where it was found that "the sector demonstrates a relatively low lost time injury rate and has, for many years, outperformed a number of comparatively lower hazard industrial sectors (Oil & Gas UK, 2012).

The hazards of working in offshore oil and gas installations…… [Read More]

References

American Petroleum Institute (2013). The oil and natural gas industry's ongoing commitment to safety. Retrieved online:  http://www.api.org /policy-and-issues/policy-items/safety/~/media/6A15AB96288D44569B23217E84D79E13.ashx

"American Petroleum Institute Guide to Reporting Process Safety Events," (n.d.). Version 2.0. Retrieved online:
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International Environmental Laws on Oil Gas Production Effects

Words: 2138 Length: 8 Pages Document Type: Essay Paper #: 30626844

International Environmental Laws on Oil/Gas Production

Effects of Oil and Gas Production to the Environment in Norway

Over the years, oil and gas production companies have been a serious global concern. This is due to impacts on the environment associated with its production. International principles setup aims at governing the extraction and usage of such sources of energy. Norway is located in Europe, located near North Sea. Its high level of energy production has highly boosted the Gross National product (GNP) of Europe. Oil, gas and hydroelectric power having contributed significantly to the rapid development of industries in Europe and contribute around 50% to the economy. Discovery of oil and gas was in early 1960's, and currently, Norway is the seventh largest producer of oil and gas internationally. There have been contravenes between energy producing industries and the environmental activists. Several principles set to govern energy production have been set,…… [Read More]

References

Development of E.C.O.A., 2001. Environmental Performance Reviews: Norway. Holand: OECD publishers.

Edwards, J., 1998. Europe. Scandinavia: Nelson Thornes Publishers.

Fitzmaurie, M., 2010. Research Handbook on Iinternational Environmental Law. 3rd ed. New York: Edward Elgar Publishing.

Gardinerr, S., Caney, S. & Jamieson, D., 2003. Climate Ethics: Essential Readings. 1 ed. Chicago: Springer.
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2012 Oil Price Forecast Global Demand Has

Words: 471 Length: 2 Pages Document Type: Essay Paper #: 98587252

2012 Oil Price Forecast

Global demand has created a shift in the economic demand and supply curve for oil prices. Since the new millennia, the demand for oil has increased exponentially as the developing world industrializes and hence requires more oil-based products and fuel necessary to facilitate growth in these markets. Although measures to mitigate the expense of future oil prices and to lessen the expected demand for the product, prices continue to push higher as oil now commands a premium price for heating uses as well. Spikes in oil prices have become more common as taxes and other factors now contribute to the price of oil that is outside the influence of supply and demand cycles.

A return to $90 dollar oil prices is a level that hasn't been seen worldwide since the fourth quarter of 2008. "The $90 level was last seen in early October 2008 when crude…… [Read More]

References

Mufson, S. 2010, "CRUDE OIL PRICES PUSH TOWARD $90 A BARREL."  http://www.washingtonpost.com/wp-dyn/content/article/2010/12/10/AR2010121006635.html 

Strumpf, D. 2010, "OIL FUTURES: Crude Falls On China Monetary Tightening." http://online.wsj.com/article/BT-CO-20101210-711879.html
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Automative Industry and Computers Management Information How

Words: 1948 Length: 7 Pages Document Type: Essay Paper #: 83262302

Automative Industry and Computers

Management Information

How computers (over the years) have affected and changed automotive industry and auto sales.

How computers (over the years) have affected and changed automotive industry and auto sales.

History of Automotive Industry

Time Line of Developing Technologies

Emergence of Flexible Manufacturing Systems (FMS)

Kaizen

The ole of Computers in Sale and Marketing

How computers (over the years) have affected and changed automotive industry and auto sales.

Current essay is a discussion of the role and impact of computer on manufacturing and sales of autos. To better understand how and why the automotive industry is where it is today, a brief historical background of the automotive industry is offered. The development of the automobile can be tracked back to 1769 when Nicolas Joseph Cugnot of France built the first vehicle, (Olsen 2002). Cugnot is recognized by the British Automobile Club and the Automobile Club de…… [Read More]

References

Banham, R.(2002). The Ford century, Ford motor company and the innovations that shaped the world. New York: Artisan.

Erjavec, J. (2005) automotive technology, a systems approach (4th Ed.). New York, NY: Thomas Delmar Learning.

Kalpakjian, S. (1995). Manufacturing engineering and technology. Reading, MA:

Addison-Wesley Publishing Company Inc.
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Equity Analysis the Industry That

Words: 922 Length: 3 Pages Document Type: Essay Paper #: 51395600

The firm's balance sheet, however, is very healthy, with great liquidity and no long-term debt.

The fourth largest company in the industry by market cap is Builders FirstSource. This company has a stock price of $5.31. It has no P/E, since it is losing money. The company is focused on products for residential construction in the southern and eastern states, so the housing recovery needs to be in those regions for this company to benefit. The consistent losing of money, however, makes this company a risky investment, as does the high level of long-term debt. The beta is 2.3, which is highly volatile.

The fifth-largest company by market cap is Orchard Supply Hardware Stores, which is a California-based competitor to Home Depot and Lowe's. Its stock is priced at $10.11. The company lost $8.08 per share last year and is on a downward trend in revenue, gross income, operating income…… [Read More]

Works Cited:

No author. (2012). How to value stocks. Motley Fool. Retrieved November 11, 2012 from  http://www.fool.com/investing/beginning/how-to-value-stocks.aspx 

No author. (2012). Stock-picking strategies: Introduction. Investopedia. Retrieved November 11, 2012 from  http://www.investopedia.com/university/stockpicking/#axzz2Btw9KNL9 

Skariachan, D. (2012). Permanent fix of U.S. housing to take time: Home Depot CEO. Reuters. Retrieved November 11, 2012 from http://www.reuters.com/article/2012/10/11/us-homedepot-ceo-plans-idUSBRE89A1M420121011

Yahoo! Finance. (2012). Home improvement stores. Retrieved November 11, 2012 from http://biz.yahoo.com/ic/736.html
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Environmental Law the Offshore Oil and Gas

Words: 3773 Length: 11 Pages Document Type: Essay Paper #: 54004240

Environmental Law

The offshore oil and gas industry is complex in its rules and regulations

There are many different regulatory bodies that have some control over the industry, and they do not always work together as well as they should. This can become a serious issue for companies that are interested in oil and gas production, because they can have trouble keeping all the regulations straight. With UNCLOS, MAPOL, OSPA, and the EU all offering regulations and requirements, it becomes very difficult for companies who work with oil and gas to be clear on the requirements

Unfortunately, that can lead them to make mistakes, to misunderstand rules, and to ignore or avoid other regulations because they seem too complicated or they are not sure if they are even applicable. That can get a company into serious trouble, so it is very important that these companies focus in on how to…… [Read More]

References

Books

Barnard, Catherine (2007). The Substantive Law of the EU: The four freedoms (2 ed.). Oxford University Press.

Benson, D. And Adelle, C. (2012) European Union environmental policy after the Lisbon Treaty, In: Jordan, A.J. And Adelle, C. (eds) Environmental Policy in the European Union: Contexts, Actors and Policy Dynamics (3e). Earthscan: London and Sterling, VA.

Bindi, Federiga, ed. The Foreign Policy of the European Union: Assessing Europe's Role in the World (Brookings Institution Press; 2010). The E.U.'s foreign-policy mechanisms and foreign relations, including with its neighbours.
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Shore Oil Drilling Offshore Oil

Words: 2686 Length: 8 Pages Document Type: Essay Paper #: 28965650

The simple fact is this that the initiation of offshore oil drilling can be used effectively as a threat to lower the overall importing prices of oil from the Middle East States. The actual drilling, if looking at its impact internally, might or might not result in the actual decrease in gas prices or increase of alternative fuel and energy production. But in the recent times, the real reason for such a high debate on the offshore drilling aspect has been to use it merely as a strategy and a negotiation tool.

This approach and application of this strategy is something that neither I, nor people like who think that offshore drilling has more negative effects then positive, have a problem with. I do have a problem however with how offshore drilling is portrayed as the savior for the American dependency on foreign oil. Its like love is cast off…… [Read More]

References

Daniels, B. Offshore Drilling: Pros and Cons. 2008.Taken from: http://www.411mania.com/politics/columns/81832

Gertz, E. Can Offshore Drilling Really Make the U.S. Oil Independent? Even if U.S. energy policy goes "drill baby drill," there will be no escape from the vicissitudes of the global oil market. Scientific American. 2008.

Gross, D. Drilling for Answers: Will we find the oil we need offshore? Newsweek, 18-06-2008.

Parsley, J. Wellington chamber weighs pros, cons of offshore drilling. South Florida Sun-Sentinel. 2008.
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Marathon Oil Course Number & Name Relationship

Words: 1312 Length: 4 Pages Document Type: Essay Paper #: 21623999

Marathon Oil

Course Number & Name:

elationship between retail price of gasoline and price of crude oil

In USA gasoline accounts for 50% consumption of petroleum products therefore it is closely monitored by public and research pundits. It is found that, there is asymmetric relationship (asymmetric defined: where one has much more power than the other or putting it differently, when two halves are not equal or same) between retail gasoline prices and crude oil prices -- particularly gasoline prices are more responsive to rising crude oil prices than falling crude oil prices. This is attributable to Market power, search cost, consumer response to changing prices, inventory management, accounting practice and refinery adjustment costs.

Basically, it's a competition that drives gasoline prices sharply upwards because of unspoken agreements between dominant players. When crude oil prices increases, gas stations increase the gasoline price and pass on to consumers immediately. In case…… [Read More]

References

OSHA guidelines for Oil drilling. Accessed online from http://www.osha.gov/SLTC/oilgaswelldrilling/index.html#guidelines

Boone, L. And Kurtz, D. (2006). Contempory Business, 13th Edition.

Crude Oil Pipelines. Pipeline101. Retrieved August 6, 2011 from http://www.pipeline101.com/overview/crude-pl.html

Oil Pipelines: Small Price, Big Value. (2005). American Petroleum Institute, 3(4), retrieved August 6, 2011 from http://www.enewsbuilder.net/aopl/e_article000391720.cfm
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why my future in the energy industry is bright

Words: 1259 Length: 5 Pages Document Type: Essay Paper #: 73456073

Energy: A Bright Future Through Diversification

The energy industry has been a lucrative and growing one for generations, and will continue to be so in the future. Multiple sectors depend on the robustness of the energy industry for their long-term success, ensuring the relevance of and reliance on the energy business for the foreseeable future. From space exploration and military technology to utilities and essential services, quality energy sourcing, processing, generation, and distribution are all crucial to life on earth. Furthermore, the world's population is growing at an alarming rate, necessitating new products, services, and innovations to fit growing energy needs. The industry's ability to adapt to change, mitigate risks, and manage market forces makes it certain that my future in the energy field is a bright one.

Granted, a "massive transformation" is predicted for the future of the energy industry due to the boom in solar projects around the…… [Read More]

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Economics of Oil Today 90

Words: 2469 Length: 6 Pages Document Type: Essay Paper #: 10919715

(Drawing the Line on Energy) the newly emerging economies are also trying to find more and more oil for their economies to advance rapidly.

There is a lot of difference among the countries in terms of the amount they produce and in terms of the quantities they export. In terms of production the order is Saudi Arabia, United States, ussia, Iran, Mexico, China, Norway, Canada, United Arab Emirates, Venezuela, United Kingdom, Kuwait and Nigeria. In terms of exports, the order is Saudi Arabia, ussia, Norway, Iran, United Arab Emirates, Venezuela, Kuwait, Nigeria, Mexico, Algeria and Libya. It is clear that USA does not export as it consumes all the quantities that it produces. The need is for USA is to ensure that it gets all the oil it needs and that was probably the reason to attack Iraq. One of the persons contributing to that view was the Vice President…… [Read More]

References

Petroleum. Retrieved at http://en.wikipedia.org/wiki/Petroleum#Future_of_oilAccessed on 6 May, 2005

Brooke, James. Drawing the Line on Energy. New York Times. 29 March 2005. Retrieved at http://www.mtholyoke.edu/acad/intrel/Petroleum/naha.htm. Accessed on 6 May, 2005

Romero, Simon. Spanish Seek Oil Off Cuba, as Americans Watch Silently. New York Times. 6 July 2004. Retrieved at http://www.mtholyoke.edu/acad/intrel/Petroleum/romero.htm. Accessed on 6 May, 2005

Sachs, Jeffrey. America's disastrous energy plan. Financial Times. 22 December 2003. Retrieved at http://www.mtholyoke.edu/acad/intrel/energy/costs.htm. Accessed on 6 May, 2005
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U S Airline Industry Assess the

Words: 1677 Length: 5 Pages Document Type: Essay Paper #: 89234738

Similarly, this could influence the international airline community. Then, a stable economy is highly dependent upon a stable oil price, which once again is not the case. "The environment will continue to become more competitive as the LCC's continue to become more convenient. Business fares will continue to drop. Leisure fares won't raise much until capacity is generally in line with demand, which won't occur until much of the capacity overhand has been employed either by surviving legacy carriers or LCC."

To the customer, the continuing of this trend will generate no benefits. "In other words, we're stuck with the current system, because it isn't really in any airline's interest to try to change it. As long as no airline makes a dedicated effort to distinguish itself from the pack, all the airlines can stay lean, even at the expense of quality."

eferences

Surowiecki, J., the Unfriendly Skies, the New…… [Read More]

References

Surowiecki, J., the Unfriendly Skies, the New Yorker, 2007

Jankins, D., Overview of the Domestic Airline Industry, the George Washington University Aviation Institute, www.speea.org/news/files/layoffs/pcfinancials.pptRetrieved on February 13, 2008

Airlines face fiscal problems due to war, the Daily Michigan, September 1, 2003

Quick MBA, Porter's Five Forces - a Model for Industry Analysis, 1999-2007,  http://www.quickmba.com/strategy/porter.shtml . Retrieved on February 13, 2008
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U S Dependence on Foreign Oil

Words: 1013 Length: 3 Pages Document Type: Essay Paper #: 43789382



In addition to energy crisis, an effect of U.S. dependence of foreign oil that many believe has already been exploited is the political affect. According to Feldstein, "the political leaders in the Middle East know that our dependence on their oil gives them leverage over our policies." Some believe that many of the United States' interventions in the Middle East have been in the name of oil. Many of these also believe that oil has been the cause of American deaths, domestic, and foreign policy concerning both oil and the Middle East. Further dependence on foreign oil, which is projected, can only further increase the effects of said dependence on United States politics, both foreign and domestic.

Finally, a third effect of the United States' dependence on foreign oil is economic volatility. Although gas prices have begun to go down, high prices during the summer of 2008, and in other…… [Read More]

Works Cited

Feldstein, Martin. "Oil Dependence and National Security: A Market-based System for Reducing U.S. Vulnerability." National Bureau of Economic Research. October 2001. 02 December 2008.  http://www.nber.org/feldstein/oil.html 

Reducing U.S. Oil Dependence." National Resources Defense Counsel. 3 October 2001.

02 December 2008. http://www.nrdc.org/air/energy/fensec.asp
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Peak Oil When M King

Words: 712 Length: 2 Pages Document Type: Essay Paper #: 86644213



Heinberg notes that peak oil is not just a simple supply-demand problem. Because peak oil signals an irreversible, steady decline of oil supply, prices of oil will never stabilize. The global economy has been based on a spurious foundation: faith in fossil fuels. Economic growth under the current market system depends on cheap oil. If oil is no longer cheap, we are facing a worldwide economic, social, and political disaster.

3. The most shocking aspect of the readings on peak oil was the litany of products that are made with petrochemicals and their impact on health and the environment, listed on "Oil, Chemicals, and Plastics." Products we take for granted, like the ballpoint pen, depend on petroleum.

Similarly, the use of petrochemicals in agricultural pesticides is shocking. To know that for so long people have put up with such harmful pollutants in their food and water supply is astonishing. Short-sightedness…… [Read More]

References

Cooper, Arnie. "Peak Experience: The Age of Oil is Coming to an End." The Sun. July 2006.

Oil, Chemicals, and Plastics." The Oil Depletion Protocol. http://www.oildepletionprotocol.org/getinformed/oilchemicalsandplastics

Oil Depletion." The Oil Depletion Protocol. http://www.oildepletionprotocol.org/getinformed/oildepletion
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Abandoned Oil and Gas Wells

Words: 2890 Length: 11 Pages Document Type: Essay Paper #: 56778534

"Individual odor thresholds range from 1 to 13 parts per million. Between 50 and 100 parts per million, it causes mild inflammation on the membrane joining eyeball and eyelid after an hour, loss of smell in two to 15 minutes and can burn the throat" (Lucas, ¶ 4-5). A person can tolerate a maximum concentration of 170 to 330 parts per million for approximately one hour without serious consequences. At 500 parts per million, however, the person loses reasoning and balance and possibly experiences respiratory disturbance. When a person is exposed to 700 to 1,000 parts per million for up to an hour, death may occur within minutes. Emissions In the journal publication, "A Guide to geothermal energy and the environment," Alyssa Kagel, Diana Bates, and Karl Gawell (2007), all of the Geothermal Energy Association, explain that the visible plumes rising from some thermal power plants consists of water vapor…… [Read More]

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Gas & Oil Shortage Oil

Words: 1616 Length: 5 Pages Document Type: Essay Paper #: 96566889

All these factors have added too many variables to the Middle East, an important region for crude oil production" (Xuequan, 2008).

4. Conclusions

The improved standards of living have contributed significantly to an increase in the population's demands. And to satisfy these demands, with the ultimate scope of registering higher profits, the American corporations have abused the natural resources and are now moving towards the resources in other countries. Two such vital resources are crude oil and natural gas. The situation of gas is quite stable, but that of oil is critical. Based on limited natural resources, a weakening American dollar, speculative operations on the international market, but also the regulations implemented by OPEC and the conflicts in the Middle East, the price of oil has sky rocked - and it is likely to continue its ascendant trajectory.

eferences

Leonard, a., 2008, the Story of Stuff, http://storyofstuff.ethicalbrand.org/last accessed on May…… [Read More]

References

Leonard, a., 2008, the Story of Stuff, http://storyofstuff.ethicalbrand.org/last accessed on May 30, 2008

Wallace, E., May 13, 2008, the Reason for High Oil Prices, Business Week, http://www.businessweek.com/lifestyle/content/may2008/bw20080513_720178.htm?campaign_id=rss_topStorieslast accessed on May 30, 2008

Xuequan, M., April 18, 2008, Weak Dollar Not Sole Reason for High Oil Prices, Xinhua News Agency, http://news.xinhuanet.com/english/2008-04/18/content_7999121.html. Ast accessed on May 30, 2008

2004, Why are Oil Prices so High?, BBC News, http://news.bbc.co.uk/2/hi/business/3708951.stmlast accessed on May 30, 2008
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Exxon's Oil Tanker Valdez Ran

Words: 2180 Length: 8 Pages Document Type: Essay Paper #: 29644320

The workforce should be clear about the implementation of technologies for protecting natural resources, through formulating strategies.

atification of the International Maritime Organization (IMO) 1984 Protocols

Domestic legislation on compensation and liability is needed to implement two IMO protocols related to compensation and liability. The United States should ratify the 1984 Protocols to the 1969 Civil Liability and the 1971 Fund Conventions. Expeditious ratification is essential to ensure international agreement on responsibilities associated with oil spills around the world' (A eport to the President: Executive Summary).

Introduction of Safeguards

It is imperative to establish such environmental safeguards so as to minimize the possibility of oil spillage, by improving transportation, production, storing facilities. 'The infrequency of major oil spills in recent years contributed to the complacency that exacerbated the effect of the Exxon Valdez spill' (CNN: Exxon found guilty).

Legislation on liability and compensation is needed

The Exxon Valdez incident has…… [Read More]

References

Michael Baffrey, Contracting Officer's, Technical Representative U.S. Department of the Interior Minerals Management Service Environmental Studies Section., Exxon Valdez Oil Spill, Cleanup, and Litigation: A Collection of Social-Impacts Information and Analysis.

Science and Transportation United States. Congress Senate Committee on Commerce, United States Congress, Exxon Oil Spill: Hearing Before the Committee on Commerce, Science, and Transportation.

Phillip Margulies., The EXXON Valdez Oil Spill.

Peter G. Wells., EXXON Valdez Oil Spill: fate and effects in Alaskan waters.