While oil is a valuable resource,
Like... The river it is also a curse. Its flow is inconstant. In drought years, the supply of water falls; in other years, floods can take their toll, leaving death and destruction in their wake. It can become polluted, causing both health and economic problems for its users.
Davis J.)
The above analogy highlights some of the essential features of the modern oil industry and the way that it affects world economies. Oil is essentially a limited commodity as well as being a vital resource for the international economy. As such it is also affected by a range of different variables; including politics, international affairs, fluctuating market prices, environmental concerns and other factors that all combine to form of complex picture of the industry in relation to the international community.
One of the central features of the contemporary oil industry is the problem of environmental pollution. This…...
mlaBibliography
Analysis of the Impact of High Oil Prices on the Global Economy. 2004. August
Davis J. "And then there were four..." A Thumbnail History of Oil Industry
Restructuring, 1971 -2005. 2006. 21 Aug. 2007. www.questia.com/PM.qst?a=o&d=11161466http://64.233.167.104/search?q=cache:uH5HUnEz1mUJ:www.ashgate.com/subject_area/downloads/sample_chapters/Changing_World_of_Oil_Ch1.pdf+impact+of+the+oil+industry+on+international+economy&l=en&t=clnk&d=6&l=uk
Peak Oil
The global oil industry covered all of Earth's continents in search of oil, and the limited results that they found prompted geologist M. King Hubbert to declare an impending peak oil situation; but the prospect of peak oil has not been reached more than 60 years later, and in fact, the rate of new oil prospectus has been growing in the past decade. The reason for this is sheer innovation; from the ground to the pump, in achieving further gains from existing oil fields, and opening up entirely new regions of untapped oil.
The first new technology since the 1950s is the least exciting, but cheapest option. It is the practice of using steam and gas in existing oil wells in order to loosen the hardened oil that is not easily pumped out in a liquid form. This technology has been used effectively in oil fields like the Kern River…...
mlaWorks Cited
"Hydraulic Fracturing Background Information." Home. 23 Mar. 2012. Web. .
Leovy, Jill. "Greenspace." Gulf Oil Spill: Drilling Technology Explained. 29 Apr. 2010. Web. .
"Local." Gov. Brown Welcomes Fuel-Efficient Boeing Dreamliner To Long Beach -- CBS Los Angeles. 12 Mar. 2012. Web. .
Mouawad, Jad. "Oil Innovations Pump New Life Into Old Wells." The New York Times, 5 Mar. 2007. Web. .
Oil Industry
For the corporation that has acquired another company, merged with another company, or been acquired by another company, evaluate the strategy that led to the merger or acquisition to determine whether or not this merger or acquisition was a wise choice. Justify your opinion.
The oil and gas industry is extremely important in how the world operates and sustains its living. The ability to capture the nature resources provided to us by the environment has proven to be a very lucrative and profit rich industry that had demonstrated its worth over the long run. Within this industry, there are many large and powerful companies that have built strong organizations across the globe. Exxon -- Mobil is one such company that has experienced mergers and has benefited greatly off of their benefits.
The joining between Exxon and Mobil in 1999 created shockwaves around the industry as a new global giant had…...
mlaReferences
Coll, S. (2012). Private empire: ExxonMobil and American power. Penguin.
Corcoran, G. (2010). Exxon-Mobil 12 Years Later: Archetype of a Successful Deal. The Wall Street Journal, 30 Nov 2010. Retrieved from http://blogs.wsj.com/deals/2010/11/30/exxon-mobil-12-years-later-archetype-of-a-successful-deal/
DCP Midstream Partners (nd). Competitive Strengths. Viewed 29 May 2014. Retrieved from http://www.dcppartners.com/company/competitive-strengths
Exxon Mobil (nd). Our History. Viewed 29 May 2014. Retrieved from http://corporate.exxonmobil.com/en/company/about-us/history/overview
Environmental Science class.. Title the Oil Industry Environment
APA Guidelines format 4-6 References I 4-6 Pages ritten text photos / data tables
The effects of the Oil Industry on the Environment
In spite of the fact that society has experienced significant moral progress in the recent decades, people continue to associate well-being with financial profits regardless of the effects that their actions have on society and this is reflected by the fact that the oil industry has inflicted great damage on the environment in the last few years. The fact that society has come to depend on oil makes it especially difficult for someone to experience positive results as a result of criticizing individuals involved in the oil business. Communities who have access to free oil wells are privileged and society has virtually learnt to exploit any oil source that it can possibly find. This has devastating consequences on the environment, considering…...
mlaWorks cited:
Ali-Akpajiak, Sofo, C.A. Pyke, Toni, "Measuring poverty in Nigeria," (Oxfam, 2003)
Struzik, Ed, "Killing Wolves: A Product ofAlberta's Big Oil and Gas Boom," retrieved March 29, 2012, from the Yale Environment 360 Website: http://e360.yale.edu/feature/alberta_canada_energy_boom_places_wolves_in_the_crosshairs/2459/
Taylor, Dorcetta, E. "Environment and Social Justice: An International Perspective," (Emerald Group Publishing, 2010)
McQuaid, John, "The Gulf of Mexico Oil Spill:An Accident Waiting to Happen" retrieved March 29, 2012, from the Yale Environment 360 Website: http://e360.yale.edu/feature/the_gulf_of_mexico_oil_spill_an_accident_waiting_to_happen/2272/
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 oil price shocks…...
mlaWorks 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
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…...
mlaReferences
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.
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 why there is…...
mlaReferences
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
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 virtually the whole…...
mlaReferences
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/
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…...
mlaReferences
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& ;
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 ways…...
mlaSources
Charon Advantages & Disadvantages of the Vertical Functional Organizational Structure
Inkpen, A The Global Oil and Gas Industry -- 2010. Thunderbird.
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…...
mlaReferences
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: [Accessed 17 Nov. 2015].http://www.bnkpetroleum.com/about-us/faqs?view=category&id=17
Fine, L. (2009). The SWOT analysis. [Place of publication not identified]: Kick It.
Grant, R. and Grant, R. (2005). Contemporary strategy analysis. Malden: Blackwell.
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.…...
mlaReferences
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.
Natural Resource: OilCrude oil is a vital natural resource that is used to produce gasoline, diesel, jet fuel, and other petroleum products that fuel transportation and industry around the world. It is one of the most important natural resources in the world today because of the industrialized economies of most of the nations on the planet. Everyone uses oil every day, even if they do not realize it. The sanctions against Russia since 2020 have shown dramatically how important the flow of oil is to the whole world. Those countries that have large access to oil have a great deal of power and influence in the world simply because they can provide the one natural resources that people need for power and other products. For that reason, the Middle East is poweful from a natural resource point of view: it is home to some of the world\\\'s largest oil reserves,…...
).
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 well as…...
mlaWorks Cited
Bloch, David (1996) "The Salt Monopoly in France," published online at Accessed 5/20/06.http://salt.org.il/frame_econ.html.
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.
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 drill stem attached…...
mlaReferences
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
Here are ten essay titles on changes in oil marketing, formatted with proper spacing:
1. The Evolution of Oil Marketing Strategies: From Traditional to Digital
2. Analyzing the Impact of Globalization on Oil Marketing Techniques
3. Shifting Paradigms: A Comparative Study of Traditional and Renewable Energy Marketing in the Oil Industry
4. The Role of Social Media in Transforming Oil Marketing Strategies
5. Exploring the Influence of Political Factors on Oil Marketing Trends
6. A Sustainable Approach: Examining Green Marketing Initiatives in the Oil Industry
7. Consumer Behavior Shifts in the Era of Energy Efficiency: Implications for Oil Marketing
8. Harnessing Big Data Analytics in Oil Marketing: A....
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