Essay on The Impact of the Oil and Gas Industry on the...

The production of oil is a multi-billion dollar industry that affects the world on many different levels including environmental and economic, and these affects could be considered either positive or negative. Although there are many products of oil that people rely on every day, oil drilling has long been a controversial topic. Oil spills that endanger wild life and create pollution, and wars fought over lands that contain oil have been just a few of the damaging concerns that become heavily debated when the subject of oil is tackled. The upsides to these debates are the money it generates, the employment opportunities, and the products created using oil such as, gasoline, concrete, plastic, and even some clothes we wear. While oil may†¦show more content†¦Fish, sea otters, seals, whales, clams and birds were all affected by this tragedy. Fishing was a major part of this community, so in turn the people were affected also. This has been the largest oil spill to date, k illing more animals than any other oil spill in the world. â€Å"Only 2 of the 26 species studied by the Exxon Valdez Oil Spill Trustee Council have recovered (bald eagle and river otter). The Exxon Valdez spill killed nearly ten times as many birds as any other U.S. or European oil spill. As many as half a million birds died. Over 30,000 carcasses of 90 species of birds were plucked from the beaches, but this is only a fraction of the actual mortality. Harms to the birds from chronic effects and decreased reproduction continue to the present.† (Miller, 1999) The oil spill of Valdez is as much a problem now as it was 20 years ago. Even after two decades, people and animals are still suffering from the effects of an oil tanker spilling its cargo into the waters surrounding Alaska. â€Å"Much of the oil has been cleaned up or has biodegraded, but some of it still lingers. An estimated 21,000 gallons out of the 11 million that spilled (still remains) and the biodegradation process has actually slowed.† (Fowler, 2010) Because of the loss of fish life, fishermen of the community took loans in order to make it though their daily lives. They in turn sued Exxon for the negligence that landed them in this situation. Due to the lengthy court andShow MoreRelatedFuture Trends of the Venezuelan Oil and Gas Industry1357 Words   |  6 PagesVENEZUELA OIL AND GAS INDUSTRY (PDVSA) NAME: INSTITUTION: Venezuela is among world’s leading oil and gas industry holders. It is ranked 13th among the world’s largest oil producers and 10th among the exporters. Notably, it has historically been one of the United States largest sources of oil imports. These key contributions in the world attract experts’ opinions about Venezuela’s future trends in the industry. It is majorly dependent on key factors such as the customer needs, state of economiesRead MoreThe Oil And Gas Industry1293 Words   |  6 PagesThe oil and gas industry is characterized by many processes, including exploration, resource extraction, refining, transport, and the trade of products. These resources are important to a number of other industries, and have become vital to the maintenance of industrial civilization. Not only does energy affect the big businesses on the coasts and across the oceans; but it also affects everyday people in rural America, from pump jacks to coal mines. It’s eas y to see that technology affects retailRead MoreFactors And Challenges Of The Oil And Gas Industry1455 Words   |  6 PagesChallenges to the Oil and Gas Industry Dr. Saman Aryana â€Æ' Contents Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....2 Challenges to Oil and Gas Sector†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..2 Worsening Fiscal Terms†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 Conventional Reserves in Challenging Areas†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 Environmental and Health Issues†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Issues Related to Petroleum on Economy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4-5 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...9 â€Æ' Introduction Oil and Gas sector is oneRead MoreThe Effect Of Hydraulic Fracking On The Oil And Gas Industry1044 Words   |  5 PagesIntroduction Hydraulic Fracking is an oil and gas extraction process used in the past 60 years. 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With the development phase of Kazakhstan’s oil resources is speeding, the world big powers seek the benefits here, Kazakhstan becomes the new focus of the world political and economic competition. FromRead MoreStrategic Management : The Oil And Gas Industry1638 Words   |  7 PagesStrategic Management It is evident that one of the most important industries in the world is the oil and gas industry. This industry has a major impact on everyone’s lives by providing services such as transportation, heating, electricity fuels, blacktop, lubricants, and propane. The oil and gas industry also has an influence on national security, elections, geo politics, and international conflicts (Inkpen and Moffett). The prices of oil and gas are the most closely watched prices in the global economyRead MoreGovernment Intervention On Kazakhstan Oil Industry Essay1535 Words   |  7 PagesGovernment intervention in Kazakhstan Oil Industry The world concerned problem today is the energy problem. Among other reasons of its country is growing thirst for oil and gas made thus a matter of strategic energy security. Oil is the stratagem industry in the development of economy and society. As the Kazakhstan’s oil industry is speeding developing, becoming one biggest world resources station, that is the main reason for Kazakhstan becomes the new focus of the world political and economic competition