Impact Of The Energy Industry On The Oil And Gas Industry

2.0 RATIONALE NNPC was founded in 1977 to manage Nigeria’s interests in the oil and gas industry. Prior to this, the oil industry was run by the international oil companies (IOCs), restricting the state’s involvement to collection of production leases, exploration license fees and regulation. In 1971, Nigeria joined the OPEC, whose major requirement was that the oil industries in the member states were to be nationalized. On the heels of that came a nationalization program which required the Nigerian government to own 60% equity of all investments made in the economy. In line with this, the NNOC (Nigerian National Oil Company), a progenitor of the NNPC, was established to handle the country’s major stake in the oil industry with respect†¦show more content†¦If properly managed, exploitation of these resources can yield huge revenue streams that would alleviate poverty and encourage growth. Weak or bad governance however, would escalate crime, corruption, increase pove rty and ultimately erode human rights. This however, is no excuse for oil and gas companies operating in such an environment to shirk their responsibility in respecting human rights. This then makes it all the more challenging. Managers therefore, should be conversant with the elements within their environment that wield power, and can impose their desires on the organization. Power and urgency should as a matter of high importance, be dealt with for managers to deliver the legal and moral interests of all legitimate stakeholders (Mitchel, et al., 1997). In managing this paradox, there must be trust existing within all concerned parties i.e. the JV partners (NNPC and CNL) and all relevant stakeholders, and that the parties concerned trust that the partners will conduct themselves in a societally responsible manner, up to denying itself profits (De Wit, 2014). CNL for example, is known to operate by an ethical policy which states; Do it safely or not at all. There’s always time to do it right (Chevron, 2015); and this cuts across all its intents from crossing the pedestrian walkway to its deep drilling operations. This has been distilled into the organizational culture and manyShow MoreRelatedThe 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 o nly 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 easy to see that technology affects retailRead MoreThe Canadian Oil Industrys Impact On Canada1477 Words   |  6 PagesCanadian Oil Industry’s Impact on Canada The Overview: Diverse and multi-faceted, the Canadian business market is one of the strongest functioning mixed market economies in the world. Within the Canadian economy, the oil and gas sector stands as one of the largest and most influential sectors. The oil and gas industry is unique as it affects almost every person and sector of the economy worldwide, whether it is through commodity or material input costs. In Canada, this growing industry could allowRead MoreEssay about JWI515 Week 5 Assignment 21521 Words   |  7 Pagesstructure of its industry and stake out a position that is more profitable and less vulnerable to attack. By understanding how the five competitive forces that shape strategy influences profitability in a particular industry, executives can develop a strategy for enhancing their company’s long-term profits (Porter, 2014). Define the relevant industry: The Oil Service Industry The oil/energy industry is one of the largest industries in the United States. According to the Department of Energy (DOE), fossilRead MoreExxon Mobil And Mobil Corporation1224 Words   |  5 Pagesthe seasons to gas prices. Many of the changes we are used to today, took a long time to become what they are now. For example, Exxon Mobil Corporation, also known as, Exxon Mobil, is an American multinational oil and gas corporation headquartered in Irving, Texas, United States. Exon Mobil is an industry leader in almost every aspect of the energy and petrochemical business, they operate facilities or market products in most of the world’s countries and explore for oil and natural gas on six continentsRead MoreHydraulic Fracturing Has Recently Grown In Popularity As1516 Words   |  7 Pagesrecently grown in popularity as a means of energy production. There are advantages and disadvantages, mainly relating to the environment and the economy, of this industry. Although there are p ros and cons to both sides of the issue, a compromise needs to be found for both the safety of the environment and to be able to support affordable energy production. Hydraulic fracturing, as an industry, has had a large economic impact by creating jobs. Using natural gas from hydraulic fracturing, instead of coalRead MoreGovernment Intervention On Kazakhstan Oil Industry Essay1449 Words   |  6 PagesName : Tinglin Zhang Subject : Assignment : Essay Topic : Government intervention in Kazakhstan Oil Industry The world concerned problem today 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 of the development of economy and society. With the development phase of Kazakhstan’s oil resources is speeding, the world big powers seek the benefits here, Kazakhstan becomes the new focusRead 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 MoreGovernment Intervention On Kazakhstan Oil Industry Essay1535 Words   |  7 Pageseconomics and economic theory in practice Assignment : Essay Topic : Government intervention in Kazakhstan Oil Industry The world concerned problem today is the energy problem. 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The Brave New World Response Paper - 1102 Words

After reading the novel Brave New World by Aldous Huxley I realized that this is no ordinary story. It predicts a future overpowered by technology and government and where the people have no true freedom of choice. This book made me think about whether the utopia depicted in the novel would be a perfect place to live or a terrible place to live. It is hard to distinguish where the line is drawn between making life simpler and losing the meaning of life. Although some may look upon this type of life with envy I personally would rather have to work hard and earn my living than to lose the chance to make my own destiny. The first thing that made me dislike the idea of this utopia was the fact that the government overpowered the world and†¦show more content†¦No one is given the chance to move up and make more of themselves. The members of each class are ranked according to their mental capacity and physical appearance which are also predetermined before their birth. This seems that it would take away all individual motivation and dreams. If you think about it sometimes dreams are all we have. It is unfair that even before you are born your future is already written out for you. Another reason I do not see brave new world as a utopia is the conditioning of the people which has lead them to a lack of individuality and care for each other’s well-being. Due to their conditioning, they do not fear death but accept it as a way of life, they view life as expendable. This goes against the most basic of human instincts. If the loss of a life means nothing, wouldn’t that convey the idea that the life itself meant nothing? The people in the book are also deprived of their history, culture, and background. According to my views, these things are an unquestionably important aspect of life and I would go so far as to say that I could not live without them. If the people of the brave new world were granted these things that signify individuality and freedom such as the ability to create their own culture, it leaves the possibility for revolution which is the very reason they are not given ability to obtain them. The society alsoShow MoreRelatedBuffy Mo ntgomery. Dr. Walter Frazee. Biology. March 11,852 Words   |  4 Pages Buffy Montgomery Dr. Walter Frazee Biology March 11, 2017 Are We Living in Huxley s Brave New World? In today s world, we are deeply divided into social classes. Entertainment rules the world and the people care more about Facebook likes and impersonal digital interactions then they do about spending real time with family and friends. In today s world, outrageous parties are thrown and everyone does ecstasy and praises their experience. We live in a wold whereRead MoreSeneca s Theory Of Ethics Caught My Interest1282 Words   |  6 Pageswould not know for I was not alive; however, it feels like we are in a similar climate. 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An Alarming Portrait of the Nuclear Power in the World Free Essays

Unfortunately, even if someone could wave a magic wand that causes all of the nuclear weapons on earth to disappear, many believe that due to the depletion of natural resources, the earth would still be in danger of catastrophe, and humankind in danger of extinction. Jonathan Schell’s book â€Å"Fate of the Earth† is an alarming portrait of the nuclear power in the world. Since the end of World War II, nuclear arms have kept the world’s population in a state of constant concern that â€Å"something† could happen, whether by design or accident. We will write a custom essay sample on An Alarming Portrait of the Nuclear Power in the World or any similar topic only for you Order Now As tensions continue to build throughout the Middle East, particularly between India and Pakistan, and more recently the nuclear potential of North Korea and China, the nuclear arms race may have subsided between the United States and Russia however, it is still alive and thriving around the globe. As Schell writes, â€Å"These bombs were built as weapons for war but their significance greatly transcends war and all its causes and outcomes†¦ They grew out of history, yet they threaten to end history† (Schell 3). The potential for nuclear war seems to increase daily as more countries seek to obtain the ultimate weapon of power, the â€Å"Rolls Royce† of combat, the ability to destroy thousands of lives in a flash. Yet with that flash, comes not only the possibility but the probability of more flashes resulting in incalculable damage to life and the earth itself. Schell writes that nuclear weapons â€Å"are a pit into which the whole world can fall – a nemesis of all human intentions, actions and hopes† (Schell 3). Yet, many believe that the earth’s future is in peril even without the threat of nuclear wars. They believe that the impact of man upon the environment and the planet’s natural resources threatens the earth and humankind as greatly as any nuclear war. Within recent decades, many environmental indicators have moved outside the range in which they have varied for the past half-million years (Wallstrom pp). According to a 2004 article in the International Herald Tribune, â€Å"We are altering our life support system and potentially pushing the planet into a far less hospitable state† and if policies cannot be developed to cope with the â€Å"uncertainty, complexity and magnitude of global change, the consequences for society may be huge† (Wallstrom pp). Although there has been much progress during the last century, such as the eradication of major diseases along with increased life expectancy and standards of living for many, the global population has tripled since 1930 to more than six billion and shows signs of continue growth, and moreover, the global economy has increased more than 15-fold since 1950 (Wallstrom pp). This progress has led to a wide-ranging impact on the environment as human activities have begun to significantly affect the planet and how it functions (Wallstrom pp). Atmospheric composition, land cover, marine ecosystems, coastal zones, freshwater systems and global biological diversity have all been substantially affected,† however, it is the magnitude and rate of this human-driven change that are most alarming (Wallstrom pp). The increase in atmospheric carbon dioxide due to human activity is nearly 100 parts per million and still growing (Wallstrom pp). This is already equal to the entire range experienced between an ice age and a warm period such as today and it has occurred at least ten times faster than any natural increase in the last half-million years (Wallstrom pp). Moreover, human influence extends beyond atmospheric carbon dioxide levels and increases in global mean temperature (Wallstrom pp). During the 1990’s, the average area of humid tropical forest cleared yearly was equivalent to roughly half the area of England, and at current extinction rates, humans â€Å"may well be on the way to the Earth’s sixth great extinction event† (Wallstrom pp). The Earth is a well-connected system, thus, carbon dioxide emitted in one country rapidly mixes throughout the atmosphere, and pollutants released into the ocean in one location are transported to distant parts of the planet (Wallstrom pp). The impacts of global change are complex, since they combine with local and regional environmental stresses in unexpected ways (Wallstrom pp). For example, coral reefs are now under additional pressure from changing carbonate chemistry in ocean surface waters, a result of the increase in atmospheric carbon dioxide (Wallstrom pp). Moreover, the wildfires that hit Europe, Canada, California and Australia in 2003 were the result of many factors, such as land management, ignition sources and extreme local weather (Wallstrom pp). However, prevailing warm and dry conditions, most likely linked to climate change, amplified fire intensity and extent (Wallstrom pp). Due to poor access to fresh water, more than two billion people now live under what experts call â€Å"sever water stress,† and with population growth and economic expansion, this number is expected to double by 2025 (Wallstrom pp). Biodiversity losses, currently driven by habitat destruction associated with land-cover change, will be further exacerbated by future climate change. Beyond 2050, rapid regional climate change, as would be caused by changes in ocean circulation in the North Atlantic, and irreversible changes, such as the melting of the Greenland ice sheet and the accompanying rise in sea levels of 6 meters, or 20 feet, could have huge economic and societal consequences (Wallstrom pp). Past geological records indicate that never before has the Earth experience the current â€Å"suite† of simultaneous changes and many feel that humans are sailing into â€Å"planetary terra incognita† (Wallstrom pp). According to a 1999 article from Cornell University, â€Å"because population growth can not continue indefinitely, society can either voluntarily control its numbers or let natural forces such as disease, malnutrition, and other disasters limit human numbers† (Pimentel pp). Human population, especially in urban areas, together with the increasing food, water, air, and soil pollution by pathogenic organisms and chemicals, are causing a rapid increase in the prevalence of disease and human deaths (Pimentel pp). Due to current food shortages, more than 3 billion people are malnourished worldwide, the largest number and proportion ever, and according to the World Health Organization, an estimated 40,000 children die each day due to malnutrition and other diseases (Pimentel pp). Humans are responsible for fifty-five percent of all available water run-off (Myers pp). Moreover, greater amounts of nitrogen and phosphorus are mobilized by humans in the form of crop fertilizer than by natural processes, and humans harvest an amount of ocean fish that reflects fully one third of phytoplankton productivity in temperate continental shelves (Myers pp). A NASA study released in April 2005, has revealed the heat exchange between the Earth and space is seriously out of balance, leading researchers to call it the â€Å"smoking gun† discovery that validates forecasts of global warming (Hanley pp). According to computer models of climate change, the global temperatures will rise 1 degree Fahrenheit this century, â€Å"even if greenhouse gases are capped tomorrow† (Hanley pp). And if carbon dioxide and other heat-trapping emissions continue to grow, things could spin â€Å"out of our control† especially as ocean levels rise from melting Greenland and Antarctic ice sheets (Hanley pp). James Hansen of NASA said the research shows that â€Å"for every square meter of surface area, the planet is absorbing almost one watt more of the sun’s energy than it is radiating back to space as heat – a historically large imbalance† (Hanley pp). According to a Stanford University study release May 16, 2005, the first signs of spring are appearing earlier each year: robins are arriving several days earlier, woodpeckers are laying their eggs a week earlier, and Washington’s cherry trees bloom a month earlier than they did fifty years ago (Borenstein pp). The study says that man-made global warming is clearly to blame, and means that the global environment is changing so fast that the slow evolutionary process of species adaptation cannot keep up (Borenstein pp). How to cite An Alarming Portrait of the Nuclear Power in the World, Essay examples