Exxon and the Environment Essay

Open, View, and/or
Download this Document

Total Length: 866 words ( 3 double-spaced pages)

Total Sources: 3

Page 1 of 3

ExxonMobil

Domestic Environment

The oil industry in the U.S. serves as the foundation for virtually the whole economy. The U.S. has largely exhausted its own domestic oil supply so it must rely primarily on foreign sources. New technologies have allowed the extraction of the oil that still remains in the U.S. Offshore drilling and oil reserves that are only accessible by hydraulic fracking represent the two best examples of controversial extraction methods. The oil spill in the Gulf of Mexico represents very clearly the risks associated with off-shore extraction. Furthermore, hydraulic fracking and the use of shale reserves have also been meet with a lot of resistance for their environmental risks.

Global Environment

The global environment for oil and gas has changed significantly in just the last few years. The conditions have been created 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.

Stuck Writing Your "Exxon and the Environment" Essay?

View All Our Example Exxon and the Environment Essay

Have A Custom Example Essay Written



Economic Environment

Currently the economic environment for oil producers and related industries is somewhat bleak in the short-term. The fall in oil prices has led companies to experience falling margins and losses. Exxon has not been immune from this trend, even with its massive size. Companies will have to make some tough economic decision in the short-term.

"Exxon Mobil and Chevron on Friday posted their worst quarterly results of the current decade as oil and natural gas prices continued to plunge.

The results of the companies, and those of almost the entire oil patch this week, were disappointing but not all that surprising since the price of oil is now half what it was a year ago." (Krauss, 2015)

Figure 1 - Prices/Production (The Economist, 2015)

Political-Legal Environment

There are two primary political risks to Exxon and other companies in the oil industry. One obvious risk is due to different regulations that could be enacted that deal with environmental or other issues. However, much of the oil and gas industry is heavily subsidized and….....

Show More ⇣

     Open the full completed essay and source list


OR

     Order a one-of-a-kind custom essay on this topic


sample essay writing service

Cite This Resource:

Latest APA Format (6th edition)

Copy Reference
"Exxon And The Environment" (2015, October 29) Retrieved June 4, 2026, from
https://www.aceyourpaper.com/essays/exxon-environment-2157716

Latest MLA Format (8th edition)

Copy Reference
"Exxon And The Environment" 29 October 2015. Web.4 June. 2026. <
https://www.aceyourpaper.com/essays/exxon-environment-2157716>

Latest Chicago Format (16th edition)

Copy Reference
"Exxon And The Environment", 29 October 2015, Accessed.4 June. 2026,
https://www.aceyourpaper.com/essays/exxon-environment-2157716
   

Open, View, and/or
Download this Document
order custom essay example