The petroleum industry is a very large one. It involves many activities that are vital before we can be able to enjoy the petroleum products. Petroleum Industry is regarded as one of the most profitable business to venture. Most of the world rich people are in the petroleum industry. The people in the industry have a lot of money and have led to growth of other sectors that they have invested their huge monies in. The two there sectors that require a lot of money to venture in and have been highly developed because of the petroleum money is the airlines transport, hotel industry and the sporting with the fuel tycoons being owners of the largest sporting clubs in the world.
Importance of Petroleum Industry
The Petroleum Industry does the global work of exploring for crude oil which is the raw material for petroleum products. When they discover crude oil, they embark extraction. After extraction the petroleum companies can either refine the products or sell them to other countries that do not have crude oil. It is then the work of the importing country to refine crude oil to get the finished products. Countries that have petroleum refining plants in their country are the ones that import the raw crude oil. Other countries that do not have refinery plants are forced to import refined products which are of course expensive. The petroleum Industry is also responsible for marketing petroleum products. They also have to make sure that they create utility by taking the products close to the market. They are thus responsible for transportation which could be via pipelines or tankers. The main products of this industry are petrol and fuel oil. Other products include plastics, fertilizers, solvents, pesticides, tar and pharmaceuticals. Petroleum is the major contributor to industrialization as a lot of energy in industries.
Petroleum industries have got a lot of by products. These products have in most of the times been directed to rivers thus causing a lot of water pollution. Oil spillage especially when pipe lines are used to transport petroleum products in oceans and lakes is very common. During combustion of petroleum fuel, green house gasses and other by products are emitted. These cause pollution and slow but gradual depletion of the ozone layer. During refining, petroleum companies emit volatile compounds. The emissions are organic compounds and they react and lead to formation of a smog which is also known as ground-level-ozone.
Essay on The Impact of the Oil and Gas Industry on the World
2312 Words10 Pages
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, killing more animals than any other oil spill in the world. “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. “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 and