Energy and Climate Change in Petroleum Industry: Who Stands to Benefit
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Energy and Climate Change: Who Stands to Benefit
Understanding issues related to the petroleum industry and their concerns to the consumers is growing. Climate change is directly linked to carbon emission in large quantity, of which the primary source is the transportation and manufacturing sector (Barker & Hasselmann, 2008). Different diseases and epidemics have been associated with the environmental pollution with other associated environmental problems being oil spills, arctic oil drilling, and coal mining that is linked to fossil fuels (Bonini, Hintz & Mendonca, 2008). The quest for petroleum products continues to dig in as the world continues exploring oil sources even as many problems are faced in the process of the discoveries of the consumption (Oil, 2014).
There are needs to be a trade-off on technology and industrial advancement in order to perceive and achieve benefits presented by such advancements (Hasselmann& Barker, 2008). The world is increasingly demanding a consistent flow of oil to meet its growing need for energy as developing nations are expanding to achieve an equal playing field level. If not well controlled, oil calamities such as oil spills, pipeline rupture, and explosions and accidents will still pollute the globe. Pollution potential in oil refining process, sabotage and terrorism acts are of concern.
The general negative perception of petroleum industries from the watchdogs and the people who adds up as consumers paint them in a dark picture that presents them as destructors and not builders in terms of environmental conservation. The oil industries have to refocus their attention to effectively change negative perception and build on a positive reputation. Joining active collaborations in the preservation of the environment that they may end up relying on for profits and sustenance is a sure option. Environmental conserves argue that it is to everyone’s best interests that the oil firms join in the quest for the response to the climate change and activities on conservation (Bonini, Hintz & Mendonca, 2008).
Those people who stand to benefit from the toss and the tussle over the petroleum and environmental conservancy issues are the oil producing nations, developed countries, and the oil companies (Bonini, Hintz & Mendonca, 2008). Even as they tend to develop numerous solutions for spills seen on land and in the seas, the main actors in the petroleum industry play lead politics to serve their interests (Oil, 2014). Technology is continually being upgraded for mining and refining of oil products cutting previous pollution levels. These advancements presented by the technologically muscled nations have to be steered to ensure they play a critical role in the industry to increase profits and influence in the oil sector.
Oil firms are in the quest to improve their reputation and be in the charm offensive to conservationists while trying to reimburse for damages that might have been in any way caused while educating and funding conservation programs. Major players donate Millions of funds for conservancy and development issues that are seen to be a way of maintaining their image and changing perception of people. Shareholders and stakeholders in the oil industry are giving priority to their interests and benefits even as they show concern over items seen to be of significance such as environmental peace and human rights (Hasselmann & Barker, 2008).
Companies even extend further to consult advisory firms to find environmental issues to invest. The areas of investments such as of development and conservancy may present beneficiaries, but the motive is to expand sales and ensure the survival of the firms. This portrays companies and stakeholders as primary beneficiaries from the way the benefits are presented (Bonini, Hintz & Mendonca, 2008).