Petroleum - An Analysis and Critical History - Coursework Example

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This paper focuses on the analysis and critical history of petroleum. With the efficiency has come technological infrastructure both in terms of consumption and production. Oil consumption is recognized to carry with it a formidable amount of concerns in terms of over-reliance, cost, and pollution…
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Petroleum - An Analysis and Critical History
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Download file to see previous pages The value of oil as a natural commodity has resulted in the development of a multi-trillion dollar multinational oil industry. In the United States, this industry emerged during the early parts of the 20th century through Standard Oil. Different interpretations of this organizations’ strategic business processes exist, with some sides arguing that the organization implemented nefarious business practices, while others indicating they were part of the general capitalist spirit (Parra 2009). In either case, Standard Oil developed a monopoly during the 20th century that was eventually broken up. The divided pieces now globally represent the major corporations involved in the procurement, processing, and sale of petroleum. These oil organizations argue that they are providing a valuable and necessary service to the world, as well as fulfilling their obligations to their stakeholders. Considerable controversy has arisen, however, surrounding the extent that these oil companies are acting in the best interests of the public, as petroleum has been intimately connected with large-scale environmental concerns and political strife. One of the crucial truths about oil is that it is a dwindling resource. While peak oil scenarios vary among theorists, most researchers agree that in the United States oil reserves peaked in the 1970s (Deffeyes 2006). In the United Kingdom, oil production has increasingly pushed suppliers into the turbulent North Sea area. In the Middle, East oil has both united regions, as with Saudi Arabia, but also created incidents of severe political strife. Still, perhaps more troubling are the entrance of multinational oil firms, such as Shell and Chevron, into highly marginalized world regions such as Africa (Barsky & Killian 2004). While the infusion of capital into these regions has been welcomed, the lack of strong and developed political and cultural infrastructure has created oftentimes-unstable situations. Additionally, the multinational organizations in these regions frequently operate under less than optimal regulatory conditions (Barsky & Killian 2004). The combinatory effects of such an environment raise a number of challenging questions regarding corporate social responsibility. A number of theorists have considered many of the factors that directly contribute to political strife that arises as a direct result of petroleum acquisition and production. Zalik (2009) notes that oil is characteristically pre-informational as it is location-specific. The considerable infrastructure costs surrounding this resource creates situations where an organization cannot simply decide to relocate when confronted with challenging circumstances. Such ‘boundedness’ as Zalik (2009) terms it is understood to be a major contributing factor to conflicts surrounding oil. Cameron and Palan (2004) further contend that the position of the petroleum within this paradigm of boundedness has a further contributing effect on the potential of corporate or regional deviance. Namely, offshore drilling, or production removed from social centers, holds more potential for deviance as it occurs in a region that is removed from direct and regular observation; this effectively limits adherence to institutional and social pressures. ...Download file to see next pagesRead More
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At first, I thought 10 of pages is too much for such a subject. But now I see it could not be done better. As the author starts you see the difficulty of the issue. I’ve read all at once. Great example

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