Chevron: Neccesity and demand for oil - Essay Example

Sur Supervisor Chevron: Necessity and Demand for Oil Chevron is one of the leading integrated energy company having interests in oil and gas exploration, refining and distribution businesses with headquarter in the US. The company is in operation across the world for last several decades. World energy demand is increasing at rapid rates and so the opportunities for the companies such as Chevron. Below mentioned graph depicts how rapidly the world energy demand has been increasing. Source: http://www.eia.gov/forecasts/ieo/world.

cfm Oil and natural gas will meet more than 80 percent of the world energy needs in decades to come. It has been forecast that world energy consumption will increase by over 50 percent in next 20 years. Advanced economies across Americas and Europe are passing through economic downside with unemployment rates remaining still high; however, that has been offset by the demand from developing countries such as China and India. In 2008, these two countries accounted for over 20 percent of total world energy consumption.

It is important to note that in 2009, energy consumption in China went pass that of the US for the first time. There is no doubt that Chevron being a major energy producer is likely to meet a large chunk of this increased demand worldwide (International Energy Outlook). Environmental impact due to burning of fossil fuels is significant as it releases greenhouse gases such as methane, carbon-dioxide in the atmosphere. These gases absorb the atmospheric heat and send it back to the earth.

In 2010, total carbon-dioxide release was estimated over 30 giga-tones and will go up in the years to come as the consumption is on increase at rapid rates. Not only will this but emissions from vehicles also go up significantly because private vehicles have been increasing in the countries such as China and India (OECD Environmental Outlook to 2050). Chevron is committed to meet the world energy demand in a manner that reduces pollution and waste generation by constantly improving the processes right from exploration to the refining of the petroleum resources.

Chevron supports programs that conserve natural resources and help protect the environment. In this respect, Chevrons commitment has been demonstrated at the Barrow island oil field in Australia by setting a benchmark for the biodiversity protection (Environment). In 2007, Chevron established Environmental, Social and Health Impact Assessment (ESHIA) process that ensures that all new projects are evaluated for environmental, social and health impacts. ESHIA is also used to identify and mitigate negative impacts of any project that are undertaken.

It is pertinent to note that so far 900 projects have been scrutinized under ESHIA worldwide. Chevron has taken all necessary steps to develop a freshwater management strategy to improve current production processes and make serious efforts to treat and recycle waste water for either in-house use or providing it for agricultural use. Similarly, chevron respects biodiversity on this planet and gives full consideration to this aspect while evaluating any new project. Its business units and safety staffs take all necessary measures to protect species and put intensive efforts to maintain biodiversity near their operational sites.

Works-CitedInternational Energy Outlook. US Energy Information Administration. eia.gov. Web. 24 Feb. 2013. < http://www.eia.gov/forecasts/ieo/world.cfm> OECD Environmental Outlook to 2050 . OECD. oecd.org. Web. 24 Feb. 2013. Environment. Chevron: Human Energy. Chevron.com. Web. 24 Feb. 2013.