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There is an increased awareness on the need to control greenhouse gas emissions in order to curtail dramatic changes in climate through implementation of climatic treaties such as the Kyoto Protocol in which the most significant feature is the commitment by developed nations to reduce the emission of greenhouse gases (Malin). Several petroleum industries have adopted various strategies to control emissions and thus contribute to a cleaner environment. While some companies such as BP Amoco have extended support to the climatic treaty, others like ExxonMobil have criticized the treaty stating that the present emission rate is not that bad and adopting strategies to reduce emissions will only have a negative impact on the economy (Van den Hove, Le Menestrel and De Bettignies).
The major change occurring in global climatic conditions, commonly referred to a global warming, is attributed to the increase in the mean global temperature and the rise in the atmospheric concentration of greenhouse gases such as carbon dioxide and methane. The Petroleum industry is regarded as a major contributor of greenhouse gases which could occur in any of the following three ways. A majority of greenhouse gas emissions, especially carbon dioxide, occurs via the combustion of fuels in transportation, furnaces and boilers. Emission of large amounts of methane occurs during the production and refining of crude oil as well as during transportation. Large quantities of carbon dioxide are also released during the production stage. Carbon dioxide is also released during the production of plastics, rubber, petroleum-based solvents, lubricants and waxes using petroleum derived-feedstock’s (Bluestein and Rackley). Thus the petroleum industry contributed doubly towards greenhouse gas emissions and hence is accountable for the emissions resulting from their own production and indirectly for the emissions released by the use of its products.
In response to the need to control
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