Case Study on Petroleum Industry:
Petroleum industry is the branch of economy which focuses on exploration, development, production and transportation of oil to consumers.
Petroleum industry is closely connected with geophysics, geology, chemistry, technology of the production of the machinery used in the industry, etc. The bases of the petroleum industry are the oil exploration and production companies, which can be called the monopolists in this sphere. The process of oil production is extremely difficult and it includes exploration of the wells, drilling and repair of the wells after their intensive use, purification of oil from sulphur and other chemicals which reduce the quality of the petroleum and many other factors. When the crude oil has been extracted, it is transported to the plants which would purify and transform it producing petroleum form it. Oil is transported within the country or several countries by pipelines. Of course, it is possible to transport it with the help of other means, like tankers, supertankers, trucks, etc. but pipelines are supposed to be the cheapest and the most effective means.
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Petroleum industry is supposed to be the most profitable business in the world, because the modern civilization exists due to transport which requires fuel all the time. Furthermore, the prices on fuel increase gradually making oil magnates richer. Unfortunately, petroleum industry is associated with numerous negative facts, like pollution, corruption and delay of the technological progress. Because of the accidents during the transportation of crude oil vast coastal areas are polluted with oil killing animals and fish and the gas emissions produced by cars pollute atmosphere. Finally, because of the popularity of oil it is impossible to develop more secure and healthier fuel for transportation.
Petroleum industry is one of the most profitable but harmful industries in the world. The oil magnates make enormous money but cause serious harm to the natural environment. The student who is asked to prepare a successful assignment about the analysis of petroleum industry should dwell on the background information about it found at the reliable sources. The young person has to think about the cause and effects of problems on petroleum industry taking into account the system of facts gained during the research and after that one has to generate wise solutions and compromises to the existing problem suggested in the case.
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