The Importance Of Solution To The Oil Industry

1769 Words 8 Pages
Register to read the introduction… As endangered animals is the casualty of oil spills and leakage, building shelters for the animals would only be a momentary solution. Although it is equally important to pay attention to the ecosystem and provide shelter to avoid further catastrophe, it would be a better investment of time and money to concentrate the focus on developing ways to avoid future spills. In addition, if oil companies were to gear towards building shelters for animals versus advancing to find ways to prevent contaminating the ocean, they would constantly be spending funds to provide for the animals one spill after another. Therefore it would become a continuous cycle with no real solution. Not to mention, both indirect and direct expenses, which include cleanup activities, ecosystem restoration, and legal settlements, of oil spills are so high that it would be best to work towards the path of preventing future spills. Also, there are just too many casualties to an oil spill to not prioritize the importance of prevention. Not only is it costly, but environmentally, it affects the entire ecosystem. It creates an imbalance in food chain, contaminate marine life, and heavily oil wildlife. …show more content…
“The oil industry doesn’t have the best support from the public; it has the worst public image and is the least popular business sector in America according to a Gallup poll taken last year (Newport, 2012).” To see that the negative rating towards the oil industry is higher than what the respondents had for the government and other private industries, it would take a lot for oil companies to gain any level of trust or liking from the public. The “big five” which includes BP, Chevron Corp, ConocoPhillips, ExxonMobil Corp, and the Royal Dutch Shell Group, earned together about $91 billion in profits through the first three quarters of the year 2012 (Weidman and Weiss, 2012). With a staggering amount of money in the pockets of these major oil companies, what would make the company less hypocritical is to see a large amount of the profit go into ecosystem restoration rather than using the profit to “enrich their top executives and largest shareholders by repurchasing their own stock (Weidman and Weiss, 2012).” Not to mention, the oil industry’s ties with politics hinder the public’s opinion as it invests in lobbying and election, and in return receive special tax breaks all while producing less oil. With proof that oil companies make more than enough profit to repurchase stocks and campaign elections, the company should not just stop at funding ecosystem restoration. Instead it should …show more content…
By doing more research on how they can prevent oil spills they can ultimately do more for the animals by not having these big oil spills that are dangerous for them. Also a way for the oil companies to be less hypocritical would be for them to admit when they make a mistake and take care of it quickly. Even if it is something small is it still harmful for the environment and they are doing anyone any good hiding it from the public eye. We think that they would be more respectable if they just owned up to what they

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