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Internal and external Environments for the oil and gas management Essay Example

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Internal and external Environments for the oil and gas management

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Experts are still discovering the potential uses of carbon cars, sticks and carrots, hydropower, solar energy etc. The need of the hour is to subsidize agencies and organizations to make efficacious use of these resources (Kopp, 2006).The research analysts studying oil and gas management also focus on the extent to which U.S and other oil producing countries are dependent on OPEC, a prestigious corporation. OPEC plays a major role in determining the prices of oil and its supply. When the global prices of oil increase, the American economy is likely to slow down production, as the Wall Street analysts show. The most eminent sectors of the US economy that are affected by OPEC are crude oil and motor gasoline. OPEC impacts the economies of the oil producing countries by pressurizing the tax system, production controls and quotas and nationalization of allowances (Ahdoot, Morsey & Vela, 2001).Hubbert’s predictions about the peak and downfall of oil reserves have been seen as being absolutely accurate. As he forecasted, the oil reserves in the world are finite however they can vary depending on the economy and technology. Before the dreadful peak in oil reserves is reached, people on the globe have to commence a shift to alternative energy powers. The work of Wood et al. and Cavallo reveal some catastrophic results and predictions. The peak in non-OPEC countries will be reached by 2015 to 2020 as experts foresee. Replications using the USGS-based resources estimates indicate that the peak for conventional oil will be reached after 2015 till 2040 (Transportation Research Record).Colin Campbell, the founder of London-based Oil Depletion Centre considering the peak theory predicted oil shortages and declines in reserves sooner or later. He suggests that the consumers gradually transform their lifestyles; his conclusions are based on a historical Meta analysis of the oil i According to him, global oil production in the 21st century declines 2 to 3 % every year. Campbell is one of those experts who question the accuracy of the statistics provided by USGS and IEA. He believes that majority of the facts about oil consumption and reserves come from Oil and Gas journal which are funded by the government. He critically analyses the facts presented by OPEC and continues to argue that these industries revise the facts upwards just to give an optimistic picture.To sum up the

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