Exxon Mobil : New Jersey Standard And Vacuum Oil Company

ExxonMobil is the largest publicly traded oil and gas producing company. ExxonMobil does business in 200 countries world-wide (1). Some countries are designated for exploring gas and petroleum, and some are designated for manufacturing chemicals, lubricants, and market fuels (1). ExxonMobil's world-class petroleum portfolio gives access to proven reserves of 21.9 billion oil-equivalent barrels of oil and gas, which is the highest in the industry (1). The company's discovered resources consist of 72 billion oil equivalent barrels of oil and gas. On average, each day, they produce 2.5 million barrels of oil and 10.5 billion cubic feet of gas (4). Their asset base, includes more than 60,000 production wells in 1,800 fields in 25 countries.

in the winter and the ecological damage was not as big as Santa Barbara or many

In the political cartoon drawn by Taylor, you notice a large amount of symbolism. John D. Rockefeller is seen holding the White House in the palm of his hands; surrounding him, hundreds of oil barrels and the Capitol building pictured as an oil refinery. This image literally symbolizes the power oil companies' —specifically Rockefeller's Standard Oil Company's— power over the economy and the government years after the Civil War.

In 1859 Edwin Drake and E. B. Bowditch of the Seneca Oil Company drilled the first commercial oil well in the United States in Titusville, Pennsylvania. The well produces about 500 gallons of oil a day and over time has increased. Soon, similar wells all over western Pennsylvania were providing crude oil for kerosene production that was needed to fuel the nation 's streetlights and house lamps. “The lighter boiling component, gasoline, was discarded, since it had no market. There are historical reports that "waste" gasoline, which had been dumped into rivers, sometimes caught fire. In 1892 the first gasoline-powered engines, for both car and tractor, were developed: This soon provided a market for the once useless substance, gasoline”

One of the most recognized disasters regarding hazardous chemicals is the wreck of the infamous Exxon Valdez. After the oil tanker ran aground on Bligh reef in the spring of 1989, millions of liters of crude oil leaked into the Prince William Sound, off the coast of Northern Alaska causing millions of the native wildlife to die. Thankfully, it didn’t seep into the open ocean but the oil harmed not only the local Alaskan wildlife it also harmed the reputation and honesty of big oil corporations such as the Exxon shipping company, the livelihoods of thousands of the local fishermen and the water quality of the Prince William Sound. The Exxon Valdez

To begin, the Exxon Valdez Oil Spill was a man-made environmental disaster that occurred in 1989. On March 24, the Exxon Valdez oil tanker struck Bligh Reef and spilled 260,000 barrels of crude oil into the waters of Prince William Sound in Alaska (Piatt, Lensick, Butler, Kendziorek & Nysewander, 1990). Eventually, this oil spread across 30,000 km² of water, damaging ecosystems and marine life along the way (Piatt, 1990). Evidently, this oil spill is considered to be one of the most destructive man-made environmental disasters in history (Dimdam, 2013).

This presentation features the Exxon Valdez oil spill, which significantly affected the environment in and around Valdez, Alaska. In this connection, Group D will explore: the background information of Prince William Sound, the oil business in Valdez and the event of the oil spill. Next, the team defines the problems – that is, the effects of the spill – what damage did it cause. After, we will diagnose the issues – meaning that the group intends to pinpoint the root causes of the problems. The next step is to substantiate that the stated causes are linked to the issues; to accomplish the aforesaid, the response time and level of preparedness will be analysed. In order to mitigate similar incidents, the team explores action plans that have

Looking back on the night of March 24, 1989 when the Exxon Valdez left port, it seemed as though the ship had only lasted as long as it had by running on luck and hope. With the company trying to save money and the crew working on fumes, things were headed down a dark path. One of the wonderful things about being human is our ability to look back on events that have occurred and learn from them. Unfortunately for Exxon, it took a catastrophic accident like this one to show how operations could be improved and how to be better prepared for the unexpected. These events are broken down to shed light on what made the Exxon Valdez accident a mess from port departure to today.

The Deepwater Horizon Oil Spill occurred on April 20, 2010 in the Gulf of Mexico. This oil spill was the largest spill in history in front of the Exxon Valdez oil spill of 1989. This oil spill released about 4.9 million barrels of oil into the ocean. This spill not only wreck havoc on the marine life but also the economic players that depended on ocean such as fisherman, tourism, and offshore drilling located along the gulf coast. Along will the spill the oil rig which was named Deepwater Horizon also went up in flames. This proved that the issue went far beyond just an oil rig that blew a line. Since this oil spill had drastic impacts all along the coast, BP which was the most liable for this incident faced criminal charges based on what happened. BP which knew the risks of deep ocean drilling failed to take the necessary safety procedures to reduce the risks of such incident occurring, thus was the reasoning behind placing most of the fault on them and not the other companies. The lack of regulatory oversight led to the issues and cost-cutting procedures opened the rig up to possible malfunctions like the one that occurred. During the spill into the gulf, BP sealed the well with cement which seemed to stop a majority of the oil from escaping the well. BP also recognized that the well was “dead” which was proven wrong when scientists still could conclude was leaking minor amounts of oil into the ocean. This spill not only proved to be harmful to the environment but also

Although the three companies have had oil spills I would like to gear the attention to the two biggest in the United States. Exxon Mobil and British Petroleum (BP) are both guilty of the two largest oil spills within our countries history. The Exxon Mobil oil spill occurred on March 24th, 1989 in Gulf of Alaska closest to the city of Prince William Sound. The Exxon supertanker ran into a reef below the surface of the water. The reef gorged the side of the super tanker releasing 11

There are a few reasons identified as how the oil spill occurred. One reason was that the Exxon Shipping Company failed to supervise the Captain who was thought to be heavily drinking on the night of the crash. Exxon also didn’t provide a rested and sufficient crew for the Exxon Valdez, possibly to save money.

Exxon and Chevron are no doubt some of the leading incorporated oil companies on the globe. Exxon Corp. is the second largest oil firm after Royal Dutch Shell, it is respected for getting the biggest revenue return in 2008 which no company in the U.S. have ever reported before. According to Wilson (2009) Chevron has managed to show a lot of profitability in the market despite the decease in its oil production. It graded as one of firms which made a billion dollars profit within a week in the period of July to September 2008. Regardless of profitability trends set by the two oil firms in the U.S. market, they have been facing financial decline like the rest of the companies in other industries. The two firms are like two sailing ships which are taking longer time to sink. In the last few years, the production capacity of Chevron and Exxon has decreased and their listings on the stock market have become weak. The continuation of construction and drilling which requires billions of dollars in expense of oil production might make them experience a bigger financial crisis (Wilson, 2009).

Exxon Mobile is one of the most successful companies in the oil and energy industries today. But what makes them so successful? In an effort to answer this question, a thorough internal investigation can be helpful in determining what aspects of this company are making it an industry leader. Two aspects of this internal analysis of Exxon Mobile are the company’s resources and capabilities.

There are three short term recommendations and three long term recommendations. The short term recommendations are so the company can decrease their net capital to debt ratios, create a competitive advantage, and decrease research and development time frame. The long term recommendations are for the company to evolve, explore the market analysis, and invest in more biofuel options.

On April 20, the explosion on the Deepwater Horizon drilling rig in the Gulf of Mexico led to the largest accidental release of oil into marine waters in history. As a result, a huge loss of money and life was caused and affected serious environmental damage to wild animals and water pollution. BP was accused of their irresponsibility that it took 87 days before the well was closed and sealed. BP’s shares