Investigating The External Factors That Act As Major Threats Facing Exxonmobil

     Chevron Texaco, or Texaco Shell, is the leading competitor to ExxonMobil. Texaco is in the same areas of business as Exxon. Their petroleum products and lubricants are sold in the same markets, stores, and in many cases opposite street corners from each other. The two companies are very similar, but Exxon’s recent petroleum deals in the Middle East and Africa have allowed its stock price to jump ahead for the time being (1). In the industry, the two companies mainly compete for the ability to negotiate for new production. The competition is not made at the pump or at the local auto store. It seems that it’s more important to control oil than it is to sell it quickly. Because oil has so much value and power in the world, the industry is made of semi-friendly companies. Surviving and making as much profit as possible, is more important than trying to put people out of business.

It is alarming to know that each year there are over 4,500 scaffold injuries and 65 deaths (Occupational Safety and Health Administration [OSHA], 2016). In addition, there is a high risk for construction workers to be struck from objects falling off scaffolds. With these facts in mind, the Occupational Safety and Health Review Commission’s (OSHRC) 2013 case of the Secretary of Labor v Performance Contracting, Inc. (PCI) raises questions as to why violations of OSHA’s scaffold standards are sometimes considered “other-than serious.” Understanding that OSHA gives the Secretary of Labor the tasks of rulemaking and enforcement of its rules, it also gives the task of carrying out the legal process to the commission which both parties accepted, as well as PCI “engaging as a business affecting interstate commerce” (Secretary of Labor v. PCI, 2013, pp. 2-3). Knowledge of the case’s background, parties involved, arguments presented, cases used to reach a verdict, and final ruling provide insight to the penalties assessed, significance, and personal opinion.

ExxonMobil is identified as one of the world’s leading oil and gas businesses. It manages market commodities and means countrywide. ExxonMobil is entail in “marketing, gas, and oil exploration, transportation and production in roughly 200 nations” (ExxonMobil, 2015). This company furnishes assistance and products under label names such as “Mobil, Esso, and Exxon. ExxonMobil is known as one of the biggest oil industrial installation where a substance is refined in the nation” (ExxonMobil, 2015). This essay discusses ExxonMobil’s strategic initiative from

Intro: Chevron and Exxon are two major gasoline providers for North America. While typical citizens see their existence as gas station companies, they have other aspects to their company. Chevron also produce and transport crude oil and natural gas, refine, market and distribute transportation fuels and lubricants, manufacture and sell petrochemical products, and generate power and produce geothermal energy. (http://www.chevron.com/about/leadership/). Exxon is also another well-known company. Exxon produces and sells fuel and produces petrochemical products. Chevron and Exxon have both been on the fortune 500 list for over five years. Human resource policies, merging of companies, and ____ have all contributed to the success of these companies.

5. Occupational Safety and Health Act of 1970 (OSHA): This act was used by Chevron, in the Supreme Court to make its case stronger. The act states the following

This lack of regulatory funding not only increases the chances that leaks will happen as, for example, pipelines degrade over time, but it also puts the burden on companies to self-regulate, thus leading to underreporting or not reporting incidents (Becker, 2016; Groeger, 2012). This lack of reporting might increase the chances that people consume oil-polluted water following a spill or leak, possibly endangering public health-- though these health impacts often go unmeasured according to Dara O’Rourke and Sara Connolly (2003, p. 601). Furthermore, while companies stay silent to avoid being fined or penalized, any other environmental degradation might continue as well. This situation is not simply predictable; it has happened, as recently as 2013 in North Dakota when Tesoro “spilled more than 20,000 barrels of crude oil in a wheat field in Tioga” (Becker, p. 21) and went undetected over eleven days (Bell, 2014, p. 14). Dara O’Rourke and Sara Connolly point out that in part because pipelines are “highly prone to corrosion” (2003, p. 601), these undetected leaks and small spills are common and cumulative (p. 598). Note that this funding problem, which weakens enforcement of reporting requirements, is likely to worsen with this next

America the beautiful, land of the greed and the home of oil. Along with being a major superpower comes an insurmountable thirst for fossil fuels. Imperialist ideals and the corporate oil empire can bring stability and jobs but heavy costs also arise. Numerous solutions have been tried, but without fixing the underlying problem more issues are inevitable. Our over-consumption has an incredible effect on our reliance on foreign oil. OPEC, the Organization of the Oil Producing Countries, has supplied Americans with a constant flow of both oil and jobs. Nevertheless, progression comes with high cost to our environment, in addition to pulling us into international involvements. Increasing the United States’ domestic oil production was just a

To guarantee the safety of employees and help prevent injuries and exposure or contact with hazardous or toxic materials on the job, employers must be familiar and comply with the rules and regulations of the Occupational Safety and Health Administration (OSHA) and provide a hazard-free work place. The protection of employee health and safety is regulated by the government. Non-compliance or violations of OSHA standards could find employers subject to costly fines, and even worse, injury or death of an employee. This can easily be prevented by employers familiarizing and educating themselves and their employees about creating and maintaining a safe working environment by providing training and having materials easily accessible to employees.

Exxon Mobil is a combination of two of the United States’ oldest oil companies: Jersey Standard and Vacuum Oil Company. These companies are 2 of the 34 oil companies that Standard Oil was broken up into after the 1911 Supreme Court decision that ended John D. Rockefeller’s trust. The Standard Oil Company of New Jersey v. United States case decision was made after the court deemed the Standard Oil Company’s monopoly on oil businesses unnecessary and in violation of the Sherman Antitrust Act. The name Exxon Mobil is devised after Jersey Standard changes its name to the Exxon Corporation in 1972 and also when Vacuum Oil Company changes its name to Mobil Oil Company in 1966. After being split for 88 years, the two corporations finally merge to become the Exxon Mobil Corporation on November 30, 1999. Based in the United States, the corporation is known around the world by the following three brands: Exxon, Esso, and Mobil. Esso was created by Jersey Standard in 1926 when the company releases a new blend of fuel; the name features the initials of their former company Standard Oil. Ten years before the merge, Exxon’s ship in Prince William Sound, Alaska, the Exxon Valdez faced a terrible oil spill in Alaska on March 24, 1989. Although the company claimed responsibility for their action and quickly cleaned up their mess, should Exxon Valdez done more or did they do enough to compensate for their mistake (ExxonMobil)?

ExxonMobil is a United States based transnational oil and gas corporation. Founded on the 30th of November 1999 after the merger between Exxon and Mobil, reuniting the original breakup of standard oil company (Folsom Jr 1998). It is the world’s largest publicly traded oil and gas company by market value and as of 2016, the sixth largest in terms of revenue at $246 million per year (Decarlo 2016) . ExxonMobil’s oil and gas exploration stretches across six continents with

(Ironically, the Exxon Mobil merger reassembled the legendary Standard Oil, John Rockefeller’s company. In 1911, antitrust authorities forced Standard Oil to break into two companies: Standard Oil of New Jersey, which later became Exxon, and Standard Oil of New York, which later became Mobil.) Nonetheless, the two companies had very different images in the oil industry. Mobil was seen as having a “combative feistiness,” whereas Exxon had a “relentlessly efficient stuffiness.”5 Because of the size of the companies, the merger was scrutinized by antitrust regulators and, in order to complete the merger, both companies had to get rid of certain operations, including almost 2,500 service stations in the United States and Europe. By the mere fact that a growing population of environmentally concerned people worldwide was skeptical of large oil companies and their promotion of fossil fuel use, both Exxon and Mobil struggled with their public image. Exxon had the most damage to contain, however, because of the 1989 Exxon Valdez oil spill in Alaska’s Prince William Sound, when the single-hulled oil tanker, while dodging icebergs, hit a reef outside the shipping lane. The

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).

One of the most reputable resources that Exxon Mobil has today is a strong brand name. Exxon Mobil operates all over the world and is recognized in every part of the world (Datamonitor, 2008). When people all over the world know who a company is, what they do, and where they are located, the company gains a unique competitive advantage over

Exxon spokespersons did not provide enough information and had deficient knowledge about the crisis. Messages were conflicting because most the public statements by Exxon were unreliable and opposing. Exxon's overdue media relations prompted negative publicity. On top of that, Exxon showed no integrated communication between its constituencies, truth be told, Exxon's employees were frustrated by the company's frail structure and lack of preparation during the crisis (Mehta and Xavier, 2012). The public keeps on considering Exxon to be the most outstanding adversary of nature and even years after the disaster has done little to decrease that

Three hundred million, five-hundred thousand dollars would pay for the tuition of around 5,207 students at Texas Christian University. That is around half of TCU's estimated 10,000 student population. ("Schools and Colleges"). The major oil company, Exxon Mobil, will use that much money in response to their factory pollution. Exxon Mobil is one of the big firms that dominates the gasoline industry in the United States. Further, the gasoline industry is an example of an oligopoly, a market with the presence of few dominant firms. This essay will explain Exxon Mobil's pollution case with the United States, Exxon's response to the setback of the recent hurricane in Texas, and how both of these current events connect to the topics covered in the Microeconomics course.