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Environmental Risks in the Oil and Gas Industry

The case is mainly related to the standards of the oil and gas industry which tend to adapt the safety procedures and the processes. This is primarily to handle the environmental impact with preventing all the disasters primarily from their occurrence. For this, the first oil spilling is gained through the widespread attention in the US, with the spilling of the Exxon Valdez. Here, the forms are set with the liability and the responsibility of the oil which is then divided into the later part of the accident on DeepWater Horizon Ride Managed by the BP-led. (Gregersen et al., 1998). The analysis is based on the environmental risks with the standards to meet the examination of the specific cases of the stakeholder. Here, the responsibility is mainly to not complete without any consideration based on how oil and gas companies can improve and safeguard the interest to protect the environment catastrophes. It has been seen that in the case of the Wreck of the Exxon Valdez which is of the form where there is no licensed to the pilot for the vessel through the waters of the Prince William Sound. The Coast Guard mainly claim that Hazel Wood is ignored with the warning that rocks the ship which leads to the worsened situation of the oil spill. (Haushalter, 2000). It is mainly spread rapidly with killing many people and the sea birds, otters, and the other wildlife. Hence, for this, there are other abundant standards which include the forms of the fishing industry with the derived forms of the annual sales of $100 million. 

This is based on the management by keeping the environment as well as the safety at a higher level. It includes the safety of the environment which will also help in reducing the chance of any leakage of the oil, spills and the explosion. With this, there is a factor that it will not only affect the community and the public along with hamper the reputation and the public pressure needs to be dealt with. (Birkeland et al., 2013). The management of the ethical risks is based on the economy with the business that is based on providing the safety and the healthy working conditions. For this, the ethical processes are based on the core values of respect and the responsibility, with exemplary behavior that covers a better focus area. There is a failure in the upload of the human rights with the non-compliance patterns with the competition law or the tolerance. The power is set which can also damage the reputation of the company, thereby, undermine the confidence of the investor and impact the relationship with the stakeholders. There are certain risks which are related to the BP, Exxon and the fracking industry that continue to face the adequate supply of the energy with the leakage and the spilling. There are hazards related to the demonstration of the risks of the hydraulic fracturing. Most of the companies tend to fail to provide the complete evidence with the assurance of the shareholders as well as the public steps. It works on the protection of the communities and the environment where there are certain adverse effects due to the hydraulic fracturing. 

Safety Processes in the Oil and Gas Industry

The oil and the gas fracturing operations are based on the intense scrutiny measures that tend to be a potential harm mainly to the neighboring communities and the environment. This comes from the air and the water pollution with increased noise, traffic, and the crime. Here, the companies are also not able to track the potential problems which are difficult to demonstrate to the investors and the regulators as well. Hence, for this, it is important to check on the ways where the efforts are based on adoption the best practices with the major impact on the community and the environment.

There are risks related to the forms where there are a leakage, spilling and the explosion in the system. One has to deal with the customers with the focus on the reputation of the people with the buying of the oil. (Mearns et al., 2009). There is a major loyalty of the BP customers who have been out for the spilling harming the oceans. The standards are set to switch to the shell oil mainly due to the gas which is not completely harming the environment. The deal is based on the political and the financial risks where the activists tend to work on bringing the pressure on them. The example is the National Resource Defence Council where the financial risks are about the money one tries to spend for the repair. Here, there are certain cleaning up of the oil spills which could have been avoided and the money would be used for a better purpose.

The stories are based on the accidents which are set to design, operate and manage the ways with the lower accident rates. The forms are set without major reduction of the profits of the long term. There are flaws in the safety culture of the organization which is set for the shared values and the norms. (Haushalter, 2000). The forms are set with the conditions which include the decisions based on the culture of denial as well as the other arguments which are dangerous than the others. For this, there is a need to focus on the price of productivity which cannot easily be eliminated. The example is the dysfunctional safety culture that can be identified. Hopkins are coined to be the term with the Culture of Denial to describe the industries or the organization where the risk assessment is found to be unrealistic without any major appropriate actions. The management needs to focus on different conditions with improved safety or the accidents that are for the productivity pricing that could not easily be eliminated. (Shuen et al., 2014). The State Tesoro Oil Refinery explosion and the Deepwater Horizon includes the oil and industry which are risky than the others. Hence, for this, there is a lack of the real commitment to the safety which is set by the leaders. One needs to manage the commitment where there is a major factor based on the organization with higher and the lower accident rates. The non-existence is not followed with the management of the changing procedures, and so it is important to focus on the changing designs for the safety.

Ethical Leadership and Risk Management

The examples of the risks are the health, safety and the environmental risks with the dangerous working environment that works on the possibilities of the leaks, spills and the explosion.

The ethical leadership could help in the management of the risks with the environmental risks that are set with the organizations. For this, there are forms where the organization could easily stand and mainly speak of the problems which are necessary to focus. The gaining of the trust from the public back with the responsibility of the higher and the lower level positions could be one of the issues where there is a need to manage the risks as well. The risks could be managed with the cultural responsibility and transparency that is set on the higher and the lower level poisonings. (Spence, 2011). Here, the environmental factors are for the risks management with an easy membership of the organization like IPIECA. The safety and quality management is important to the government that might be ending. Here, the forms are set with the system component with oversimplification process that can work on the controlling the use of the dangerous financial instruments. The components are set with the decisions about providing the control actions with the controlled process. Here, the control decisions are also influenced with the social and the environmental contexts that work on understanding the pressure and the influence of environment. (Witter et al., 2014). Here, the losses occur when there is a control structure that could not be able to enforce any form of appropriate behavioral safety to prevent the hazards. The discussion is about the consideration to prevent the accidents along with controlling the structure which is likely to change with time. It also weakens the safety controls where the common measures are to set the risks with the decreased forms of the periods of time. Here, the migration is mainly towards the states of the higher risks that occurs at the time of the financial and the competitive pressures. The controls are also established to prevent the detection with the migration that has been occurred.

Conclusion

The work is mainly on the oil spill and the gas companies which are socially and politically complex as it has been complex. There have been last two decades that have been seeing in the oil and the gas industries by making the great strides mainly towards the doing of the business in a more sustainable manner. For this, the social responsibility is important to work with safety and quality management. (Yusuf et al., 2014). The corporate risks of the culture are based on the restoration of the reputation. Here, the employees need to be educated with the forms of the responsibility for mainly displaying the leadership and avoiding all the misconducts that could lead to the creation of the accidents. Nature is based on the risks and the plans about the hydraulic fracking which can use the lessons from the predecessors. It works in the industry to hold the responsibility along with leadership in safety and the sustainability growth. 

References

Bergh, L.I.V., Hinna, S., Leka, S. and Jain, A., 2014. Developing a performance indicator for psychosocial risk in the oil and gas industry. Safety science, 62, pp.98-106.

Birkeland Nielsen, M., Eid, J., Mearns, K. and Larsson, G., 2013. Authentic leadership and its relationship with risk perception and safety climate. Leadership & Organization Development Journal, 34(4), pp.308-325.

Boyer, M.M. and Filion, D., 2007. Common and fundamental factors in stock returns of Canadian oil and gas companies. Energy Economics, 29(3), pp.428-453.

Gregersen, H.B., Morrison, A.J. and Black, J.S., 1998. Developing leaders for the global frontier. Sloan management review, 40(1), p.21.

Haushalter, G.D., 2000. Financing policy, basis risk, and corporate hedging: Evidence from oil and gas producers. The Journal of Finance, 55(1), pp.107-152.

Mearns, K. and Yule, S., 2009. The role of national culture in determining safety performance: Challenges for the global oil and gas industry. Safety science, 47(6), pp.777-785.

Shuen, A., Feiler, P.F. and Teece, D.J., 2014. Dynamic capabilities in the upstream oil and gas sector: Managing next generation competition. Energy Strategy Reviews, 3, pp.5-13.

Spence, D.B., 2011. Corporate social responsibility in the oil and gas industry: The importance of reputational risk. Chi.-Kent L. Rev., 86, p.59.

Witter, R.Z., Tenney, L., Clark, S. and Newman, L.S., 2014. Occupational exposures in the oil and gas extraction industry: State of the science and research recommendations. American journal of industrial medicine, 57(7), pp.847-856.

Yusuf, Y.Y., Gunasekaran, A., Musa, A., Dauda, M., El-Berishy, N.M. and Cang, S., 2014. A relational study of supply chain agility, competitiveness and business performance in the oil and gas industry. International Journal of Production Economics, 147, pp.531-543.

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[Accessed 22 February 2024].

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