Oil Industry Ethics

Paper Summary:

The paper relates that oil and gas suppliers have been accused of misconduct with regards to ethical accountability and moral decision-making. The paper explores these issues by using Imperial Oil, a fictitious company, as a framework for identifying the terms of the social contract held by petroleum companies. The paper provides three specific policy recommendations for Imperial Oil on which to base their future transactions. The paper concludes that the ability to wield power due to increased reliance on the resources of oil and natural gas does not absolve the company of its role within the social contract.

Outline:
Introduction
Controversy Over Business Practices Within Petroleum Companies
Stated Morality and Ethics Versus Active Business Decisions
The Demand For Accountability
Three Recommendations for Imperial Oil
Summary

From the Paper:

"Petroleum companies have historically been recognized as entities that are not subject to the same processes of supply and demand as denote other industries. Wherein it can be argued that suppliers of housing and food products are suppliers of resources necessary to sustain the lifestyles of the average citizen active in the industrialized world, petroleum companies tend to be separate entities altogether. These companies form a dominant controlling force that establishes certain and undeniable limitations on how buyers are able to maintain a status of equilibrium within their respective business and lifestyle practices; without access to petroleum, affected persons and businesses are unable to participate in the same petroleum-dependent environment experienced by the rest of the population."

Sample of Sources Used:

• Bahree, B. (2006). Oil surges amid geopolitical jitters: Iran's standoff with West could roil World markets for much of coming year. Wall Street Journal. Wednesday, 20 January. p. A2.
• Barnes, J., Hayes, M. H., Jaffe, A. M., & Victor, D. G. (2006). Introduction to the study. In Natural Gas and Geopolitics: From 1970 to 2040 (Ed. D. G. Victor, A. M. Jaffe, & M. H. Hayes). Cambridge (UK): Cambridge University Press.
• Bullard, R. D. (2005). The Quest for Environmental Justice: Human Rights and the Politics of PollutionNew York: Sierra Club Books..
• Canada and the World Backgrounder. (March, 2000). Energy ethics. Author. Retrieved 3 September 2006 from http://findarticles.com/p/articles/mi_qa3695/is_200003/ai_n8881896
• Dethomasis, L. & St. Anthony, N. (2006). Doing Right in a Shrinking World: How Corporate American can Balance Ethics and Profit in a Changing Economy. New York: Greenleaf Book Group.

More papers on Oil Industry Ethics:

• Analytical Essay # 112675 : "Oil Companies Being Ethical"
• Term Paper # 93004 : "Ethics and the Auto Repair Industry Table of Contents:"
• Term Paper # 114681 : "Marketing Challenges of Greening Automobiles"

APA Citation:

MLA Citation: