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石油工业历史的主要问题
毫无疑问，石油工业的存在已对历史产生了重大影响。本文旨在分析和讨论石油工业历史的一些主要问题。这些措施包括在20世纪内发生的石油供应国有化，欧佩克（石油输出国组织县组织）在国际经济中的重要影响，不断增长对石油的依赖和替代能源对全球经济的影响。随着行业的未来发展，SWOT在石油行业的分析也出现在这个案例研究中。
首先，在1999到2000年间，各国政府恢复石油工业的所有权状态，这在石油工业国有化的发展史上确实是具有重大意义的时刻。收购背后的主要动机是经济和政治。1917年，墨西哥的宪法保护了石油的国家所有制。然而，该国（墨西哥）缺乏必要的资金和技术创新，来推广和发展自己的石油工业。1950年到1976年期间，其他主要产油国如伊拉克，科威特，卡塔尔，委内瑞拉和沙特阿拉伯也实行了石油工业的国有化，来保护国家利益。
Major Issues In The Petroleum Industrys History Economics Essay
There is no doubt that the petroleum Industry has made a major influence in the history of its existence. This paper seeks to analyze and discuss some of the major issues in the history of the petroleum industry. These include the nationalization of oil supply that occurred within the twentieth century, the major impact of OPEC (Organization of Petroleum Exporting Counties) in the international economy, a brief history of the growing dependence on petroleum and the impact of alternative energy in our global economy. A SWOT analysis on the petroleum industry along with the future of the industry is also presented in this case study.
To begin with, the nationalization of oil industries was indeed a significant moment in history which occurred between the periods 1900 to 2000. Governments restored ownership of oil industries to the state. Their main motives behind the acquisition were both economical and political. Mexico protected state ownership of its oil in the constitution of 1917; however the country (Mexico) lacked the required capital and technological innovation to promote and develop their oil industry. Other main oil producing countries such as Iraq, Kuwait, Qatar, Venezuela and Saudi Arabia nationalized their petroleum industries within the period 1950 to 1976. This was seen as a move to protect national interest. The practice of energy nationalism stems from major increases in oil prices on the global market.
Another major influential force in the history of the oil industry was the emergence of OPEC (Organization of Petroleum Exporting Countries) in 1960. OPEC which comprised of oil producing nations like Arab, Iran, Iraq and Venezuela exerted its premier influence in 1973 by imposing drastic price increases from $3 a barrel to $11.75. Since then OPEC has been able to maintain control over the production and supply of oil. Indirectly, OPEC maintains control over the prices of oil and gas. Its implication on the global economy is obvious. The norm of creating artificial shortages lead to prices increases ; this in turn will adversely affects people’s spending as it has before. The period between 1995 to1996 experienced continuous increases in demand for fuel, supported by fast growing economies of Asia and other third world economies. The year 1996 recorded its highest increase ever of 3% in world energy from the last highest growth rate in 1988. The global petroleum utilization also increased by 2.4% within the same year.
Nevertheless, prices began to decline after 1997; each year petroleum businesses were seeking to replace utilized energy reserves through new oil field findings. However new technological developments helped to solve the issue of replacement by prolonging the life of oil fields in the same period. This period also witnessed the major oil companies competing with independent petroleum companies on almost every vertical level. It appeared that the oil companies who were vigilant reacted faster to opportunities and to attained superior performance.
Within our modern economy, it has become apparent that Mexico’s oil reserves is rapidly depleting. The decrease in oil production is evident at other flourishing fields in Mexico, such as Cantarell (an offshore field) in the Gulf of Mexico. According to an article published in the San Francisco Chronicle, “Like much of Mexico's giant oil production apparatus, this area, known as the Bellota oil field, is in an apparently unstoppable decline. At current extraction rates, the nation has only 10 years of proven oil reserves remaining.” (San Francisco Chronicle, 2006) The future of Mexico’s state owned petroleum industry has raised concerns about the country’s lacks of resources to end the decline, which in turn will create additional pressure on the world wide supply of petroleum. This will also adversely impact the domestic market of Mexico.
As a result of all these oil crises mentioned above, there is a movement or an initiative to adopt both more cost effective and cleaner energy sources. Global Conferences are therefore held to discuss the approaches on the way forward. In the 2009 Copenhagen Conference, members of the UNFCCC (United Nations Framework Convention on Climate Change) got together on a governmental level prior the climate agreement need to be changed. Some of the major issues discussed are the prevention of climate change and global warming, emissions cuts, considerable funds to deter deforestation (conservation groups believed that this area needs to be safeguarded), collective and committed pooling of finance by developing economies to nurture the needs of developing countries, a due date for a treaty to form an official and legally binding treaty and a endeavor to replace Kyoto which actually a procedure to be taken to put a stop to climate changes and global warming.
Petroleum industry was one of the earliest global commerce that has made a major impact in practically every area of business, geopolitics and economics during or over the past 100 years of its existence. The products of this industry have changed the way we live. People all over the world use it in their daily lives. From switching on a light bulb to driving a motor vehicle, energy surrounds us all; oil is indeed a major source of energy used in our everyday living. The refinery process allows the creation of more useful oil products such as fuel, asphalt base, kerosene, and heating oil. The importance and uses of crude oil has certainly grown over the century of its continuance. The discovery of its (crude oil) various uses has attracted many investors to venture into the industry for the purpose of reaping huge profits (investors realize the potential to reap huge profits). Hence, the efforts invested in manipulating and securing the rights of entry to oil supplies and markets were the primary contributors to the global conflict during the period of 1900 to 2000. The industry as depicted in the case used their Strength, Weakness, Opportunities and Treats to combat economical, political, and environmental crisis. Provided Hereunder just a few ways in which the industry survives in this global era.
Strengths
In this ever changing world we inhibit, companies/industries need to build on their strengths to remain competitive in this global era. The case depicts industries that have used its strengths to develop strategies that would generate profits to sustain them on the market. It is observed that the industry’s strength came from alliances and joint venture. It seems that it was the only way in which industry could have participated in certain markets. For example India restricts equity participation by foreign firms in local operation to 40%. In addition, almost all important oil and gas fields were handled through joint ventures. This gave the industry leverage as they were able to have quicker access to other countries. For example there were pipelines running from fields in the North Sea to landfall in the United Kingdom. Joint ventures also became popular as a mechanism to rationalize downstream activities. The Organization of Petroleum Exporting Countries, which originally stated with the Arab oil producers plus Iran and Venezuela, used joint ventures and mergers to combat pricing crisis. For example, during the 1990’s, pricing crisis was averted at the beginning of the decade on the outbreak of hostilities in the Middle East, when a sudden steep rise in prices on panic-stricken markets was moderated by output increases from OPEC Members. Prices somewhat remained relatively stable until 1998, when there was a collapse, in the wake of the economic downturn in South-East Asia. Collective action by OPEC and some leading non-OPEC producers brought about a recovery simple by creating mega mergers among the major international oil companies in an industry that was experiencing major technological advances. The demand for oil currently will continue to rise especially with nations such as china and India in the process of wide-scale industrialization. It is acknowledge that when demand is high and production is not increased, prices rice. OPEC’s Strength therefore lies among the different oil production countries that together set production levels, thus, by controlling production the organization has a direct affect on the prices countries pay. The industry’s strength depicts monopolistic characteristics because most of its products and services are not offered by other industries; therefore, it will be difficult to compete against the industry. For example, the use of heating and electrical energy, these two products are in great demand in the market and can only be provided by oil companies. In an event where there is a shortage of finances among consumers, the need for these products, among all other related ones (gasoline, plastics, etc.) are so great, that investments in the market are guaranteed, therefore achieving a profitable market, and thus giving room for collaboration within the monopoly. Commodity future markets allow commercial producers and commercial consumers to offset the risk of adverse future price movements in the commodities that they are selling or buying. In addition, strength of the oil industry is the ability of the industry to utilize the primary product i.e oil to produce secondary products. Most industries are not these opportunity hence if their primary product fails then their industry fails. The oil industry can use these secondary products as a financial support mechanism to primary products. |
