Munich Personal RePEc Archive

Do not ask what you can do for the oil industry but what can oil indutry do for you

Paunić, Alida (2005): Do not ask what you can do for the oil industry but what can oil indutry do for you.

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Abstract

Strong more than doubled crude oil price rise from 2002 to 2007 brought significant profits to oil companies worldwide. Rising revenues, profits and increasing shareholders wealth are consequence of this favorable situation. Being non renewable resource, unequally distributed, responsible for many crises, wars, environmental pollutions, weapon trading, GDP fall, rising unemployment, interest rates and reaching its peak production point in the world of increasing gasoline demand, higher environmentally standards, global worming, natural catastrophes, constrained refining capacity forces us to ask: is the rising wealth to small number of shareholders only we should expect?

Paper examines oil companies and their contribution to promote social developments, clean energy, behave as good tax subject , closely work with government and various institutions to advance environmentally friendly world.

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