The global energy industry can be described as the summation of all industries that are involved with the production of energy and also the sale of energy this has to do with the exploration, extraction, manufacturing, processing, refining and distribution of energy in different forms it applies to the petroleum industry, the natural gas industry, coal industry , electric power industry , nuclear power and renewable energy ( renewable energy is the form of energy that has do with solar power , wind , hydro etc in the modern day the most used form of energy is the petroleum energy people need to fuel their cars for day to day use not only for cars but for trains , planes and other forms of transportation that require the use of petrol . In the world today the energy industry plays a big part in the infrastructure of most if not all countries however renewable energy is on the rise with production of electric cars like tesla the world is starting to become aware of the negative externalities of the production of oil by large corporations like , Shell, BP, EXXON , etc As a result of all the negative externalities in the global energy industry renewable energy and natural gas will be sort after more by 2040 (world energy outlook, 2016)
The global energy sector this report would be looking at will be the oil and gas industry more specifically the company being used is royal dutch shell otherwise known as just shell, the company royal dutch shell was established in the year 1907, the company focuses on the exploration of crude oil, natura...
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...a more preferred form of energy, it is cheaper , cleaner , and also more beneficial for the environment , oil and gas resources are being depleted as they are not renewable resources meaning in the future it will lapse and people will be left looking for the best alternative
In conclusion the oil and gas industry will start to have a decline in oil prices which is already happening, there is too much oil being produced in the world and this making oil prices drop, the oil being produced is also leaving a negative impact on the environment and also people living in the areas were the oil is being produced , they can not fish or eat anymore because their waters have been contaminated with oil spills and also their lands can no longer grow crops .
Policies have to be put in place and also restrictions to prevent corporations from drilling carelessly
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