Offshore-Drilling Regulations Snagged by Climate Fight

This article explains the a new dilemma in the energy industry. Offshore drilling can cause much damage to the environment because it can cause displacement for aquatic life and can damage ecosystems. The government, specifically the Obama administration, wants to regulate offshore drilling because of these negative effects. However, the energy industry, along with some Democrats, feel that with stricter regulations on offshore drilling, many jobs would be lost. They argue that this would hurt the already damaged economy.

Out of this debate, rises the issue of what to do. Should the government push their stricter regulations on offshore drilling companies risking a possible hit to the economy? Or, should offshore drilling be left lightly regulated and be allowed to continue to damage the environment? Companies have responded in different ways. A company known as Minerals Management Service plans to give in to the new regulations and implement them by the end of October. Other companies, such as BP, have not responded so positively. With their recent involvement in the oil spill in the Gulf of Mexico, economically, BP cannot afford to be hit with tighter regulations. This ethical dilemma has not yet affected consumers because the regulations have not been pushed. However, if these stricter regulations do go into affect, they will push the prices of oil up. This means that consumers will be able to see the effects in an increase in gas prices. They will also see effects if these regulations are not pushed. They will see ecosystems crumble. While this is detrimental to the organisms that live in these environments, it will also impact the seafood industry. For example, the recent BP oil spill had a huge negative impact on the oyster industry.

Minerals Management Service is an example of a company who has taken corporate social responsibility to heart. They are not just worrying over losing profit over these stricter regulations. They are working to not harm the environment, even if that means spending more money on these new regulations. They have shown their commit to protecting the environment with their actions in implementing these new regulations.

Exxon Mobil is a key player in the industry. Their CSR involves education, environment, public health, human rights, and public policy. On their website, they state that they believe in creating a positive and lasing social impact by developing successful partnerships built on mutual trust and respect. Their mission statement says that Exxon Mobil is committed to being the world's premier petroleum and petrochemical company. They must continuously achieve superior financial and operating results while simultaneously adhering to high ethical standards. This mission statement shows that Exxon Mobil is committed to high ethical standards while achieving their goals.