An analysis of the basis for the crisis of exxon

Posted on June 26, by djwindholz Background Exxon was an oil and gas corporation that descended from the John D.

An analysis of the basis for the crisis of exxon

Clean-up and environmental impact[ edit ] Workers using high-pressure, hot-water washing to clean an oiled shoreline Chemical dispersant, a surfactant and solvent mixture, was applied to the slick by a private company on March 24 with a helicopter.

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But the helicopter missed the target area. Scientific data on its toxicity were either thin or incomplete. In addition, public acceptance of a new, widespread chemical treatment was lacking. Landowners, fishing groups, and conservation organizations questioned the use of chemicals on hundreds of miles of shoreline when other alternatives may have been available.

Clean-up efforts after the Exxon Valdez oil spill Because Prince William Sound contained many rocky coves where the oil collected, the decision was made to displace it with high-pressure hot water.

However, this also displaced and destroyed the microbial populations on the shoreline; many of these organisms e. At the time, both scientific advice and public pressure was to clean everything, but since then, a much greater understanding of natural and facilitated remediation processes has developed, due somewhat in part to the opportunity presented for study by the Exxon Valdez spill.

Both the long-term and short-term effects of the oil spill have been studied.

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The researchers found that at only a few parts per billion, polycyclic aromatic hydrocarbons caused a long-term increase in mortality rates. They reported that "species as diverse as sea otters, harlequin ducks and killer whales suffered large, long-term losses and that oiled mussel beds and other tidal shoreline habitats will take an estimated 30 years to recover.

Exxon Mobil denied any concerns over any remaining oil, stating that they anticipated a remaining fraction that they assert will not cause any long-term ecological impacts, according to the conclusions of the studies they had done: Scientists who have monitored the spill area for the last 25 years report that concern remains for one of two pods of local orca whales, with fears that one pod may eventually die out.

Some of the oil does not appear to have biodegraded at all. A USGS scientist who analyses the remaining oil along the coastline states that it remains among rocks and between tide marks.

Left out, the surface crusts over but the inside still has the consistency of mayonnaise — or mousse. The major part of the money would be spent to finish cleaning up oiled beaches and attempting to restore the crippled herring population.

Circuit Court of Appeals ordered the trial judge, Russel Holland, to reduce the punitive damages. Exxon appealed again and the case returned to Holland to be reconsidered in light of a recent Supreme Court ruling in a similar case. The court of appeals cited recent Supreme Court rulings relative to limits on punitive damages.

Exxon then appealed to the Supreme Court, which agreed to hear the case.

Key points:

Exxon's actions were deemed "worse than negligent but less than malicious. Leahy has decried the ruling as "another in a line of cases where this Supreme Court has misconstrued congressional intent to benefit large corporations.

Attorneys for the plaintiffs contended that Exxon bore responsibility for the accident because the company "put a drunk in charge of a tanker in Prince William Sound. Other plaintiffs have objected to this secret arrangement, [46] and when it came to light, Judge Holland ruled that Exxon should have told the jury at the start that an agreement had already been made, so the jury would know exactly how much Exxon would have to pay.

The state disputed the claim, stating that there was a long-standing agreement to allow the use of dispersants to clean up spills, thus Exxon did not require permission to use them, and that in fact Exxon had not had enough dispersant on hand to effectively handle a spill of the size created by the Valdez.

The company claimed that the Coast Guard was "wholly or partially responsible" for the spill, because they had granted mariners' licenses to the crew of the Valdez, and because they had given the Valdez permission to leave regular shipping lanes to avoid ice.

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They also reiterated the claim that the Coast Guard had delayed cleanup by refusing to give permission to immediately use chemical dispersants on the spill.High gas prices are caused by high crude oil costs account for 72 percent of the price of gasoline.

The remaining 28 percent comes from distribution, refining, and taxes, which are more stable. Exxon Mobil The financial statements analysis reveals that both Year/Ratio ExxonMobil and Royal Dutch Shell have been able to Operating Cash 28, 48, 55, Flows ($ mil- increase their value consistently in the last three years.

An analysis of the basis for the crisis of exxon

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Exxon Mobil Corporation, doing business as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas.

It is the largest direct descendant of John D. Rockefeller 's Standard Oil Company, [2] and was formed on November 30, by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and. Jun 29,  · Kym Robinson Comm Case Study Summary Exxon and the Valdez Oil Spill Background As a direct descendent of John D.

Rockefellers’s Standard Oil, ExxonMobil ranked number one in in America’s largest corporations by Fortune magazine. You gave a thorough analysis of the crisis. I like that you focused on how . Critical analysis on the basis of cash flows Positive cash flows from operations are necessary in a company is to succeed over the long term.

An analysis of the basis for the crisis of exxon

The cash flow from the operating activities is good for both the companies but the ExxonMobil have somewhat upper hand in the absolute operating cash flow i.e. the amount.

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