Off-Shore Drilling for Oil

Definition

Off-shore drilling for oil implies the drilling of oil through the crust of the seabed. The process has often been accounted for releasing hydrocarbons, which has formed over the years in the rock formations that have been intended over the years. For many developed nations, such as the infamous United States of America, off-shore oil drilling has become the prime source of their energy independence altogether.

Historical Background

Considering the changes and the challenges that have been intended over the years, off-shore drilling of oil has been an important aspect for nations and countries. Energy is the prime resource these days, particularly for many nations who are investing their energies and concentrating upon the manufacturing and production centre.

The first traces off-shore drilling become visible, tracing back around the year 1891, showing traces of establishment around the Grand Lake St. Mary's, situated in the state of Ohio. Today, as of the last reporting in the year 2010, there are over 620 million mobile offshore drilling rigs, which work on multiple destinations and locations to extract the oil from the seabed (Sharma, pp.331).

With the kind of establishments now being intended and have been under operation and settlement over the years and with technological advancements, it becomes evident that off-shore drilling makes way for progress of countries in terms of energy portfolio.

Effects of Offshore Drilling

Energy is amongst the top four industries around the world. Energy, along with food, pharma and telecom, are four (4) major industries that account up for annual revenues and returns spiking more than $1 trillion dollars.

Hence, industries delivering this kind of potential require constant efforts and strategies that need to be designed and addressed over the years in order to make things work altogether. While the kind of benefits that are being reaped in the light of energy introduction and independence, there are multiple areas and the disastrous effects that are associated with offshore drilling (Nath & Sharma, pp.285).

Destruction of the Marine Life

Considering the realm of energy that exists around us, not only does it make way for companies to intervene into the two prime sources of energy - natural gas and oil - it becomes evident that companies, rather entire countries, are willing to go to any extent and limit, in order to prove their competitive position, thereby intervening and looking into all possibilities to ultimately earn and gain that competitive advantage.

Amongst the most important and the most serious disastrous that one could possibly imagine is the kind of environmental damage and the irrevocable casualties that have come with offshore drilling. To what we and witness every single day around us not only encircles the kind of collateral sabotage that comes with offshore drilling, but it also contributes a fair share of the growing concerns related to global warming.

Considering seabed oil extraction, those that would be immediately influenced and affected by the extraction would be the entire sea kingdom and the ecosystems of the marine life that ...