Is It Time To Pay For Oil Giants?

There is no novelty in the fact that big oil companies cause a lot of damage to the environment;however,it seems they should be more careful from now on,otherwise they might pay a heavy price.This could be the case of a huge company responsible for pollution in Nigeria. Oil is undoubtedly a resource which is indispensable to the world economy and to the progress of mankind;its sometimes more precious than gold and for this reason people look for
it and extract it out of the bowels of the Earth or the sea,wherever they discover it.Unfortunately,in many cases the extraction of oil also generates big problems for the environment and also for the people who live in the areas which are affected by pollution,and those consequences can become catastrophic in the case of huge oil spills,usually caused by the neglicence of the employees of giant oil companies.In these unwanted instances,those responsible for the devastation of nature and for ruining the lives of millions of people should pay a really heavy price(although Im sure there is no way to compensate the death of thousands and thousands of birds and fish caused by massive oil spills for example). Such cases in which oil companies had to pay heavy compensation for the damage they caused were extremely rare,mainly because they have a lot of power and political influence,especially among the governments of poor countries which allow them to exploit their natural resources unscrupulously and with little concern(if any)for the environment.However,it appears that there are exceptions in countries in which there are politicians brave enough to confront these companies and force them to pay compensations.The mos recent case is that of Nigeria,a country whose parliament might enforce a $5 billion dollar fine for a huge oil company for a massive oil spill which affected the Niger Delta,thus ruining the lives of the

locals whose main way of earning their living was represented by fishing.It seems that the fine is also supported by Nigerian president Goodluck Jonathan,whose influence may be crucial not only for giving a fine to that company,but also in passing a law that will impose heavy restrictions on those oil companies and force to pay in case they cause destruction. It is great to hear that there is a country in which politicians are concerned about the environment and are willing top do the right thing,but it appears that oil companies also have allies among the members of the Nigerian government and parliament.This is where the voice of the ordinary people can be heard and make the difference;as in other cases I wrote about in my previous articles,I found out about this issue on Avaaz,an organization which gives everyone the chance to express their worries and create campaigns that can get global support.As usual,I signed the petition addressed to the Nigerian Parliament to fine that company and support that law,and Im convinced that many people from around the globe will do the same and the target of one million signings desired by those who created the petition will be achieved and thus convince the Nigerian parliament to take the right decisions. Do these campaigns really work?I think they do,and they can really make a big difference by forcing oil companies in investing more of the immense profits into the safety of their infrastructure,which is in many cases old and poorly maintained.If the oil giants see that the price they have to pay is extremely high if they damage the environment,they will definitely be much more careful with their actions.In the end,I can only say good luck to Mr.Goodluck Jonathan and the honest Nigerian politicians and hope that they will make those historical steps that will prove beneficial for Nigeria and will set an example to be followed by many other countries


Article Written By FAREED SIDDIQUI

I am an Individual Member of Institute of Management Consultants of India. I am a Professional with a high creative capability based on Business, Management, Financial Accounting, Management Accounting, Finance and Management Consulting Field. I impart part time training and development programs. I write professional articles on business & management, business English and Software Engineering.

Last updated on 27-07-2016 55 0

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