The ethical of Exxon Mobil Company Elonna Toussaint Monroe College Abstract In this paper you will learned about a company named Exxon Mobil. That company was founded by John. D. Rockefeller and partners. The company was established in 1870. As you start reading first paragraph, you will see how their hardworking skills made the Standard Oil controlled 95% of the US refining capacity by the year of 1878. As you read further you see how they almost ruined their reputation because they misled
resources to work on alternative energy sources. Whether it is hydrogen or electricity, they can reap both the financial and humanity rewards. For Exxon to end with oil would be a tremendous blunder. Exxon is not a company that needs to worry about competition. In the oil industry it is all about raw materials. The more a company has the more control they have. Exxon also has no need to be concerned with competition because gas is gas. No one is going to pay a dollar more for Exxon’s gas than Texaco. Another
Prior to the year of 1999, Exxon and Mobil were the two largest American oil companies, which were direct descendants of the John D. Rockefeller’s broken up Standard Oil Company. In 1998 Exxon and Mobil signed an eighty billion dollar merger agreement in hope to form Exxon Mobil Corporation, the largest company ever created. Such a merger seems astonishing, not only because it reunited parts of Rockefeller’s Standard Oil Company, but also because it would be extremely difficult for the Federal Trade
Exxon Mobil 1. Exxon Mobil's nature of business is a natural haven for criticism; reporting record profits for 2005 only added fuel to the fire so to speak. The topic of nearly every conversation around the country had something to do with how much people were shelling out at the pumps or how the cost of most consumer goods was increasing a rate never experienced before; Exxon Mobil's feat did nothing but bring negative attention to the firm. However, Exxon Mobil knew that their profits wouldn't
Exxon and Mobil Exxon and Mobil were two big competitors in the oil industry. In the 20th century, Exxon and Mobil operated with relatively low-price, and in low-margin environments. The market in the United States and Europe have grown and matured, allowing them both to grow with great success. The competitiveness has tightened worldwide in the crude oil business. Both companies have continued to advance new technologies, introducing new marketing innovations. They have extend there reach into
Exxon Mobil Corporation was incorporated in the State of New Jersey in 1882. Mr. Rex W. Tillerson is the current CEO, Director and President of ExxonMobil Corporation. He was appointed Chairman of the Board and Chief Executive Officer on January 1, 2006. According to Annual Report Form 10-K, Mr. Tillerson still carries these positions. Exxon Mobil’s nature of business is “energy, involving exploration, form and production of, crude oil and natural gas, manufacture of petroleum products and transportation
Introduction: We have been engaged to audit the financial statements for Exxon Mobil Corporation (ExxonMobil) and assess the effectiveness of their internal controls for the fiscal year ended December 31st, 2010 in compliance with the laws of the state of Texas and the standards set forth by the Public Company Accounting Oversight Board (PCAOB). In the previous memo sent, we outlined the client’s high inherent risk due to the account balances and transactions, foreign currency translations and the
ExxonMobil is a multinational oil and gas company with its headquarters offices in Irving, Texas. It was formed in 1999 through a definitive agreement between Exxon Corporation and Mobil Oil Corporation to merge and create a new company. In essence, the corporation produces, distributes and sells oil and natural gas across the world. The structure and culture help it survive the price burst which often occurs in the global oil market. Notably, among its largest competitors, ExxonMobil generates high
In the early hours of March 24th, 1989 the oil tanker Exxon Valdez struck Bligh Reef in Prince William Sound, Alaska, spilling more than 11 million gallons of crude oil.This accident was devastating for the environment and the eco-systems surrounding the incident. There were many parts leading up to this disaster which made it sound almost inevitable to occur. With it being called a man-made accident because of the captain being intoxicated during the event, it feels like there was more behind the
EXXON MOBILE: HISTORY AND BRIEF OVER VIIEW OF BUSINESS OPERATIONS Exxon Mobil is a great example of a corporate giant. It all started in 1870, when JD Rockefeller founded U.S. Standard oil a company that will go on to be the most profitable in the world. In 1911 the company split up into 34 different companies, amongst these companies was Vacuum oil company that will later be called Mobil Oil and Jersey Standard which was renamed to Exxon corporation. In 199 the two companies decided to work together
that FE should have to pay any fines for the blackout but I do think that they should have to pay for the damage claims. In 1989, Exxon Valdez had a hole punctured in the side of its hull. It spilled about 24 million gallons of oil into the Prince Williams Sound. They were fined over 150 million dollars and settled damage claims. I think they did so rightly. Exxon Valdez did not follow the right regulations and did not reinforce their hulls like they should have. When the spill happened,
Four minutes past midnight on March 24 of 1989, a disaster that would have major effects lasting to this day took place. The Exxon Valdez crashed into rocky reefs while carrying millions of gallons of oil, releasing 11 million of them into Alaska’s Prince William Sound. The tragedy had a huge impact on both marine wildlife and humans, but the biggest problem was going to take the effort of thousands to solve- how were they going to clean up the spill? The usual method of cleaning an oil spill would
Abstract: The purpose of this research paper was to investigate the news media’s depiction of the 1989 Exxon Valdez oil spill. The coverage provided by the newspapers was compared to that of scientific journals to access their validity and insight. The reactions the coverage evoked on the public were also studied. The paper specifically addressed the media’s portrayal of the oil company versus that of environmental groups. It was found that the news media did not include the benefits the oil company
Exxon Valdez Oil Spill According to an online article from Thought Company, the 1989 Exxon Valdez oil spill polluted the waters of Prince William Sound, coated more than a thousand miles of pristine coastline and killed hundreds of thousands of birds, fish, and animals. This crisis has become a symbol of human-caused environmental disasters all over the world. Many years after the accident, and despite billions of dollars spent on cleanup efforts, crude oil can still be found under the rocks and
On march 24, 1989, the Exxon Valdez hit a reef called Bligh Reef, severely damaging the ship, and rupturing eight out of the eleven holds. The third mate increased the damage of the ship by trying to break free of the reef, but this only did more damage to the ship causing more oil to spill out than before. This was the cause of human error, and if not for the carelessness of the captain, and the inexperience of the third mate, the ship would have never hit the reef. The captain should have stayed
needs to understand the difference between right and wrong. Since businesses touch such a large segment of our society, codes of ethics must be established and followed to protect the general public. In the following pages we will discuss the 1989 Exxon Valdez oil spill disaster and examine how it relates to (1) the state of business ethics since 2000, (2) examples of the classic schools of ethics - golden rule, golden mean, utilitarianism, and categorical imperative, (3) three challenges journalist
Most people believe that one man-made natural disaster would teach us to be better, but we have learned that history repeats itself. The Exxon Valdez oil spill (in 1989) and the Deepwater Horizon oil spill, or BP oil spill, (in 2010) were both devastating oil spills that shocked the nation. The Exxon Valdez oil spill occurred due to a tanker grounding. The BP oil spill was caused by an explosion on the Deepwater Horizon oil platform. These two oil spills were both disasters and had greater effects
Exxon Mobil Exxon Mobil is listed as one of the worlds largest fortune 500 companies according to Fortune Magazine, 2006. Because of its size, I became interested in this company for my research paper on corporate social responsibility. Exxon Mobile has a rich history that dates back to 1859. It all started when two individuals drilled an oil well in Pennsylvania. In 1870, Rockefeller and his associates formed the Standard Oil Company. Many businessmen, such as Thomas Edison and the Wright Brothers
company’s operations. However, in some cases it is ok to have a negative working capital. Companies that operate with a negative working capital tend to be more adaptable when it comes to raising cash than companies with a positive working capital. Since Exxon Mobil Corporation is the 5th largest company by revenue, it is clear to see that they don’t have a problem making money. Maybe that is the reason why they operate the way that they
other hand if an in-house source is used then there will be no market variation and the supplier can not impose any unfavourable conditions. Due to this reason in November 1999, Exxon Corporation and Mobil Corporation, two of the largest petroleum and petrochemical companies merged to form the Exxon Mobil Corporation. Today Exxon Mobil explores for and produces oil, natural gas and coal in 49 countries around the globe. It sells fuels in over forty thousand service stations in one hundred and eighteen