Key ethical issues the energy industry faces
What is ethics? Ethics is a set of moral principles especially ones relating to a specified group, field or form of conduct. When you apply ethics with the energy industry, things can get very messy. The oil industry is very complicated in general- there isn’t an “environmentally friendly oil company”. However that doesn’t mean that the oil companies can play around with ethics to maximize profits, there are sets of rules they need to follow.
Exxon Mobil is the biggest company in the world. “Being so huge, it has been estimated that Exxon-Mobil is responsible for 5% of world co2 emissions, and yet they are the only oil company that doesn’t recognize climate change.” (http://makewealthhistory.org/2008/03/10/which-is-the-most-ethical-oil-company/ ). The company is facing questions about its clearness on climate change issues coming from a new report that says the company is still funding “climate change denial” groups, a practice that was reported to have stopped.
Exxon Mobil benefits from economic conditions that hurt most American’s struggling to fill up their tanks. 15 environmental and consumer rights organizations are asking Exxon to provide more resources to renewable energy. Exxon responded that it reinvest profits into clean energy, and “reduce global greenhouse gas emissions”. However, Russ Roberts, Exxon spokesman said, “the company believes that pursuing wind and solar power production, as Expose Exxon has put forward, is "not economic to do." (http://www.ethicsworld.org/corporategovernance/corporatereputation.php)