Oil Use in Latvia

Executive sum-up

Oil as a natural resource is widely used across the universe in fabricating other of import merchandises. United oil in Latvia is one of the taking companies in the industry of oils and other petroleum merchandises, which is located in Baltic part. The company was set up in 1994, and for about 20 old ages, this company is celebrated and good known when it comes to the production of oils, petrochemicals, lubricators and dozenss of oils. The usage of oil has increased in Latvia, and this is the ground for high production. However, it is of import that the company realizes the jobs created by the industry of oil and the impacts that oil has to the environment. Example, development of oil has both economic and societal jobs to the society. In add-on, it is besides of import to understand the positive consequence that oil has on the society in footings of trade and economic development. The most of import portion is the company to understand the positive and the negative consequence that industry of oil goes through before the concluding merchandise. Oil production is connected with emanation of pollutants and other volatile organic compounds like methylbenzene, xylols and benzine into the ambiance. The most unsafe portion is that exposure to these compounds has important consequence to the wellness of people such as ; annoyance of the eyes, respiratory system and tegument.

Overview of the subject

• It is of import that Latvia understands oil is a natural resources, which is at hazard of development. The usage of oil production of oil in Latvia has been on addition due to its major applications in the part.
• However, the usage of oil has been influenced by engineering such as transit, domestic usage, and other contraptions in the state. As a consequence of increasing utilizations of oil and the increasing demand, oil has become one of the trading resources in Latvia. This is because there is an available market for this merchandise.
• The usage of oil in Latvia has been increasing for the past 10 old ages. However, the usage of oil was high in 2012 and 2013. The following tabular array shows how oil was used in different sectors Latvia.

• However, the ingestion of oil sometimes remained stable, until the industries like agribusiness, fishing, conveyance were expanded. Initially, the size of these industries merely used a little sum of oil.
• The domestic usage of oil has been worsening over the old ages, while the usage of oil in other sectors has been bettering.
• In 2011, the production of oil reduced significantly in the company. As a consequence, about the whole sum of oil used that twelvemonth was imported due to deficits.
• Oil has besides shaped Latvia concern in many ways that resulted to the enlargement of the market.
• In 2013, Latvia joined Eurozone, which will assist in economic growing.
• The production of oil in Latvia has besides resulted to enlargement of concern in Latvia.
• The fact that Latvia trades with other states, this has expanded concern dealingss with other states like Russia.
• It is of import to observe that Latvia depends about 100 % on imported oil, which is imported from Russia.
• Russia has been the chief manufacturer of oil for many old ages, and imports a big per centum of oil across the universe.
• In Russia, oil is found in most parts like Western Siberian. However, the worst portion is that these parts have been exploited from 1970s.
• As a consequence, the production of oil has reduced to 1/3 of the original oil produced. The development of resources has influenced the economic system both socially and economically. This includes deficiency of occupations and decrease of the GDP that affects the growing of the economic system. On the other side, the development of oil agencies that the production reduces significantly. Therefore, the monetary values of oil became significantly high in Latvia, which increased the cost of production in companies and the cost of merchandises. Additionally, high monetary values are besides a major cause of high criterions of life.
• Further, the development of resources has besides caused environmental effects like pollution.

Key Wordss

• There are several words that will be used to depict the findings in this undertaking. These words include ;
• Pollution- This is a term that will be used to depict the effects of oil to the environment
• GDP- this will depict the consequence that oil has on Gross Domestic Product
• Cost of living- This will specify the effects that oil has on life conditions in Latvia
• Production cost- This term will depict how oil has influenced the cost of bring forthing other merchandises.
• Exploitation-This will specify the badness of oil usage, which will specify how the beginning of oil has been utilized.

Findingss

The industry of oil has existed in Latvia for many old ages. The job is many states produce oil without recognizing the consequence that oil has to the environment. In add-on, other companies are non cognizant about the importance of prolonging natural resources to avoid development. In most instances, there has been development of resources where resources are over utilised in many states. The ground for development is that these states concentrate on doing money without believing that they should prolong the environment. Oil is one of the natural resources, which is widely used across the universe compared to other resources. For case, Oil United Company in Latvia is the taking company in the production of oil merchandises. However, the chief job is although this company uses oil, it must be cognizant about the importance of prolonging oil as a natural resource. In add-on, the company must besides be cognizant about the environmental effects caused oil industry.

• This undertaking was to find the usage and production of oil in Latvia. This undertaking was besides aimed at finding the effects of oil to the environment. However, the most of import portion was to find whether the oil is exploited or sustained. Therefore, this undertaking was to educate the companies fabricating oil the importance of prolonging natural resources. This is to fix them for the demand to implement other options because natural resources are running out of clip.
• The overexploitation of oil agencies that shortly, these companies will miss natural stuffs and this will hold an impact on the production of the company and general activities.
• From this undertaking, there are several findings that will be of import to United Oils company in Latvia.
• From this undertaking, the undermentioned consequences were recorded ;
  • Oil is a natural resource that can be exploited easy
  • The usage of oil in Latvia is high both in industries and for domestic used
  • Oil production contributes to environmental pollution through the emanation of harmful substances into the environment
  • Latvia relies largely on oil from Russia and the development of natural resources in Russia, oil ingestion in Latvia has reduced.
  • The transit of rough oil from Russia to Latvia besides contributes to environmental pollution.
  • It is of import to do certain there is sustainability of natural resources like oil to cut down instances of development. This is due to increasing used of oil in Latvia that has increased the oil imported.
  • It was besides concluded that companies bring forthing oil merchandises pay small attending on the effects of oil, but they merely concentrate on the net income that the company incurs. Thus, United Oils in Latvia pays no attending on the consequence their merchandise has to the environment or development of the resources.
  • It was besides recorded the engineering has played a function in increasing the usage of oil across Latvia. However, the major industries like touristry, fishing, agribusiness, conveyance, and forestry have besides contributed mostly to the usage of oil in Latvia.

Reflection/Analysis

Exploitation of oil is a serious job that calls for pressing action. This is because shortly plenty, oil and its merchandises is traveling to be scarce. This will impact assorted sectors in the economic system like touristry, agribusiness, forestry, and touristry. Therefore, there are high opportunities that the economic system will significantly be effected in footings of growing. Thus, Latvia as a company must take necessary safeguard to command the usage of oil merchandises.

• The ingestion of oil in Latvia has been on an addition for over 10 old ages.
• This means that the rate of pollution caused by these merchandises is besides high in Latvia. This calls for an action to guarantee that the effects caused by air are minimized.
• United Oils Latvia should present new technological ways to do certain that instances of pollution are reduced.
• Given the fact that oil has been exploited, this means in the following few old ages this merchandise will non be extracted. Therefore, Latvia must implement other products/ways that could be possible in fabricating oil merchandises.
• There should be other merchandises that should be encouraged to replace oil, this will assist in cut downing ingestion of oil.
• Latvia can besides implement particular policies to extenuate the sector of energy. These policies will command the rates of pollution and besides ingestion of oil in the state.

Mentions

Anon. , 2009.Consumption of energy resources in Latvia.[ Online ] Available at: hypertext transfer protocol: //www.csb.gov.lv/en/notikumi/consumption-energy-resources-latvia-2011-33346.html [ Accessed 31 March 2014 ] .

Anon. , 2013.Latvia.[ Online ] Available at: hypertext transfer protocol: //www.eia.gov/countries/country-data.cfm? fips=lg [ Accessed 31 March 2014 ] .

Anon. , 2014.Latvia Oil Consumption.[ Online ] Available at: hypertext transfer protocol: //www.indexmundi.com/energy.aspx? country=lv & A ; product=oil & A ; graph=consumption [ Accessed 31 March 2014 ] .