Gulf of Mexico Oil Spill and the Environment

The oil industry is an important sector in individual and global economies. The industry is responsible for the accessibility and pricing of oil, an important component used in daily operations. The pricing of oil has a direct impact on the pricing of manufactured commodities i.e. those produced by the use of this important component. The contribution of the industry to global economy cannot be neglected. According to statistical figures, a good amount of energy consumed in the entire planet emanates from oil production. However, this unmatched production is facing acute rebellion from environmental groups. These groups argue that the industry is responsible for the pollution of the environment i.e. through carbon and other particle emissions.