An Overview of ABC Plc - Free Essay Example

Table of Contents Company Overview UK operation Overview Tax Changes in UK U.S.A Operation Overview Japan Operation Overview Investment Country Analysis Regulation and Rules Tax and Licensing Cost Local Analysis Challenges: Economic Development in the region Risk Factors Economic Condition Legal un-certainty Regulatory and Tax Risk Security Concern Efficient Operation Customer Analysis Recommendations References Table of Figures Company Overview ABC Plc, a large multinational Oil and Gas Company, operates in USA, UK and Japan and its main activities are drilling, refining and distributing oil and gas. ABC Plc has not been making profits for the last 3 years in USA and Japan due to severe economic recession and management is planning to cease US and Japanese activities because of continuous loss. Current profit and loss account of the company performance reveals the following information.  £m USA Japan UK All Total Cost 950 700 450 2100 Less: Variable Cost 750 500 250 1500 Total Fixed Cost 200 200 200 600 Sales Revenue 700 650 800 2150 Group Net Profit 500 450 600 50 Contribution cost (50) 150 550 650 Fixed Cost 200 200 200 600 Profit/Loss (250) (50) 350 50 Above calculation of ABC Plcà ¢Ã¢â€š ¬Ã¢â€ž ¢s profit and loss shows that company is facing hurdles in U.S and Japan operations are in severe loss especially in U.S business. In order to affirm the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s decision to close the U.S and Japan operation, analysis of all countries in which company operation is required. Following is the overview of the company country based operations. UK operation Overview UKà ¢Ã¢â€š ¬Ã¢â€ž ¢s majority Oil reserves are located offshore in the UK continental shelf (UKCS), and most of the oil production occurs in the central and northern sections of the North Sea. Even though on shore there is a diffident amount of oil produced, in 2012 more than 90 percent of total UK production were offshore. (United Kingdom Analysis, 2013) Although UKà ¢Ã¢â€š ¬Ã¢â€ž ¢s reservoirs are aging and infrastructure have been affected the oil production in last few years, The government of UK does not hold any direct interest in oil production, but this sector remains important to the government because Corporation Tax and Supplementary Tax income comes from the Oil sector and accounts almost 25 percent of corporate tax receipts, according to Oil and Gas UK. (United Kingdom Analysis, 2013) Tax Changes in UK There have been a number of tax changes from 2011 that affected the sector, which includes the change in the rate of supplementary charge (an addition to the corporate tax). Furthermore, petroleum revenue tax (PRT) is increased to 81 percent of their profits (previous 75% rate), and fields that are not subject to PRT now pay a 62% tax (50-percent rate in the past). (United Kingdom Analysis, 2013) Because of the increase in taxes most of the UK projects have become less competitive. Operating cost increase with higher taxes has resulted in decreased investment. Even without the increased taxes, operating costs in the UK were very high which also discourage investors. U.S.A Operation Overview U.S Oil production has boomed from last decade making U.S to less rely on oil imports and other countries. But this increase has come with the greater cost. Also it is speculated that this boom will not last more than a decade resulting in depletion of resources and maturing the reserves. Big players in the sector are profiting from the boom but increased legislation and laws including labor etc. making it difficult for the small firms to survive and continue production. Cost Inflation rate in USA is increasing making companies more to spend on operations without meeting the demand to increase activity and production volumes. Also the price changing un-certainty challenging the capital budgeting and estimated net income, large expansion and development is also on going. It will be hard to invest in new sites for small players. Figure 1 U.S Energy Information Administration Japan Operation Overview Japan is the worlds largest liquefied natural gas importer, second largest coal importer, and third largest net oil importer. Domestic oil reserves are very limited, according to theOil and Gas Journal(OGJ). Reserves amounted 44 million barrels as of January 2013. Japans domestic oil reserves are found primarily along the countrys western coastline.(Japan Analysis , 2013) Because of the deficiency in reserves and recent climate changes after Fukushima incident Japanese government and energy companies have decide to pursue active participation in investing oil and natural gas projects overseas. To meets its oil consumption demand Japan relies almost solely on imports. Government controls oil stocks to maintain the supply without any interruption. Total strategic crude oil stocks in Japan were 590 million barrels at the end of December 2012, According to the International Energy Agency. In this stock 55% were government stocks and 45% commercial stocks. Because of the reserv e declining Japans natural gas production has been low and flat for over a decade. In 2012, production was 116 Bcf, a decline from an average of 185 Bcf over the past 10 years. (Japan Analysis , 2013) Investment Country Analysis The fact of foreign direct investment was cleared for the developing countries, they knew that FDI will bring change and transform their economies, bringing more jobs and capital ensuring the economic growth of the region. Because of this realization, developing countries are strongly encouraged to privatize state-owned industries and to give priority to attract foreign. Sub Sahara region of Africa is fulfilled with resources both oil and gas and continually booming from last few years. Many of the foreign companies are taking interest to invest in the region. For ABC PLCà ¢Ã¢â€š ¬Ã¢â€ž ¢s future investment in case of closure of U.S and Japan operation the best option to invest is Congo, a small African country with abundance of natural resources reserves. According to the latest estimates fromOil Gas Journal(OGJ) released in January 2014, Congo holds 1.6 billion barrels of proved crude oil reserves. This reserve is equivalent to 17.9 years of current production and 0.11 % of the worlds total reserves. Production is average of 295.4 thousand barrels of crude oil per day in 2011, 0.38% of the world and a change of 0.9 % compared to 2010. (CONGO (BRAZZAVILLE), 2014) According to the International Monetary Fund (IMF), 87% of the countrys export revenues and almost 80% of the governments total revenue in 2011 are coming from oil sector which shows that economy of Congo is highly dependent on its oil production. (CONGO (BRAZZAVILLE), 2014) Because of the lack of proper infrastructure small amount of natural gas has been commercialized. Despite the fact that Congo holds sizable proved natural gas reserves. Regulation and Rules Congoà ¢Ã¢â€š ¬Ã¢â€ž ¢s oil and gas reserves are managed by the Ministry of Mines, Energy, and Water Resources. Government use production sharing agreements (PSAs) for Oil and Gas exploration and production operations. Societe Nationale des Petroles du Congo (SNPC) is the Congos national hydrocarbon company, which manages government-owned shares in hydrocarbon operations. (CONGO (BRAZZAVILLE), 2014) SNPC has an operating interest alongside international oil companies (IOCs) through PSAs, which also include tax breaks and a royalty system. There are several IOCs, such as Chevron, Perenco, Murphy Oil, and SOCO Internationals, that participate in the oil and gas industries, but the companies that dominant the industries are Total and Eni. Tax and Licensing Cost Congoà ¢Ã¢â€š ¬Ã¢â€ž ¢s Licensing Laws are in accordance with Production Sharing Agreements (PSAà ¢Ã¢â€š ¬Ã¢â€ž ¢s) and very favorable for investors. The laws take oil production royalty of 15% from investors with transportation and processing costs, reducing the rate to 12-14% and a gas production royalty of 5%. Oil recovery cost is up to 70% of total production is negotiable while exploration costs and operating costs are recoverable. Congoà ¢Ã¢â€š ¬Ã¢â€ž ¢s corporate tax rate is 35%. (OiI and Gas Industry Regulation in Congo, 2014) Following Figure 1 shows the Oil production and Consumption in Congo: Figure 2 Local Analysis Most of the foreign companies investing and operating in Congo are utilizing the local content for human resources, selecting suppliers and involving in community activities to boost the trust of local population. This act not only providing social and economic benefits but also helpà ¢Ã¢â€š ¬Ã¢â€ž ¢s to create a stable relationship with the local host communities. ABC PLC should also consider this fact as an important aspect while recruitment of human resource and vendor selection process. Challenges: The total Oil production in Congo is around 310,000 barrels/day, generating 90% of government revenue and 90% of export earnings. For ABC Plcà ¢Ã¢â€š ¬Ã¢â€ž ¢s investment the major competitors will be The French Company Total which controls around 60% of output, Italyà ¢Ã¢â€š ¬Ã¢â€ž ¢s ENI produces 30%, and the remaining 10 percent is divided between the smaller players Congrep, Murphy and the state company SNPC. (CONGO (BRAZZAVILLE), 2014) Economic Development in the region Congo lies in Sub-Saharan Africa and economic growth in this region has up in 2013, regionà ¢Ã¢â€š ¬Ã¢â€ž ¢s GDP grew to 4.7%, growth was higher at the rate of 6%. FDI are coming in the region exploiting not only oil but gas and mining sectors as well. The Net FDI calculated for the region was 4$ billion in 2013. (CONGO (BRAZZAVILLE), 2014) Following is the table showing the GDP growth of Congo in past few years. (Congo Economic Studies, 2014) Figure 3 Risk Factors Following is the risk factor analysis for ABC Plc for investment in the developing country. It must be clarified that most of these risk factors cannot control by the ABC Plc and can affect the business. These risk factors includes Economic Condition The demand for oil products are directly related to the general economic growth. Demand can be interrupted by recession or negative/low economic growth. Major changes in region including civil unrest can also harm the demand. Financial markets and institutions changes can also pose serious risk to the company. Legal un-certainty Countries in this region including Congo have no well-developed legal system. Although the regulatory authority for Oil and Gas is present and working with investors to implement changes, but still the risk is present of any unpredictable action by government can make the business difficult for company. Regulatory and Tax Risk Although the government of the region are amending the laws and providing good terms to encourage foreign investors but the risk is remain to any change in laws including the international agreements can adversely affect the business. Any increase in corporate tax or royalty fee can harm the future profits of ABC Plcà ¢Ã¢â€š ¬Ã¢â€ž ¢s investment in Congo. Security Concern Successful operation can be disrupted by local communities in case of any civil unrest or labor union crisis making it impossible to continue operation or in worst case cause great costs for security or closing down the operation for a period of time. Efficient Operation ABC Plcà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance will depend on how company can perform competitively given the nature of few but big players in the sector. It will depend on the ability to manage the cost and expenses and improve production for the total term of business. This requires an efficient management with focus on utilizing right technology working with the best vendors and controlling cost. Customer Analysis Following figure shows the major customers of the Congo oil products. This ensures for ABC Plc that investing in the region is a right decision or not. Congoà ¢Ã¢â€š ¬Ã¢â€ž ¢s reserves are mostly un-utilized and in coming years the production will increase significantly. Also more FDI in the region will open the new markets for the oil investing companies. Figure 4 Recommendations After analyzing the U.S, UK and Japan Current situation and future investment opportunities for the ABC Plc in developing country, following recommendation has been suggested. U.S and Japan operation of company is causing a great loss and continuing it will harm the company and even cost to closing the business. ABC Plc operation in UK is profitable for the company but not in the long run, increasing cost will affect the business. It is imperative to further invest in other countries and close the U.S and Japan operation as Japanese government and oil production companies are also seeing opportunities to invest in other countries. ABC Plc can invest in any country in the African region but Congo will be the best case choice, as government is welcoming the FDIà ¢Ã¢â€š ¬Ã¢â€ž ¢s and have less restriction and barriers to entry. For investment in any country Supply is one of the vital factors and Congo has abundant resources in reserves which needs further exploration, making it impossible to decrease in future supply. Congoà ¢Ã¢â€š ¬Ã¢â€ž ¢s current oil customers include big countries hence the demand is speculated to be un-interrupted or lessen in coming years. Congo has a relatively calm political situation as compared with other small developing countries. Making it a good opportunity for investors. ABC Plc planning for investments in developing region affirm by the proposed projectà ¢Ã¢â€š ¬Ã¢â€ž ¢s capital budgeting. Projects PBP, NPV and IRR (interpolation method) has been calculated in order to take the right decision. Projects life has been estimated for four years with the PBP of 3.5 Years. PBP shows that in 3 years company will recover the initial cost of investment in the region. NPV of project investment at 7% rate suggests that project is profitable and will generate good revenue. This revenue increase will also helpful to the ABC Plc for their future investment plans and the positive NPV will increase the value of firm as well. Projectà ¢Ã¢â€š ¬Ã¢â€ž ¢s IRR has been calculated at 7% and 14% rate which show that project is acceptable at 7% and above rate but less than 13%. IRR suggests that projects should be acceptable as far as the IRR is greater than the cost of capital rate which in this case is 7%. Conclusion It is suggested for ABC Plc to close the business in Japan and U.S. and invest in Congo to continue its profit for coming years. Although there are still risk present in investing in a developing country but time and cost make this as a best choice in this scenario. References (2014).CONGO(BRAZZAVILLE).https://www.eia.gov/countries/cab.cfm?fips=CF.%20Last%20accessed%2019th%20April%202014.%20 -. (2014).Congo Economic Studies..Available: https://www.coface.com/Economic-Studies-and-Country-Risks/Congo. Last accessed 19th April 2014. (2013)Japan Analysis. , from U.S Energy Information Administration: https://www.eia.gov/countries/cab.cfm?fips=JA . Last Accessed April 19th, 2014 (2014) OiI and Gas Industry Regulation in Congo. from MBendi Information series: https://www.mbendi.com/indy/oilg/govo/af/co/p0005.html Last accessed on April 19, 2014 (2013) United Kingdom Analysis, from U.S Energy Information Administration: https://www.eia.gov/countries/cab.cfm?fips=uk Last accessed on April Saturday 19, 2014 Table of Figures Figure 1 Figure 2 Figure 3 Figure 4 1

The Schmalkaldic League Reformation War

The Schmalkaldic League, an alliance of Lutheran princes and cities that pledged to protect each other from any religiously motivated attack lasted for sixteen years. The Reformation had further divided Europe already fragmented by cultural, economic and political differences. In the Holy Roman Empire, which covered much of central Europe, the newly Lutheran princes clashed with their Emperor: he was the secular head of the Catholic Church and they were part of a heresy. They banded together to survive. The Empire Divides In the mid-1500s the Holy Roman Empire was a piecemeal grouping of over 300 territories, which varied from large dukedoms to single cities; although largely independent, they all owed some form of loyalty to the Emperor. After Luther ignited a massive religious debate in 1517, via the publication of his 95 Theses, many German territories adopted his ideas and converted away from the existing Catholic Church. However, the Empire was an intrinsically Catholic institution, and the Emperor was the secular head of a Catholic Church that now regarded Luthers ideas as heresy. In 1521 Emperor Charles V pledged to remove the Lutherans (this new branch of religion was not yet called Protestantism) from his kingdom, with force if necessary. There was no immediate armed conflict. The Lutheran territories still owed allegiance to the Emperor, even though they were implicitly opposed to his role in the Catholic Church; he was, after all, the head of their empire. Likewise, although the Emperor was opposed to the Lutherans, he was hamstrung without them: the Empire had powerful resources, but these were split amongst hundreds of states. Throughout the 1520s Charles needed their support - militarily, politically and economically - and he was thus prevented from acting against them. Consequently, Lutheran ideas continued to spread amongst the German territories. In 1530, the situation changed. Charles had renewed his peace with France in 1529, temporarily driven the Ottoman forces back, and settled matters in Spain; he wanted to use this hiatus to reunite his empire, so it was ready to face any renewed Ottoman threat. Additionally, he had just returned from Rome having been crowned Emperor by the Pope, and he wanted to end the heresy. With the Catholic majority in the Diet (or Reichstag) demanding a general church council, and the Pope preferring arms, Charles was prepared to compromise. He asked the Lutherans to present their beliefs at a Diet, to be held in Augsburg. The Emperor Rejects Philip Melanchthon prepared a statement defining the basic Lutheran ideas, which had now been refined by nearly two decades of debate and discussion. This was the Confession of Augsburg, and it was delivered in June 1530. However, for many Catholics, there could be no compromise with this new heresy, and they presented a rejection of the Lutheran Confession entitled The Confutation of Augsburg. Despite it being very diplomatic - Melanchthon had avoided the most contentious issues and focused on areas of probable compromise - the Confession was rejected by Charles. He instead accepted the Confutation, consented to a renewal of the Edict of Worms (which banned Luthers ideas), and gave a limited period for the heretics to reconvert. The Lutheran members of the Diet left, in a mood which historians have described as both disgust and alienation. The League Forms In a direct reaction to the events of Augsburg two leading Lutheran princes, Landgrave Philip of Hesse and Elector John of Saxony, arranged a meeting at Schmalkalden, in the December of 1530. Here, in 1531, eight princes and eleven cities agreed to form a defensive league: if one member were attacked because of their religion, all the others would unite and support them. The Confession of Augsburg was to be taken as their statement of faith, and a charter was drawn up. Additionally, a commitment to provide troops was established, with a substantial military burden of 10,000 infantry and 2,000 cavalries being split amongst the members. The creation of leagues was common in the early modern Holy Roman Empire, especially during the Reformation. The League of Torgau had been formed by Lutherans in 1526, to oppose the Edict of Worms, and the 1520s also saw the Leagues of Speyer, Dessau, and Regensburg; the latter two were Catholic. However, the Schmalkaldic League included a large military component, and for the first time, a powerful group of princes and cities appeared to be both openly defiant of the Emperor, and ready to fight him. Some historians have claimed that the events of 1530-31 made an armed conflict between the League and the Emperor inevitable, but this might not be the case. The Lutheran princes were still respectful of their Emperor and many were reluctant to attack; indeed, the city of Nuremberg, which remained outside the League, as opposed to challenging him at all. Equally, many Catholic territories were loath to encourage a situation whereby the Emperor could restrict their rights or march against them, and a successful attack on the Lutherans could establish an unwanted precedent. Finally, Charles still wished to negotiate a compromise. War Averted by More War These are moot  points, however, because a large Ottoman army transformed the situation. Charles had already lost large parts of Hungary to them, and renewed attacks in the east prompted the Emperor to declare a religious truce with the Lutherans: the Peace of Nuremberg. This canceled certain legal cases and prevented any action being taken against the Protestants until a general church council had met, but no date was given; the Lutherans could continue, and so would their military support. This set the tone for another fifteen years, as Ottoman - and later French - pressure forced Charles to call a series of truces, interspersed with declarations of heresy. The situation became one of intolerant theory, but tolerant practice. Without any unified or directed Catholic opposition, the Schmalkaldic League was able to grow in power. Success One early Schmalkaldic triumph was the restoration of Duke Ulrich. A friend of Philip of Hesse, Ulrich had been expelled from his Duchy of Wà ¼rttemberg in 1919: his conquest of a previously independent city caused the powerful Swabian League to invade and eject him. The Duchy had since been sold to Charles, and the League used a combination of Bavarian support and Imperial need to force the Emperor to agree. This was seen as a major victory among the Lutheran territories, and the Leagues numbers grew. Hesse and his allies also courted foreign support, forming relationships with the French, English, and Danish, who all pledged varying forms of aid. Crucially, the League did this while maintaining, at least an illusion of, their loyalty to the emperor. The League acted to support cities and individuals who wished to convert to Lutheran beliefs  and harass any attempts to curb them. They were occasionally pro-active: in 1542 a League army attacked the Duchy of Brunswick-Wolfenbà ¼ttel, the remaining Catholic heartland in the north, and expelled its Duke, Henry. Although this action broke a truce between the League and the Emperor, Charles was too embroiled in a new conflict with France, and his brother with problems in Hungary, to react. By 1545, all of the northern Empire was Lutheran, and numbers were growing in the south. While the Schmalkaldic League never included all of the Lutheran territories - many cities and princes remained separate - it did form a core amongst them. The Schmalkaldic League Fragments The decline of the League began in the early 1540s. Philip of Hesse was revealed to be a bigamist, a crime punishable by death under the Empires legal Code of 1532. Fearing for his life, Philip sought an Imperial pardon, and when Charles agreed, Philips political strength was shattered; the League lost an important leader. Additionally, external pressures were again pushing Charles to seek a resolution. The Ottoman threat was continuing, and almost all of Hungary was lost; Charles needed the power that only a united Empire would bring. Perhaps more importantly, the sheer extent of Lutheran conversions demanded Imperial action - three of the seven electors were now Protestant and another, the Archbishop of Cologne, appeared to be wavering. The possibility of a Lutheran empire, and maybe even a Protestant (although uncrowned) Emperor, was growing. Charless approach to the League had also changed. The failure of his frequent attempts at negotiation, although the fault of both sides, had clarified the situation - only war or tolerance would work, and the latter was far from ideal. The Emperor began to seek allies amongst the Lutheran princes, exploiting their secular differences, and his two greatest coups were Maurice, the Duke of Saxony, and Albert, Duke of Bavaria. Maurice hated his cousin John, who was both the Elector of Saxony and a leading member of the Schmalkaldic League; Charles promised all of Johns lands and titles as a reward. Albert was persuaded by an offer of marriage: his eldest son for the Emperors niece. Charles also worked to end the Leagues foreign support, and in 1544 he signed the Peace of Crà ¨py with Francis I, whereby the French King agreed not to ally with Protestants from within the Empire. This included the Schmalkaldic League. The End of the League In 1546, Charles took advantage of a truce with the Ottomans and gathered an army, drawing troops from across the Empire. The Pope also sent support, in the form of a force led by his grandson. While the League was quick to muster, there was little attempt to defeat any of the smaller units before they had combined under Charles. Indeed, historians often take this indecisive activity as evidence that the League had a weak and ineffectual leadership. Certainly, many members distrusted each other, and several cities argued about their troop commitments. The Leagues only real unity was Lutheran belief, but they even varied in this; additionally, the cities tended to favor simple defense, some princes wanted to attack.The Schmalkaldic War was fought between 1546-47. The League may have had more troops, but they were disorganized, and Maurice effectively split their forces when his invasion of Saxony drew John away. Ultimately, the League was beaten easily by Charles at the Battle of Mà ¼hlberg, where he crushed the Schmalkaldic army and captured many of its leaders. John and Philip of Hesse were imprisoned, the Emperor stripped 28 cities of their independent constitutions, and the League was finished. The Protestants Rally Of course, victory on the field of battle doesnt translate directly into success elsewhere, and Charles swiftly lost control. Many of the conquered territories refused to reconvert, the papal armies withdrew to Rome, and the Emperors Lutheran alliances swiftly fell apart. The Schmalkaldic League may have been powerful, but it was never the sole Protestant body in the Empire, and Charless new attempt at religious compromise, the Augsburg Interim, displeased both sides greatly. The problems of the early 1530s reappeared, with some Catholics loathe to crush the Lutherans in case the Emperor gained too much power. During the years 1551-52, a new Protestant League was created, which included Maurice of Saxony; this replaced its Schmalkaldic predecessor as a protector of the Lutheran territories  and contributed to the Imperial acceptance of Lutheranism in 1555. A Timeline for the Schmalkaldic League 1517  - Luther begins a debate on his 95 Theses.1521  - The Edict of Worms bans Luther and his ideas from the Empire.1530  - June - The Diet of Augsburg is held, and the Emperor rejects the Lutheran Confession.1530  - December - Philip of Hesse and John of Saxony call a meeting of Lutherans in Schmalkalden.1531  - The Schmalkaldic League is formed by a small group of Lutheran princes and cities, to defend themselves against attacks on their religion.1532  - External pressures force the Emperor to decree the Peace of Nuremberg. Lutherans are to be temporarily tolerated.1534  - Restoration of Duke Ulrich to his Duchy by the League.1541  - Philip of Hesse is given an Imperial pardon for his bigamy, neutralizing him as a political force. The Colloquy of Regensburg is called by Charles, but negotiations between Lutheran and Catholic theologians fail to reach a compromise.1542  - The League attacks the Duchy of Brunswick-Wolfenbà ¼ttel, expelling the Catholic Duke.1544  - Peace of Crà ¨py signed between the Empire and France; the League lose their French support.br/>1546  - The Schmalkaldic War begins.1547  - The League is defeated at the Battle of Mà ¼hlberg, and its leaders are captured.1548  - Charles decrees the Augsburg Interim as a compromise; it fails.1551/2  - The Protestant League is created to defend the Lutheran territories.

The Report On Climate Change Dictates - 5048 Words

The Challenge. (Intro.) The IPCC 5th report on climate change dictates we may have hit the no-return mark before action of climate change becomes too late, with a high degree of agreement, it is clear that we live in a carbon-constrained world with a carbon budget beyond which the irreversible catastrophic impacts of global warming may not be avoidable. To have a 50% chance of staying below 20C of global warming, 62% of fossil fuels proven reserves, and 88% of coal reserves must stay in the ground. Huge new fossil fuel developments, like the Galilee Basin in Australia, the tar sands in Canada and new resources in the Arctic, cannot be developed. Oil majors are caught in a dilemma; the challenge of choosing between being proactive towards the pressing climate change issue in a carbon-constrained world by shifting their interest from the pursue of further exploration and production of hydrocarbons, and between maintaining current business models that prioritizes immediate profit and short-termism in capitalizing on fossil fuel market while it remains feasible from an economic standpoint and from a return on energy investment perspective. (RoEI). Companies that promote short-termism in reaping maximum profit from the sustained growth in oil production may be caught off guard and suffer from potential climate change mitigation scenarios that could have drastic implications on the industry, such as the sudden introduction of stringent policies to mitigate the rapidlyShow MoreRelatedPublic Opinion On The Topic Of Climate Change Remains Divided1504 Words   |  7 PagesPublic opinion on the topic of climate change remains divided despite over two decades worth of research and a strong consensus in the scientific community (Deryugina and Shurchkov, 2016). In an experimental survey, the authors tested whether providing the public with information based on scientific agreement on the occurrence and causes of climate change would affect the respondent’s beliefs. They found that not only did the public significantly underestimate the extent of the scientific consensusRead MoreAnalysis Of Timothy Smith s Climate Change1213 Word s   |  5 PagesSupply the Environment (A Solution to Timothy Smith’s, Climate Change: Corporate Sustainability in the Supply Chain) The global supply chain delivers goods to consumers in a complex system designed around speed and efficiency. This dynamic network is becoming stressed as the transfer paths and production of materials grow globally. Anna Nagurney a professor at the University of Massachusetts Amherst, confirms, â€Å"Added stress can wreck local and national economies. The entire world is at the tippingRead MoreSwot Analysis : Cob Skoda Packet 14 Supply The Environment1217 Words   |  5 Pagescob Skoda Packet 14 Supply the Environment (A Solution to Timothy Smith’s, Climate Change: Corporate Sustainability in the Supply Chain) The global supply chain delivers goods to consumers in a complex system designed around speed and efficiency. This dynamic network is becoming stressed as the transfer paths and production of materials grow globally. Anna Nagurney a professor at the University of Massachusetts Amherst, confirms, â€Å"Added stress can wreck local and national economies. The entire worldRead MoreHurricane Katrina: A Study of the Climate Risk Management Approach620 Words   |  3 Pagesimmediately to a disaster and only to seek help from the federal government when absolutely necessary. This model stems from the historical interpretation of the various government powers. The local and state government has the reserved power to dictate such local decisions. The Network model is a method devised after Hurricane Katrina, by which the federal government has now obtained the authority to step into state emergencies and supersede the states authority to act and assist. While thisRead MoreInternational Accounting Standard 27 : A Great Deal Of Importance On The Perception Of Control Within Group Accounts1547 Words   |  7 PagesInternational accounting standard 27 illustrates a great deal of importance on the perception of control within group accounts. This report focuses on evaluating how important the notion of control is in deciphering whether or not group accounts have to be initially created. Throughout this report the concept of control, within group accounting, will be evaluated and critically analysed to gain a wider understanding thus resulting in a relevant interpretation being produced. The advantages and disadvantagesRead MorePublic Policy : The United States1453 Words   |  6 PagesPublic policy as its name states is genera ted through the government process such as the legislative branch. In order to address these issues the legislative branch enacts laws and regulations. Law is a major aspect of public policy because it can dictate how someone is treated following a certain sequence of events. In the criminal justice world laws can regulate how an interrogation is done and whether or not a stop is legitimate or not. The United States constitution can be seen as public policyRead MoreWhat Is The Legality Of A Company?1487 Words   |  6 Pagespresence. To begin with, it is important to recognize that MNEs cannot acquire international legal personality without being subject to the same. In other words, these companies can only acquire legal personality if there exists a law to which they report. In this case, the major focus is international law. International law, at the face of the record, is set of rules that govern the interaction between internationally recognized territories, states, organizations and bodies. Multinational corporationsRead MoreElements Of Create Leadership Accountability896 Words   |  4 Pagesinability to establish and enforce accountability. When organizations establish accountability, work is efficient; and without it, procedures fail and policies are overlooked by staff (CMOE, 2016). As stated by CMOE (2016), personal accountability is a climate that is created when a leader consistently practices Behavior Must Equal Consequence. CMOE recommended for leaders in organizations to establish personal acco untability. When staffs are not held accountable for their negative behavior, it drops theRead MoreA Guide For Fire Regimes And Management Practices1737 Words   |  7 Pagesrange of landscapes and climates (Clarke 2008). It has been acknowledged that gaining knowledge about biodiversity responses to fire is difficult, and faces sometimes overwhelming practical constraints (Driscoll et al. 2010). Providing useful knowledge therefore requires a careful choice of research approaches. Understanding the impacts of fire on biodiversity is becoming increasingly important as the pressure to manage fuels for asset protection, the impacts of climate change, and the continued urbanisationRead MoreSample Resume : Purchasing Manager Essay1659 Words   |  7 Pagesover approach whereby a powerful buyer essentially dictates the terms tp the suppliers. For instance , the buyer might demand a certain price and simply refuse to consider the suppliers unless they agree to this price .then we shoul d choose from , two basic type of contracts first of then fixed price contracts which type of contract where a contract the payment amount does not depend on recourse used or time expended , so fixed price does not change for life of contract . second cost based is a contract

Frederick Douglass Quote Log free essay sample

Capable of high attainments as an intellectual and moral being needing nothing but a comparatively small amount of cultivation to make him an ornament to society and a blessing to his race by the law of the land, by the voice of the people, by the terms of the slave code, he was only a piece of property, a beast of burden, a chattel personal, nevertheless! † * Page 4 * Pathos, logos * The audience of this piece is educated, white abolitionist men from the north. Because of this, this speaker chooses to frequently use logos to make his argument, which is evident in this passage. He is straight forward in describing what it truly means to be a slave, and how they are of no lesser value than white people. These are simply facts, but the tone in which they are presented enable the audience/reader to understand where he is coming from and take his side. We will write a custom essay sample on Frederick Douglass Quote Log or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page * â€Å"I reminded the audience †¦ might burst of feeling. The exigence (issue being addressed? ) of this piece is the issue of slavery. Most pro-slavery people truly believed that blacks were of lesser value than them, and were of no potential benefit to society other than working as a slave. The author of the preface uses the logos appeal to prove this to be untrue, by explaining that the characteristics of a slave exist not because of the slave’s race, but because of the slavery itself. The capitalization of â€Å"the domestic institution† makes him sound more emotional and strong, as if he is yelling because he is so upset over the issue. * â€Å"Mr. Douglass has frankly disclosed †¦ if they are untrue.   Again, we have known you long †¦ fair specimen of the whole truth. These two passages are clear ethos appeal for Fredrick Douglass. Though someone else wrote both excerpts, they both give Douglass credibility that will carry on into his narrative. It makes Douglass’ narrative more powerful as a whole because the reader truly believes what he or she is reading. â€Å"There is no single spot †¦ I should throw the MS. into the fire., logos * Since the audience is mostly abolitionists, the author uses the logos appeal here to evoke a pathos appeal in them. He says that there is nowhere that a slave can ever truly be safe. People that were pro-slavery would probably think nothing of this statement, but this audience is educated and open-minded, and is able to recognize how unfair a situation the slaves are in. The impact of this quote is great, because the readers realize how trapped the slaves were and it makes the readers feel for them and want to do something about it. The audience is educated, and these facts are given to show how these slaves are intentionally dehumanized to prevent them from being able to develop even the most basic knowledge of themselves as individuals. It is effective because it shows the readers that it is not the slaves fault that they appear less educated, it is because they are intentionally kept ignorant. * â€Å"She made her journeys to see me in the night, travelling the whole distance on foot, after the performance of her day’s work.   In this passage, Douglass is talking about his mother. Most of the audience are adults, and are most likely parents in their own right. In this way, they can empathize with the desire of a parent to be with their child. This is effective in showing how slaves are humans just like everyone else and have emotion and longing to be with their families. * â€Å"He must not only whip them himself†¦ ply the gory lash to his naked back. † * Page 15 * Logos, pathos * The pu rpose of this narrative is to get readers to see how awful and inhumane slavery is, and to want to abolish it. This statement is clearly wrong (logos) and causes readers to sympathize with Douglass and agree that slavery should be banned. * â€Å"He would at times seem to take great pleasure†¦ would he cesase to swing the blood-clotted cowskin. † * Pages 15-16 * Logos, pathos, ethos * Douglass is writing this narrative to address slavery and give readers an idea of what being a slave is really like. To further show this, he uses this quote to show just how inhumane the owners can be. By using a specific example, he gives himself credibility of knowing what he’s talking about and really having witnessed torturous events. The language and tone used appeal to the pathos appeal because he sounds so angry about the things he has seen. * â€Å"To all these complaints, no matter how unjust†¦ thirty lashes at a the time. Because most of the audience is already abolitionist or open to abolishing slavery, Douglass knows they will find this passage unfair. Also, most of the audience is adults, and Douglass’ description of Old Barney gets them to sympathize with him. Logos Douglass is showing the audience that there are reasons why they don’t hear too much about why slavery is so bad, because the slaves have fatal consequences if they complain. His diction is very factual and straight to the point, due to his educated audience. His purpose in writing is to get people to see how dark slavery is, and this quote shows why some people might not think slavery is so bad. * â€Å"Mr. Gore then, without consultation or deliberation with any one†¦ He alone seemed cool and collected.