High risk is experienced for the most part by the oil and gas industries causing high accidents. The environmental danger is the main risk in these industries. Released toxic gases by drilling oil and gas causing air pollution and water contamination. The emission of toxic gases from drilling of ocean also causes the depletion of ozone layer with the global heat. Oil spills are unsafe for the ecosystem as the drilling of oil can destroy the marine environment aggravating and affecting the marine life.
Thus, for minimizing the ethical risk, which is associated with oil spillage, the gas and oil industries have approved security plans.
It can be viewed that the companies do not take any activities and initiatives for natural disasters in the occasion of one of the largest oil spill named ‘Exxon Valdez’. Due to lack of care they are responsible for environmental disrupt and has spread oil slicks in coastline and sea over 2600 miles. Hence, if they would have taken initiatives in investing more capital in their organization for equipment and giving training to the new staffs, this could have successfully prevented by the oil industries.
Furthermore, it could be detected the areas of gap by taking the feedback from the employees in every one week performed by higher authority.
On the other hand, utilization of remote control system can be installed to close the wells. Proper communication is fundamental for exchanging information that can reduce the rate of accident. The fracking can cause serious infection and now and then death to people and creatures.
Thus, the government of each nation should act to restricted fracking everywhere throughout the world. This is a serious and viable step to manage ethical risks as it can keep from discharging methane, which brings hurtful radiation than some other gases. By implementing measuring gear in oil and gas, industry can give wellbeing work practice and it will secure for the people from any unnecessary dangers.
The work places of gathering oil and gas in the off-shores are very dangerous. With the help of cloud technology, the industries can store and monitor data in anywhere in the world. Thereby, it can be monitored technically by remaining in safe place rather than monitoring physically on the sites. Ethical measures are also taken for those who will not be using the equipment correctly. Additionally, for minimizing personnel and maintain equipment the companies are applying smart strategy where they are managing risk with the use of cloud technology. Hence, it has prevented the industries in managing risk within the workers and in environment.