Responsible buyers or people concerned with ecological impacts of oil on the environment could switch to alternative sources like bio fuel. Consumerism
The consumption pattern of the people is key here, today they may decide to substitute oil for gas and tomorrow vice versa. The protection or promotion of the interest of the consumer is a somewhat hard as they are unstable. Social mobility
An example of this is Leisure Time, people tend to move around more or travel when they are less busy and therefore burn more fuel during these times. This affects the consumption rate of oil/gas.
Technological innovation and development
companies investing on improving technical abilities through productivity (technical know- how) we have the examples of BP forming an innovation board with the sole aim of delivering innovation results in areas of business transformation , cost reduction , health , safety and environment. Also companies such shell ,Bp ,Centrica and royal Dutch have been investing in the development of storage facilities for carbon emissions after the government warning and set regulations by the EU on the on the amount of waste products to be let at by companies and at certain times. Extraction cost
As we all know the UK oil and gas industry is in serious Decline and has a foreseeable life span of about 40yrs.In the words of Tony Hayward, C.E.O. BP group “we are not running out of oil, it’s just going to get harder and Harder to get it out of the ground therefore; loads more expensive”. When Extraction cost is high, supply cost gets higher and that will have a strong impact on the industry. New technological strategies
Oil companies such as Procter Gamble, Unilever and Bp Etc, have struggling with finding cost saving approaches to Improve on technology. A common argument facing these companies is the Outsourcing versus shared services strategy. Where in shared services the IT Organisations becomes...