Environmental law is global in its reach. Multinational companies make business plans
based on the laws and regulations of the countries in which they are headquartered and
have manufacturing facilities as well as the countries in which they distribute and sell
With the industry enduring a third straight year of low oil prices, and with no prospects
for a significant increase in sight, participants in the industry have been forced to adapt. Oil companies must continue to be disciplined, allocating scarce capital only to their best prospects, and shelving less promising projects for future years.