Production and Operations Management The MBA program prepares students for careers in business from a holistic perspective. As such, it is important to understand the interrelationship between our physical environment and how it is impacted by business processes. The worst oil disaster in U.S. history began in April 2010. Its effects on the environment will remain unknown for decades to come. This assignment explores the process of converting crude oil to consumer fuels, such as gasoline for transportation. Required: 1. View the video: The Time It Takes to Provide Americaâ€™s Transportation Fuels at http://www.marathonpetroleum.com/the_time_it_takes/index.htm 2. Read the corporate profile of Marathon Oil at http://www.marathon.com/ You are to write a five to six (5-6) page paper that answers the following: 1. Analyze Marathonâ€™s product process and determine which phase is open to the greatest number of efficiency improvements. Explain your rationale. 2. Discuss the relationship between the retail price of gasoline and the world demand for crude oil. 3. Explain what Marathon could do to keep the price at the pump the same without losing profits if global crude production decreased by 10%. 4. In June 2010, President Obama imposed a six-month deep-water drilling moratorium. Determine the impact of a continued moratorium on deep-water drilling for retail gas prices in the U.S. The format of the paper is to be as follows: o Typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format.
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