Abstract
The oil and gas industry heavily influences the global economy's growth. Oil and gas drilling operations extract petrochemicals from the earth's crust and the depths of the sea, which poses significant risks to individuals involved in the process. Oil and gas prices affect the cost of many goods and economic activity around the world. It would increase employment, open up new work prospects, and significantly contribute to global trade and commerce growth. Numerous injuries and fatalities have resulted from a lack of safety rules during the past few decades. Natural disasters such as storms and floods have led governments to make large investments in operations with the goal of lowering the number of casualties and economic damages caused by natural disasters. In this chapter, the analysis of economic disasters and the effects of these disasters on the environment and the economy are described.
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