Essays on Oil Production

Current Event Article: Practical Application of the Concept of Elasticity

The applicability of different economics concepts occurs in the activities of business organizations, economies, and individuals’ decision-making. The concept of elasticity has wide application in the decision-making of an individual consumer, organizations, and the entire economy. This paper will analyze the elasticity article “Prospects for a U.S. Oil-export boom” published in the Wall Street Journal on 13th, January 2017, which relates to the feasibility of the United States to raise oil production (Strumpf, 2017). The article focuses on the capacity of the US to increase its oil production to improve its sale of crude oil in other countries (Strumpf, ...

Role of community citizen in palm oil producing nation

The role of a community citizen in a palm oil producing country is very important. A community citizen will have two main roles. The first is to ensure that the people benefit from the output of palm oil and the second is to ensure that there are no adverse effects on the environment during palm oil production. This role requires the citizen to work together with palm oil producers to ensure that the population is educated about the best ways to protect the environment while producing palm. The community citizen is also tasked with working with government to ensure ...

1. Introduction Cutting cost has become a priority for many oil companies in recent years. The discussion covers the reason why oil companies are cutting cost and the means that management in oil companies are employing to cut cost. 2. Why oil companies are cutting cost? Oil companies are cutting cost in response to the radical drop in oil prices in the last two years. From 2011 to 2013, the price of crude oil was above $100 per barrel. In 2014, prices dropped to below $100 per barrel but above $90 per barrel. By 2015, crude oil price fell ...

Oil Prices Fluctuating In the Middle East

Introduction Oil being a commodity is subject to high levels of fluctuations as opposed to the stable investments like bonds and stocks. In particular, Organization of Petroleum Exporting Countries (OPEC) plays a significant role in influencing the prices of oil across the globe. As a result, OPEC controls around 40 percent of the global supply of oil by setting the production levels that caters for the world demand and it can determine the prices of gas and oil by reducing or raising the levels of production. At a particular point in time, OPEC vowed to maintain the prices above $ ...

Introduction

The Petrochemical industry in the ministry of energy has been focusing on the oil prices change and how it influences the economy. The oil demand comes from the petrochemical industry whereby energy generation helps in manufacturing and production industries. These industries help in economic transformation through improving country’s GDP. As the source of energy, oil in the petrochemical industry has been influenced by inflation and unemployment, interest rates and exchange rate. These factors influence the government spending, hence affecting the importation of oil from the producing countries such as Saudi Arabia. The oil prices as a result of ...

Impact of Oil Price to the Country and Citizens

Abstract The above study seeks to explain the impact of the decline in oil prices in Sultanate of Oman with a focus on the country and the people as well. The research will concentrate on achieving the set objectives, which will require analysis of how the same influence the economy, the citizens and other Non-Oman individuals. The study outlines that Oman is a country that is heavily reliant on oil production and calls for a need to diversify income revenues. However, before stabilizing the country’s economy, there is the need to manage the worrying prices through enacting of ...

Introduction

Under a merger, two business entities come together and become a new business with a new name. On many cases, the mergers bring together firms, which are equal in size and stature. On the other hand, an acquisition involves a larger and more powerful company buying another business; a smaller business. The purchased business may be fully absorbed by the parent company or in some occasions, may be operated as a subsidiary. The use of mergers and acquisitions may take place during any economic environment meaning that it may take place when the companies involved are both performing well, ...

Internal Analysis of Encana

Internal Analysis of Encana

Introduction

The oil and gas industry in North America is currently experiencing challenges and transition stage. The increasing need for the environment-friendly and sustainable forms of energy is affecting the industry negatively as more governments and companies are encouraged to use energy with no or low carbon emission. More companies are now developing solar and wind energy and create vehicles that can rely on electricity rather than oil. Such growing trend in the energy sector resulted to lower demand of oil and gas particularly in the North America. Many oil and gas producing countries and companies ...

Introduction

According to Alexander (2014), the oil sands of Alberta have around 1.7 to 2.7 trillion barrels of bitumen reserves. The recoverable oil resource in Canada is second only to that of the leading oil producer, Saudi Arabia. The vast oil reserves are capable of supplying Canada’s energy needs for over 500 years. Presently, nearly 40 percent of Canada’s oil production is generated from the oil sands (Alexander, 2014). They comprise mainly of bitumen mixed by sand and water. Alberta’s major oil sands are located in Cold Lake, Athabasca, and Peace River. Different deposits and areas have ...

____________ University

Introductory remarks

Alberta oil is one of the largest oil fields in the world. According to Simon Dyer, “The Canadian oil sands are the second largest proven oil reserve after Saudi Arabia” (Dyer, 2009). The commercial development of the Alberta oil sand had begun in the late 1960s. By the time World War I had arrived, and after the war was over, Canada was almost entirely dependent on oil from foreign countries. Canadians, after the war, began to wonder if the nation had any oil resources of their own. This interest led to the creation of the Alberta Research ...

Influence of the Organization of the Petroleum Exporting Countries (OPEC) 2

Economic growth of countries outside the Organization for Economic Co-operation and Development 4 Bric: Brazil, Russia, India and China 5 Trade between non-OECD countries 5 Climate Change Policy 7 The greenhouse effect 7 Strengthening the greenhouse effect 8 Global climate change 8 Oil reserves in the world 10 Influence of the Organization of the Petroleum Exporting Countries (OPEC) OPEC long ago lost its hegemony in the world oil market but remains a major influence on prices against the formidable challenge of US oil shale. OPEC decided she decides to continue producing in abundance not to give more ground to ...

Executive Summary

Fossil fuels are the predominant source of energy for industrial and transportation consumption. It is however expected that in a few more decades, fossil fuels will have lesser role to play than non-conventional oil and gas sources and renewable energy sources. This paper presents an overview of some of the socioeconomic factors that are driving the global oil industry and their implications for the UK industry. Four key influences are studied to understand the implications for the industry in terms of economic and environmental factors. The steady influence of OPEC is a significant factor in the pricing of crude ...

Letter of Transmittal

Richard Albert Sylvester Management Consultant Lamplighters Corporation Ottawa K I P 5B5 Phone: 613-563-1509 www.lamplightres.ca The Right Honorable Justin P.J. Trudeau

Office of the Prime Minister

80 Wellington Street

Ottawa, ON K1A 0A2

RE: Project Suitability Report on the Proposed Trans Mountain Expansion Pipeline Project Dear Right Honorable Prime Minister, It is with great pleasure and honor that I submit this report on the suitability of the proposed Trans Mountain Expansion pipeline project. The Trans Mountain Expansion pipeline project proposal by Kinder Morgan aims at increasing the current capacity of the existing Trans Mountain oil pipeline. Currently, the existing infrastructure has a capacity of 300,000 barrels per ...

The welfare of a country and its position among other world nations is hugely determined by its economic policy. Saudi Arabia is one such country with a consistent and stable economy and is one of the most important international players. It is the largest oil exporter among the OPEC countries, its de facto leader, an influential player among the GCC countries and the most important partner of the USA in dealing with Middle East issues. In this essay, the economic policies and exchange rate policies of Saudi Arabia are discussed in detail. Also the foreign investments and operations of ...

1. Introduction The Organization of the Petroleum Exporting Countries – OPEC coordinates and unifies the policies among the oil exporting developing nations. The increase oil production has an impact on the supply and demand side and impacts the prices and incomes of the OPEC countries. The examination will answer the research question what are the effects of increased oil production in the OPEC countries with the focus on the Middle East member countries.

Problem

The Middle Eastern countries with the production of oil impact the international price of oil and also their incomes. The OPEC countries, which are among the biggest ...

Based on the OPEC website (n. p.) the countries with the lowest industry margins, which indicates the profitability for companies involved in retail oil sales are countries of the G7, which have on average lower industry margins as the countries in the OECD. In comparison the average industry margins are lower in the countries of the United Kingdom, Italy, Germany, France, Japan, Canada and United State of America, but also among those there are differences. In Italy, Germany and France the net margins are the highest and in the United Kingdom, France and Canada the lowest.

The high and low prices for a liter of oil have an impact on the consumer behavior

and investment in ...

1. Introduction Agriculture is an important area of policy development in the EU. There are 500 million people residing in the EU (European Commission, “Agriculture”). Common Agricultural Policy (CAP) expresses the EU’s agricultural strategies and plans for all member states. CAP is one of the oldest EU policies. Revision of the CAP occurs periodically to accommodate emerging issues affecting all member states or specific to one or some member states. Spain protects its interests as a major agricultural producer by influencing the EU’s agricultural policy. Agriculture is a key sector in Spain. The agricultural sector contributes 3.4% ...

Algae are a diverse group of organisms that are mainly autotrophs. Autotrophs are organisms that mainly produce complex organic compounds by using simple inorganic molecules and light or in other instances by chemical reactions. Algae can be broadly classified into two main groups which are unicellular or multicellular. Seaweeds form the largest and most complex marine type of algae (Olanrewaju, Wan Nik, & Kader, 2013). It should, however, be noted that algae can further be classified in many different ways. Below is an illustration of some of these classification representations. Green algae are classified into the Plantae kingdom and are, ...

Introduction

Over the last one year, the global oil price has declined rapidly by approximately 50 percent. The drop in the oil prices may have largely been as a result reduced global growth prospects. Analysts argue that the rise of the U.S dollar in relation to other currencies played a significant role in the oil prices decline (Energy Information Administration, 2014). The decrease in the global oil prices has led to a significant impact on the U.S economy. In essence, the price drop has reduced the cost of living while increasing the real consumers’ incomes. The real income gain has ...

Technological innovations have had various effects on the prices of oil all over the world. Many countries have been affected either positively or negatively by the advancement in technology, especially in the oil business. There has been a drop in the prices of oil due to various reasons. Many countries which produce oil, especially the Gulf States and the general Fly Emirate members have had a terrible economic situation due to the drop in prices of the oil prices, which acts to be the primary source of income for them. The advancements in technology are expected to bring an ...

This paper will cover oil price dynamics for the period starting from 2005 until the present moment of time. Exact price dynamics will be considered as well as a variety of factors influencing the oil price through the above mentioned period of time. The chart showing the dynamics of crude oil barrel price since 2001 is presented in fig. 1. Figure 1. Dynamics of crude oil price per barrel for the period between January 1, 2001 and April 19, 2016 (Trading Economics, 2016). Before the period, which is the subject of this paper, the oil price had been nearly ...

Introduction

Since the mid XX century, the oil industry occupies a leading position in the global energy sector. A prerequisite for the implementation of large-scale long-term investments in the oil industry under the condition of a favorable outlook for oil demand in the world market is the availability of relevant geological reserves of oil in a particular region and the world at large. OPEC-countries account for over 40% of world oil production. Especially, the Middle East, particularly the Gulf basin, where there are the largest oil fields in the world, is rich for oil reserves (OPEC, 2015). Oil is extracted ...

Inflation in Saudi Arabia

Inflation in Saudi Arabia

Introduction

The country of Saudi Arabia is counted as one of the world’s strongest economies, ranking 20th after the world’s most powerful nations as per the GDP ranking 2016. As per Saudi Arabia’s GDP, it ranks third in the world after China and India. The country has seen a stark growth in its economy as public debt declined in the past decade and the overall economic growth showed a positive step toward Saudi Arabia establishing itself as a prominent economic strength of the world. However like every other country in the world, Saudi ...

Sedimentary rocks are naturally occurring rocks with significant physical and chemical properties. They are of three types, namely clastic, chemical and organic. While clastic sedimentary rocks form as a result of consolidation of minerals or rock fragments, chemical sedimentary rocks form through the precipitation of minerals from solutions . On the other hand, organic sedimentary rocks form as a result of compression of plant and animal remains. Sedimentary rocks form near the surface of the earth and depend on the environment of their deposition and transporting agents. Some of the common examples of sedimentary rocks are limestone, conglomerate, sandstone, coal, ...

Krauss on March 30, 2016, in the article “Oil Prices: what’s behind the Drop? Simple Economics” attempted to explain the cause of the extreme depreciation of oil prices globally. Krauss noted that the United States oil production has since doubled forcing Saudi Arabia, Algeria, and Nigeria to seek other markets and in particular Asia. The competition increased stiffly causing the price to drop significantly. Besides, Canada and Iraq have been increasing production as well as Russia despite its economic woes. Apart from that, in Europe and other developing countries, vehicles are becoming energy efficient reducing the demand for ...

Introduction:

Long have it known that oil has been one the most important commodity in the world. In fact, the rise and fall of the price of oil and gas in the market dictates the global economy. Oil as a major factor in the global aspect, has been the root cause for most of the world history’s political strife, wars, hostilities, and cause of economic downfall, such as the great depression. Oil is also one of the bases for the country’s economic status, putting those sources of conventional oils on the pedestal and on the more advantaged stage ...

(a) A hierarchical structure and organization by functional specialty as enunciated by Weber’s principles of modern bureaucracy are two important facets of a government organization because they both serve as control tools in the efficient delivery of basic services to the public. Hierarchy represents the classic command-and-control relationship that is a defining feature in many organizational settings, including governments. A hierarchical structure permits those in the higher rung of the hierarchy to review the conduct of activities by those in the lower rung. It serves as a control tool that assures democratic accountability or to put it bluntly, ...

Critically discuss the implications of recent trends and changes within the supply chain of the UK petroleum retail market.

Critically discuss the implications of recent trends and changes within the supply chain of the UK Petroleum retail market. Introduction The United Kingdom incorporates four separate legal systems within its entity that are Wales, England, Northern Ireland and Scotland . In order to maintain uniformity in laws pertaining to the ownership of natural fuel such as Petroleum, the 1937 Petroleum Act was passed, which established that all such resources fall under the control of the British Crown. The petroleum distribution system in the United Kingdom resembles the system that is prevalent in the United States of America, that is, a ...

I will be looking at whether resource prices are rising or falling. I will conduct a deep research into the root of this problem around the world. Through this research it will be easy to establish the solutions to this problem which is not healthy to the economy (Neumayer 68). The research will be conducted through; closed questionnaires, data analysis and use of internet research which includes the use of World Bank and IMF data. Just to take a preview of the essay topic, the history of this problem is from the recent drop in global oil prices that ...

Crude Oil Prices: Market Supply and Market Demand

Abstract The primary purpose of this paper is to understand how supply and demand factors contribute to a consistent decline in crude oil prices across the globe. Furthermore, the paper seeks to understand the impact resulting from the fall in the U.S and the global economy and implications of the same. In the introduction, the paper starts by acknowledging the importance of crude oil to the world economy and the fact that it is an ordinary commodity whose price is influenced by the market forces. Oil prices are renowned for their instability in the market, an aspect that is ...

The OPEC heavily relies on oil revenue to grow their economies. To ensure a high flow of revenue they formed a cartel to control their output so to sell crude oil at a relatively high price. However, the strength of the cartel has declined, the prices of oil have been declining, and the countries seem to lack a solution (Bowler, 1).

Reasons for Price Decline

The United States dollar has appreciated over the last few years. Currently, it is twelve years high against major currencies like the Euro. The appreciation has put markets under pressure because as the U.S dollar gets strong the ...

The concept of Demand and Supply exists in virtually every commodity in the world. It is the main factor that determines the prices of commodities. In reality, there are many factors at play in the Demand-Supply scenario. This essay will cover some of the demand and supply aspects for Oil. In the article, one understands that the price of oil has gone up due to an increase in the demand for oil. The reason for this price movement was the sudden spike in demand for crude oil. (Puko) In this case, although there was still a high supply of ...

Introduction and context

The oil industry and its pricing are an important subject in the international finance. The oil is the most important commodity in the world economy. Oil took an economic and geopolitics importance after the World War II in the 1945 and the Gold Standard elimination from the United States of America in 1971. The oil and its price in the United States Dollar are the bases of the world economy. Currently, the oil is its lower value from 2003 when the oil barrel has a value of 20-25 USD. The oil barrel achieves the highest value of history in ...

What has the economic fortunes/misfortunes of your country been? 

The United Arab Emirates (UAE) was one of the least developed countries some thirty years ago. However, the country today has recorded an economic level that can be compared to that the industrialized countries. Unlike the industrialized countries, which had to go through many development stages, UAE has leaped economically thanks to its huge oil revenues, which record a mass consumption rate. Due to the plentiful natural resource in the form of gas and oil UAE has embraced industries that are resource-based and that has facilitated its growth plan (Mallakh 88). This industrialized approach is based on the exploitation ...

Introduction

OPEC, or the Organization of the Petroleum Exporting Countries, is an organization that was formed by Saudi Arabia for the purposes of creating a global body for the general oversight of the oil industry. Prior to the formation of OPEC in 1960, the global oil market was much less fully integrated, and countries that produced oil were able to largely behave in their own self-interest without concern for the other countries of the world. Because there are only thirteen countries that are responsible for approximately 40% of the world’s oil production, cooperation between these countries became important as ...

Response to 1st student

Chances are slim for the OPEC to reach a binding agreement. Follet (2016) noted that Saudi Arabia was not willing to reduce production to increase prices despite calls from other member states. As I mentioned in my post, the previous agreements were met with suspicion as some of the members would increase production other than cut to edge the others out of the market. Low prices mean that the countries need to sell more oil to maintain their revenues. It follows that the countries may not absorb the loss associated with decreasing production. Competition has created distrust among the ...

1. The article "Oil Supply-Demand Imbalance Will Dissipate Painfully Slowly" was produced by Gaurav Sharma and published in the Forbes Magazine in August, 2015. The article seeks to explain the current supply-demand disequilibrium in the oil market analyze the causes of such significant imbalances. The first key point discussed in this article is the tremendous oil price downturn which took place in the past year. The author suggests that despite the general and global turmoil in the commodities sphere and considerable price fluctuation in the majority of other markets, particularly in the industrial metals and precious metals markets, disequilibrium ...

In the earlier years, Russia was one of the countries with the richest economies. The most valuable resource in the country is energy, which contains almost 30% of the world's natural resources. The worth of this energy is estimated to be around $75.7 trillion. Additionally, the country has an abundance of oil, various precious metals and natural gas, which contribute a greater percentage of the country’s exports. In 2012, the revenue collected from the oil and gas sector contributed 16% of the GDP and over 70% of the country's exports2. However, the Russian economy has faced a rapid ...

International Baccalaureate Internal Assessment Economics HL

International markets are quite dynamic given that many demand and supply factors come into play in the determination of market prices. Countries depend on international markets to trade surplus commodities in an effort to earn incomes which are not only used to power economic development but also acquire goods and services these countries demand. Venezuela for instance, is a nation with huge oil and gas reserves and as such, has benefit from favorable international market prices for both oil and gas (Al Jazeera Media Network). This was especially the case when the international price for crude oil rose sharply ...

Flynt Leverett and Pierre Noel in their documentary titled,” the new axis of oil” the national interest discuss a wide range of issues that affect production, distribution and consumption of oil in both the oil and the no oil producing countries. The first topic; commonly referred to as “The Black is the New Green”, forms the benchmark of these two authors, and this directly relate to the high consideration given to oil by most countries. In fact, oil has become a black gold, and its exploration is associated with vested domestic and national interests. USA is a big player ...

I. Introduction Human activities are causing the world to warm and the global average temperature is predicted to increase by 1.8-4.0C (3.2-7.2F) by the end of the century. (Griffin, 2009) These numbers might not seem that large but when you factor in the rate at which they are increasing, it almost becomes obvious that human contributed greenhouse gases are a huge contributing factor. Since the climate will continue to change for natural and humans activity reasons, it critical to understand the adaptations humans need to do as soon as possible. For certain, if oil production and oil consumption ...

ABSTRACT

The research argues that although a gas flaring stoppage is not successfully in-place in Nigeria, fitting the appropriate technology with complementary economic and institutional factors can lead to near-zero or zero gas flaring. Nigeria is a developing country with a unique culture of many tribes and one of the largest growing urban populations in the world. Infrastructural, political and economical challenges to meeting the goal are introduced. Reinjection of gas back into wells is not available as an option to gas flaring because a large region for gas production is wetlands (Buzcu-Guven et al. 2012). Wetlands ...

Prices of oil are determined per unit barrel of the crude oil which has been used ever since as the standard measurement of oil prices (Rathmann et al, Page 14-16). The quantity, which is the barrel, is used as a benchmark over which oil prices are determined. Different economies use different criteria for determining the oil prices. Within the North American economies, the Texas Light Sweet is used as a benchmark over which oil prices are determined. It is a type of crude oil that is light compared to other forms of crude oil especially the Brent crude oil. It is also ...

Political Implications of Sino-Saudi Relations to the US and Regional Affairs

Abstract As the largest and most influential nations in the Middle East, Saudi Arabia has been considered a valuable asset to any country wishing to have influence in the tightly-knitted Middle East. Many nations throughout the years have tried to sway the Saudi government and monarchy into entering diplomatic and economic partnerships with them in order to gain access to the region’s oil reserves and establish their partnership but only a few have been successful. One of these successful nations is the People’s Republic of China, which has strong diplomatic, economic and social partnerships with Saudi. China has been ...

The product that I have chosen is Oil. Oil is a natural product that is found in oil wells in large quantities. The nature of oil found in these wells is crude and it has to pass through several refining processes, before the final product is obtained. Crude oil is used to create Jet Fuels, Motor Lubes, Petrol, Diesel, and other important products that are used by both the household consumers, as well as the industrial consumers. According to Economicsonline (2014), the use of Oil by the industrial organizations dates back to 18th century.

Source: Infomine, 2014

The graph above shows the trend ...

This paper presents an overview of the North Sea area. In addition, it provides a history of the exploration of the area, petroleum occurrence and location of the North Sea. Consequently, it provides a description of the Stratigraphy of the southern Northern Sea, Central North Sea and the Northern North Sea. A brief description of the tectonic history of the area is provided taking note of the four major tectonic events that occurred. These were the Caledonian collision, rifting and basin formation as identified in the Carboniferous, Mesozoic rifting and graben formation and the inversion.

Province Geology (North Sea)

Introduction

Discovery of gas in the ...

Introduction

The USA is the largest oil consumer in the world, followed by Europe, Asia and other regions. It consumes an estimated 20 million barrels of oil every day, which is 50% more than the oil consumption of the whole of the European Union with 60% more population density than the USA (Knittel 2012). The oil consumption of the USA is also twice the rate of the same in China. The USA is the largest oil importer in the world, importing more than 13.5 million barrels of oil per day, thereby accounting for more than 63% of the total daily ...

Introduction

For numerous decades, oil has been an important source of the commercial energy throughout the world. The oil industry has always been a vitally crucial industry due to its contribution to the global economy. For this reason, oil is in high demand at all times. Just like the other commodities, the price of oil is determined by the market forces of supply and demand. The oil price fluctuations greatly affect the national economies differently. For instance, while the net exporters of oil suffer economically when the prices decline, the economies of the net importers benefit. Consequently, as one of the ...

Logistics Planning Paper for Olive Oil 2

Abstract This work consists of: 15 sheets, 7 parts, a list of references, 6 figures. In my work I suggest a company which deals with the ocean freight activity. My company will transfer olive oil from Spain to the USA. I will explain why I have chosen Spain as a country of olive oil origin. Moreover, I will pay detailed attention not only on the selected counties but also on the ports involved in the work. The activity and the strategy of the company were discussed in details. Also the appeal of the company to clients was touched upon. This ...

Abstract

The research tests the Independent variables in the hypothesis of rich oil versus less oil countries. The occurrence of conflicts served as the dependent variable, and the countries that have proven access to oil deposits have served as the unit of analysis. To prove this research hypothesis, the research methods that have been done by collecting information regarding the presence of oil deposits in the subject countries and other economic indicators such as the national GDP (Gross Domestic Product), among others. The collection of data focused on: Oil income, GDP, and Fail States. The analysis was done using the ...

GCC, Oil and the Life in the Gulf

The Middle East can be considered one of the most diverse regions in the world due to its rich culture and history that enabled the region to preserve its heritage even in the modern world. Aside from this diversity, the region is also quite known for being the largest oil producer in the globe. Each country in the Middle East is said to possess significant oil reserves, causing many to believe that due to the high demand of oil around the globe, the region is thriving economically. However, while it is true that oil is abundant in the Middle ...

Paper Due Date

Introduction/Background Shell is a Global Energy Company which operates in 70 different countries. The company employs ninety two thousand (92,000) employees world-wide with its corporate headquarters is in The Hague, Netherlands. Shell operates thirty refineries and produces three point two (3.2) million barrels per day. Shell’s mission statement is: “Shell is a global group of energy and petrochemical companies. Our aim is to meet the energy needs of society, in ways that are economically, socially and environmentally viable, now and in the future” (Shell 2014).

Shell operates in sixteen (16) key segments:

- Credit Card Services - Motor Sports - Aviation - ...

- Introduction Oil production and prices in US have been experiencing fluctuation for a long period and there is a need to identify whether the production has a significant effect on oil prices for the period from 1986 to 2005. This analysis could be of interest to the energy administration commission and the government for the purpose of planning for oil price control as well as for the purpose of planning investment in infrastructure for oil production. (Bp, 2013) This will involve testing whether there is a relationship between the variables as well as establishing the nature of such relationship. To ...

Introduction

“Demand for palm oil has further increased in recent years as many developed economies are shifting away from the use of trans fats, to healthier alternatives.”—World Growth (2011, p. 6), The Economic Benefit of Palm Oil to Indonesia The demand for palm oil was significantly high before recent research studies that confirm the fact that trans fats and hydrogenated fats impact negatively on one's health by causing diseases influenced by inflammation. However, after the revelation of the findings of these research studies, leading producers of palm oil, such as Indonesia and Malaysia, felt the need to increase ...

Presently Iran’s economy is largely dependent on oil revenues. The dependence began between 1954 and 1960 when a rapid and sudden increase in the oil prices led to Iranian main export being oil. In fact, between the fiscal years of 1964 and 1978 Iran’s gross product grew at the phenomenal rate of 13 percent. The oil, gas and other petroleum industries expanded by almost 500 percent. Even after the tumultuous events such as the 1979 revolution and the Iran-Iraq war oil the revenue on the oil production remained the principal earner for the government. When one examines ...

Palm oil trees originated in West Africa and were brought into South East Asia in the twentieth century . Around 250, 000 tonnes of palm oil were then exported annually from South East Asia and the number has now increased to 60,000,000 tonnes. At the very beginning, palm oil was used in candles and as a lubricant for machinery. After the discovery of hydrogenation process in Europe, the demand for palm oil increased and after the World War II, it was utilized in many western food products. Palm oil is the most commonly used oil in the world. It ...

Abstract

Fuelled by the protests that marred the 1979 Iranian Revolution, the 1979 Energy Crisis was caused a decline in oil production in Iran. The attack Iran by Iraq under the leadership of Saddam Hussein worsened the situation. Attack of Iran by Iraq almost brought to a halt oil production in Iran. The attack also causes a severe reduction in oil supply by Iraq. The 1979 Energy Crisis had a colossal impact on both the oil producing and oil consuming states. Nonetheless, the oil-consuming states such as the United States were more affected. The reaction of the populations affected by the crisis were characterized ...

Article Review

Article Review

Summary:

It was a general belief for a long time that the demand for oil will far exceed the supply and the world will run out of its reserves of oil. This would lead to the sky-rocketing of the oil price and lead to a crisis in the energy sector. But the recent developments have proved such fers wrong. But, of course, apprehensions of shortage do remain in the future decades. But the immediate fears of the shortage could be warded off due to two major reasons. First, the improvement in technology and massive research and excavation work has lead to ...

Saudi Aramco is among the largest companies producing oil in the world, with operations in oil and gas fields, with Ghawar oil field being its largest oil field. Headquartered in Dahran, East of the Arabian Peninsula. The company’s heart is in oil production, end employing a significant number in terms of workforce, among some of its employees being engineers, mining professionals, and geologists. The company has had a distinguishing factor that has propelled it in terms of research, on establishing better ways of exploring its oil and gas reserves, with the operations being streamlined by an operational, well monitored computer ...

Drilling in the Arctic National Wildlife Refuge

One of the long debated questions in America’s quest for secure energy sources is whether or not to drill for oil in Alaska’s National Wildlife Refuge. The skyrocketing rise in oil prices, global extremism, civil and political conflict in the Presian Gulf region, and recent moves in Congress have placed added pressure on the question of whether to allow oil exploration in the refuge (Kotchen, Burger, 2001, p. 4720). Lying on the northern fringe of the North American continent, spanning from the Brooks Range area to the Beaufort Sea, the Arctic National Wildlife Refuge is the ...