Essays on Oil Shale

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 ...

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 ...

Energy is one of the most important components of our day to day activities. Gasoline, diesel, kerosene, propane and other products are extracted from fossil fuels through a number of systematic processes and are used to drive automobiles, aircrafts, ships and trains. Despite their importance, these fuels lead to the emission of greenhouse gases into the atmosphere and results in global warming, which has been on a steady rise for quite some time. A few Economic Crises have occurred in the recent past due to depletion of oil reserves. The latest brands of hybrid and electric cars are the ...