We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Commodities - Essay Example

Comments (0)
Summary
In his book, The Prize: The Epic Quest for Oil, Money, and Power, Daniel Yergin has demonstrated how oil played crucial geo-strategic, social, political and economic roles in the 20th century. …
Download full paper
GRAB THE BEST PAPER
Commodities
Read TextPreview

Extract of sample
Commodities

Download file to see previous pages... The immeasurable significance accorded to oil, in all the forms it occurs, by political empires can be traced to as early as the first decade of the 20th century when governments started showing interest in private oil companies. On behalf of the British government, Winston Churchill proposed a bill to the House of Commons in 1914 that sought to acquire a 51% controlling stake in the Anglo-Persian oil company at a cost of £2.2 million. A hidden motive can be seen in this move because the acquisition agreement further stated that the government would install two directors in the company that would have no hand in commercial activities. Rather, their only role would be to sanction political matters and those relating to Admiralty oil contracts. Fuel oil prices were already rising occasioned by the rising need of an industry that relied on oil-powered propulsion. It was the view of some members of the House of Commons that the cause of the price increase was a new special use found for oil, and not some rings or trusts, which was also contributing to its shortage. From the notion of a new and special use being discussed in the House, one can easily link oil to politics. It was soon established that the “use” was in the form of other countries stocking up on fleets of oil tankers in case of war. From history, we learn that Britain had an abundance of coal at the beginning of the 20th century, but no oil reserves had been discovered within it by that time. It then becomes apparent that the decision to acquire private oil companies was informed by the technological advancements of the Anglo-German maritime prowess. Only oil, and not coal, could provide the edge crucially required in terms of resilience and speed to assist the British maintain the naval supremacy that the Germans were so relentlessly working towards. Here, it can be seen how oil had become a key strategic commodity in national policy. While the Anglo-Persian deal assured the firm a variety of secure markets and capital, it, more significantly, provided a steady oil supply to the British government and guaranteed its survival, albeit only for a foreseeable future. This is further confirmed by Churchill’s revelation that the acquisition’s objective was to keep the navy prepared. A critical examination of that objective brings to light the fact that the precedence of investing oil in national security over a flourishing market was legitimized just before WWI. This is even strengthened by the way advocates of national security within the British government supported the limiting of oil in the market. Moving toward WWII, it is apparent that it was an affair between industrial powers. Therefore, nations that had no oil were greatly disadvantaged. For ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Commodities, mining, FDI, and the awakening Chinese dragon. Where next for China
8 Figure 2 p. 12 Figure 3 p. 15 Figure 4 p.16 China: Dragon, Mining, and Manufacturing Sectors Introduction China’s gradual opening of her doors to international trade is the definitive approach that awakens the slumbering dragon of Asia. Some scholars (Sachs and Woo 1993) have considered China’s economic growth in the past twenty-five years as a miracle, an extraordinary feat that is unique only in China (Luo and Burton 2008).
20 Pages(5000 words)Essay
Supply and Demand: how They Determine Commodities' Prices
Firstly, it is going to cement the argument, which is usually the fact, that the fundamental thing that determines the price of a commodity is that commodity’s supply as well as demand by stating the laws of demand and supply. The law of supply says that if the price of a commodity rises so will the quantity supplied of the same commodity.
4 Pages(1000 words)Essay
Women as commodities of colonialism & capitalism
During this time, cultural assimilation, social reform, education and gender movements were imminent, according to which women were considered the key commodity with regard to the latter.
4 Pages(1000 words)Essay
Commodities Marketing
One major risk that businesses have to cushion their business from is the risk of price fluctuation. The risk of price fluctuation goes both ways, which mean that the business will have to cushion itself from the risk of increased cost of its raw materials and the risk of future reduced prices of its products.
6 Pages(1500 words)Essay
Credit Crunch and Commodities Market
According to the report the credit crunch will lead to a fall in stock markets in the US. International organizations may witness a drop in their stock prices. The credit crunch may lead to greater fluctuations in exchange rates and interest rates and this will mean that international organizations need to rethink their risk management policies.
26 Pages(6500 words)Essay
Critically assess the attractions of commodities as an asset class over the short and long-term
Crude Oil, Heating Oil, Natural Gas), any foreign currency etc. that can be considered for investment. This includes “soft” commodities, or perishable commodities, which
5 Pages(1250 words)Essay
Global Trade and Commodities in 15th century
This paper seeks to discuss the world trade and commodities in 15th century with a particular focus in world modern history. The Portuguese exploration of the 15th century saw a discovery of various trading
3 Pages(750 words)Essay
Commodities & Fashion outline
The essay analyzes the fashion outline and Commodities. This has also enhanced the development of the urban center and the social classes. In romantic style there is no specific or fixed restriction on the laws relating to beauty and the property. Also the neoclassic style define the human nature which has a lot of wants.
1 Pages(250 words)Essay
Advertsing of commodities and cultuer
According to Forker (2012), commodity advertising is a rigorous process that entails a lot of involvement in order to get market recognition and a constant number of
3 Pages(750 words)Essay
Change in Food pricesin the last 10 years(choose one of the food commodities)
This paper uses data from the Food and Agriculture Organisation (FAO) under the auspices of the United Nations (UN) to examine changes in food prices in the last 10 years. Particular emphasis is put on
4 Pages(1000 words)Essay
Let us find you another Essay on topic Commodities for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us