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Why are we facing a severe drop in oil price Is it a question of demand not catching up with supply, or are we experiencing an economical cold war Who is benefiting at this level, and is it sustainable - Research Paper Example

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Holding a history of centuries, oil has emerged as an autonomous tyrannical source of impact on the world’s economy since the birth of revolutionary growth of industrialization in 19th century. With the emergence of modern human and commercial needs as driving forces, the…
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Why are we facing a severe drop in oil price Is it a question of demand not catching up with supply, or are we experiencing an economical cold war Who is benefiting at this level, and is it sustainable
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Extract of sample "Why are we facing a severe drop in oil price Is it a question of demand not catching up with supply, or are we experiencing an economical cold war Who is benefiting at this level, and is it sustainable"

Download file to see previous pages The outcomes of the dominance of oil over the world are enjoyed by the father economies of the commodity in monetary as well as supremacy terms. Due to the worldly accepted supremacy of blessed oil producer economies and vulnerability of other economies towards agreement to dictated terms, the prices of said commodity always peaked higher after operative birth with huge fluctuations during developed high supply/demand surges and political moves of the globe as depicted below in terms of today’s currency.
Due to the said implications above, the industry witnessed crisis in many regards including political to dominance, reserves to shortage and in terms of prices. Not only supplying but also consuming economies’ actions were the reason of crisis for most of the times. OPEC’s foundation in 1960 was a strategic move by large suppliers of the commodity to balance the unguarded demand structures, disparity of distribution and supporting aid for emerged economies after reformation of the world.
Cautious consideration of the said scenario, dependability on a handful of oil producers and vulnerability to be dictated for running the gauge of economy many of the developed economies are urged to discover other competitive energy sources as cheaper options including coal and gas as an ancient source as well as emerging sources in terms of recycled energies.
Eating the large share of a sole energy player the resources are gaining wider concerns of countries all over the world with a considerable share in current energy mix of the world. As depicted, the share of oil in world’s energy mix is declined to 29.1% only in 20153 from 41% in 19654.
However, still the role and dominancy of oil cannot be challenged for upcoming decades due to highly increased demand of energy from developing economies. As reported, the growth of world’s population will be 1.3billion heads by 2030 as well as the demand for energy will be increased 1.4% ...Download file to see next pagesRead More
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