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Oil Industry - Essay Example

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Summary to essay on topic "Oil Industry Essay"
One industry that is grossly affected by the macro economy is the oil and gas distribution industry. The industry's main task is to transport and distribute the natural resources that our country needs to run on. The industry is responsible for transporting, refining, and distributing all of the natural gas and oil that is needed for every day usage by customer and business needs.
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Download file "Oil Industry Essay" to see previous pages... Both the upstream and the midstream sectors are concentrated only in certain parts of the world such as Russia or the Middle East while the distribution industry which is part of the downstream sector is spread throughout the world (Gary & Handwerk, 1994). Therefore, any changes in the global market of oil can either favorable or adversely affect the distribution industry significantly.
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The unpredictability of the global market can also lead to many changes inside of the distribution industry, and the rising cost of fuel has only put strain on the already straining oil distribution industry.
One of the industry's strengths is that it is among the first in line of industries affected by oil prices and therefore it can suffer minimally as compared to other industries when it comes to changes in oil prices. Because it is the first hit by the changes, it is also the first that can adapt, and the first to be able to quickly overcome the changes to try to lessen losses based on the change in oil prices. ...Download file "Oil Industry Essay" to see next pagesRead More
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