Nobody downloaded yet

Oil controling the world - Essay Example

Comments (0) Cite this document
Summary
The race for world resources is getting competitive day by day, although there are a number of new emerging players, they all seem to battling for one common interest, OIL! At present oil prices have long broken the $100 barrier and it only seems to heading in one direction, UPWARDS.
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.9% of users find it useful
Oil controling the world
Read TextPreview

Extract of sample
"Oil controling the world"

Download file to see previous pages Whether they can't, or they simply don't want to, remains a matter of speculation. (NICOLA, 2008)
The battle for energy is shaping many conflicts of the present century, and those of future, but soaring oil prices not only have an impact on industrial production, but pose a greater threat to the end consumer and economy at large by have indirect effects on food prices, global industry, travel expenses, famine as more and more land is used to grow bio fuels and world food production is decreasing, the list can be endless.
'Unlike the previous oil shocks, which were more and less blamed on the imbalance between demand and supply, the current rise in oil prices is more complicated than just instability of demand and supply. So if one probes into the factors that have played a part in rising oil prices, one comes to a conclusion that there are a number of reasons ranging from a weak dollar to tensions between the U.S. and Iran. At the heart of the problem, though, is the fact that global demand is currently outstripping global supply. Countries such as China and India are thirsty for oil to fuel their economic growth, yet the world's oil-producing regions are producing less oil. In Nigeria, tensions in the Niger Delta region have curtailed production by nearly a million barrels a day. Fears of war between the U.S. and Iran, one of the world's biggest oil producers, have driven up prices further. And some of the world's major oil fields, the Cantarell Field in Mexico, for instance, are yielding disappointing amounts of crude oil this year, for geological, not geopolitical reasons.' (Weiner, 2007)

HIGH OIL PRICES: THE WINNERS AND LOOSERS OF THE GAME
In the political game revolving around the rise and fall of oil prices, there are some profit makers, while some are at the losing end. While it is obvious that the oil companies must be making huge profits, owing the fueling demand and high prices, it is the companies that specialize in withdrawing crude oil, who are the major profit holders.
'Exxon-Mobil, the world's largest publicly traded oil company, recently reported a profit of $9.4 billion. Impressive, more money than any publicly traded company has made in U.S. history.' (Weiner, 2007)
'The traditional big-oil producers, such as Saudi Arabia, Kuwait and other Persian Gulf nations, but also relative newcomers to the oil game, such as Kazakhstan and other nations that border the oil-rich Caspian Sea. Iran, Russia and Venezuela are also big winners. Higher oil prices might embolden leaders of those nations to play a more assertive role on the world stage and, in the case of Iran, deflect international pressure to dismantle its nuclear program.' (Weiner, 2007)
'At the losing end is any nation that is a net importer of oil, such as the U.S. and most European nations. The European pain, however, is blunted by the strong Euro and Europe's fuel-efficient transport systems. China is another loser. It's appetite for oil is seemingly insatiable, and it's already paying more for that addiction. India is potentially even more vulnerable: It uses less oil than China but imports 70 percent of it, compared with 50 percent for China.' (Weiner, 2007)
ECONOMIC COSTS OF HIGH PRICES
Recently, oil prices have leaped over $135 per barrel over night, ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Oil controling the world Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Oil controling the world Essay Example | Topics and Well Written Essays - 1500 words. Retrieved from https://studentshare.org/politics/1529753-oil-controling-the-world
(Oil Controling the World Essay Example | Topics and Well Written Essays - 1500 Words)
Oil Controling the World Essay Example | Topics and Well Written Essays - 1500 Words. https://studentshare.org/politics/1529753-oil-controling-the-world.
“Oil Controling the World Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.org/politics/1529753-oil-controling-the-world.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
How much oil is there in the world
.... Oil was discovered in Mexico in the early 20th century, Iran in 1908, and Venezuela in the World War I and in Iraq in 1927. Unfortunately, this discovered oil occurred in areas either dominated by Britain and the Netherlands: the Dutch East Indies, Iran and British Mandates in the Middle East. By 1919, Britain controlled more than 50% of the world’s proven oil reserves. After World War I, a bitter struggle ensued between countries for the control of the oil reserves erupted. America was exempted from buying oil fields from territories under the British, French or Dutch...
7 Pages(1750 words)Term Paper
Saudi Arabia's Oil Impact on World Economy
...of oil in the country’s economy, the sector is under serious government control. However, due to its leading crude oil producing potential, the country has the ability to alter its production capacity in response to global changes in supply and demand of the product (De Santis and Roberto, 2003). This influence has played a critical role in stabilizing the price of the commodity in the world market for the last thirty years. It is apparent that oil plays a critical role in generating revenues for Saudi Arabian economy, which are essential for economic and social development of the nation. However, the economic progress of the country remains slow, in...
7 Pages(1750 words)Research Paper
A World without Oil
...?A World without Oil When we think about oil, many people think about diesel fuel, which is primarily used for transportation. What most people do not comprehend is that oil has been the foundation of the modern civilizations. It does more than fuelling vehicles as it drives diverse aspects of the economy. Typically, the modern world depends on oil for development and existence. Oil is beneficial in powering motorcycles, trains, cars, planes, and trucks. The impact of the world without oil would be catastrophic since the other energy alternatives would not suffice to drive global economy....
7 Pages(1750 words)Research Paper
How does oil and gas market effect on world economic
...in keeping the prices of oil higher than it would probably be if controlled by competition in a liberal market. However oil prices are at times greatly affected by world crisis or disasters and also speculation by the traders in this multi Trillion industry The petroleum producing countries greatly impact on the global oil prices by regulating production and supply, especially OPEC is very instrumental in regulating production by member states thus affecting supply and demand. The organisation is also involved in marketing of oil of the member states giving them a bigger bargaining power. If traders speculate a reduction in...
4 Pages(1000 words)Coursework
Oil
...to the shift in pricing strategy previously used by global producers. One observation across the world is that Oil products have become the most actively traded item. Despite market concentration noted in New York, Singapore and London in UK, both refined and crude oil has gained trading popularity across the world. In this regard, it has developed a close relationship with dollar strength for each nation and the world at large. The industry is now controlled by private sector and smaller government involvement which explains the volatility in its prices (Clo? 42). The fact that OPEC still influence supply of oil in the...
5 Pages(1250 words)Research Paper
Oil
...The Alternatives for Oil Oil is practically applied and necessary for various activities such as transportation of goods and traveling from different locations or keeping energy needs to maintain power needs of cities and towns. Oil is also a resource which has its critical importance in politics and economy. Countries go to war because there is the need to control oil resources which other nations might have. Most of the world’s most powerful nations have oil in their foreign policy agenda, and the Oil and Petroleum Exporting Countries (OPEC) have a strong hold of on the world’s...
1 Pages(250 words)Essay
Oil
...wrangles that have not resolved to date, but continues to result to other complicated predicaments in the globe like terrorism. Terrorism besides other problems like piracy usually emanates from oil interests (Hitchcock, 2010). America’s plan to establish association with these states did not receive a light reaction, since many saw it as a rapport intended to control and benefit itself at the expense of the owners’ reserves. Hence, wars that have persisted to the present erupted, for instance, invading of Kuwait by Iraq, which prompted America then under Bush intervene promptly (Ghouri, 2001). America claimed that its intention was to ensure there is peace amid those states and shun any interruptions...
5 Pages(1250 words)Research Paper
Oil
...Nonrenewable fuel Origin and formation of petroleum (oil) Petroleum is formed from organic aquatic sediments suchas lipids, proteins and carbohydrates which are derived from algae and zooplanktons (White, 2006). These materials get deposited at the bottom of seas or lakes. As more sediment get deposited, the materials are exposed to tremendous pressures, and the through compaction, microbial action and chemical reaction, water is forced out material, and the carbohydrates, lipids and proteins are broken down to form kerogen which is waxy in nature (White, 2006). Bitumen is also formed in this step. This process is diagenesis and is considered the first step of petroleum formation (White, 2006). The second step of...
2 Pages(500 words)Coursework
Oil
...which is the largest crude producer in the continent. There was such a big gap between the rich and the poor because of corruption in the oil industry in Nigeria (Roberts, 2004). Oil on the other hand has had a positive influence to all the countries that have mined it. Despite all the negative impacts of oil, countries have been able to develop and upgrade their infrastructure. Third world countries have been able to export their oil to developed countries and have been able to use this to put up infrastructure like roads, schools and even hospitals. Political influence on oilOil has been referred to as ‘power’ in...
3 Pages(750 words)Essay
Controling
...for participation among others. Question 2 Earthbound Trading Company has realized that financial Control is one approach that can help it survive and continuously grow in the present world of business. Ideally businesses need to control financial resources at their disposal. Earthbound Trading Company financial resources include revenue generated, shareholders’ investment, detained earning, and working capital among others. The company has adopted a number of approaches such as financial statements, ratio analysis and break-even analysis to accomplish financial control. In order for a firm to make strategic decision, financial statements are used. The greatest...
1 Pages(250 words)Admission/Application Essay
sponsored ads
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.
Let us find you another Essay on topic Oil controling the world for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us