Oil Essays Samples That Help You Write Better, Faster & with Gusto

Analysis on the Article ‘Who Will Rule the Oil Market?’ by Daniel Yergin

Summary
Most people wonder why the price of fuel has steeply declined. In the past, one would expect that after a few price drops, the price would bounce back usually more than what it has marked down. However, today, the expected bounce back is not happening. Today, fuel prices are unusually low. While everyone is quite happy with the declining price of fuel, the oil industry is experiencing a disruptive scenario. In the midst of an unusually low oil prices, Daniel Yergin offers an explanation and a predicament of who will benefit most from the seemingly remarkable oil price Continue reading...

Background of the company:

British Petroleum is a London based multinational petroleum company which was founded in 1908. According to the history of the British Petroleum the oil was founded in rugged part of the Persia. The oil had been discovered after the very difficult and long research. Currently British Petroleum is operating its business in many of the countries of Europe, Asia Pacific, America, Africa and Middle East (BP, 2015a). The major job of the British Petroleum is to find and extract the oil and gas in order to produce fuels, lubricants and petrochemicals. Moreover, British Petroleum has a strong long term Continue reading...

Just as any other energy resources play a pivotal role as means of economic development, negotiations, and political pressure, so too does oil; still, when the price for Golden Gold plummets for a number of economic and political reasons, its versatile role becomes marginal. Some countries stand to lose following the decrease while others are in line for a windfall. Venezuela and Russia, countries with extraction economies, known for the paradox of plenty or resource curse, suffer the most, as do transit countries receiving profits for having oil transferred through their territory. Extraction economies are dependent on oil revenues, Continue reading...

OPEC cartel has struck the oil fair for close to four decades. An unbalanced cartel signifying the welfares of the key oil exporting countries, OPEC has at intervals been operative in driving up the oil price and, thus, permitting the export states to obtain a noteworthy premium netted by national oil firms on behalf of their potentates. Regularly, this implies a transfer of prosperity from oil consuming states to oil-producing countries tallying hundreds of billions of money in terms of dollars compared to what the contending market price of oil would propose. Once the cartel has nosedived in its Continue reading...

In a recent article in The Economist, “Cheaper Oil: Winners and Losers”, the rapid fall of the price of oil is predicted to help the enormous economies of the U.S. and China, but hurt oil-exporting countries like Russia and Venezuela, and have very little benefit for most of the world who live in poverty (“Winners and Losers”, 2014). In the last six months, oil prices have plummeted, sending shockwaves throughout petroleum producing countries (EIA, 2015). The U.S. has seen the price of a gallon of gas cut in half and the countries that rely primarily on oil exports are Continue reading...

Almost every sector of the economy is affected by changes in oil prices. This paper discusses the impact of reduction in oil prices caused by increase in supply. The paper also suggests policy recommendations that can help regulate prices so as to achieve a stable economy.

The outline of my argument is:

Low oil prices
i. Change in demand and supply
ii. Reduced revenue by producing organization
iii. Reduced consumer and producer surplus

Closure of key organizations

Lead to unemployment
Loss of tax by the government
Unemployment
Social crimes
Domestic violence
Loss of direct foreign investment
Low investment by other countries
Loss of foreign exchange
Reduced exports
Loss of Continue reading...

Business

This paper is aimed at analyzing the global energy industry with a focus on oil and gas segment using a Porter Five Forces framework. The oil and gas industry has many subsegments and a variety of products, but some level of generalization can be applied to describe the market within this framework.

Diagram of Porter’s Five Forces for the Industry

Barriers to Entry
The oil and gas industry is very attractive in terms of profitability (Aubert & Frigstad, 2007), but the barriers to entry are high. The major global oil and gas market players are mostly integrated international companies that benefit from economies of scale. To enter this Continue reading...

The Deep-water Horizon oil spill was an oil disaster that occurred in the Gulf of Mexico from 20th April 2010. This project was owned by BP Oil Company and was operated by Transocean Company. The explosion claimed eleven out of the one hundred and twenty-six staff who were stationed at the rig. The oil spill was considered as the largest marine oil spill in the history of the petroleum industry. Although the U.S government tried to contain the flow, there is still evidence of the continued oil leak in areas such as in the beaches of Louisiana, the Tampa Continue reading...

Background of Food Quality Control in China

In the food industry, there are some manufactures who justify that food products saying that there foods are not bad for a healthy life. It is the bad diet that actually harms the general health of an individual. They present this justification because, to every economy, the health of its economic agents has become a critical issue. In this view, this research paper is written to make analysis of quality problems found in food market of Chine. The description will be provided in the next section. It is necessary that every individual should distinguish between unsafe products and practices Continue reading...

Impact of Oil industry on Middle East

The early 20th century is the time period of transformation for the middle east region of the world, and indisputably, the accreditation belongs to the oil industry and the blockbuster revenue it brought into middle-east nations.
However, the oil industry did not witness a boom overnight, rather by the end of 19th century; petroleum supplied only 4% of the world total supply. But as the world economy embarked on a steep growth trajectory, dependence on petroleum grew significantly, and with the discovery of vast oil reserves in various middle east countries, their further utilization and exploration, this part of Continue reading...

The recent fall in the prices of gasoline and natural gas has proved all the past apprehensions about oil depletion and the ensuing rise in prices to be wrong. The plunge is continuing for some time and its magnitude has also taken the world in surprise. The world has experienced a number of oil shocks before which has led to uncertainties in the prices and has created turmoil in the energy sector. But the picture today is quite contrary to what we have seen and believed before. In this analysis we look deeper into the causes of changes in Continue reading...

Most modern economies are driven by the price of energy, or more specifically, the price of oil. Oil is needed to be productive in virtually every industry, which is why there is such a high demand for it. Because of this, oil companies have learned how to best maximize profit and earn billions of dollars every year. Many Middle Eastern countries are profitably simply because of oil, and many domestic oil companies in America do just as well. However, these oil companies are generally not viewed all that favorably. According to a recent poll, more Americans hate oil companies Continue reading...

Geography deals with the study of the weather, the earth, the rocks and their formation, and the geographical processes. However, geographical scenes could have either a positive or a negative impact. For instance, the earthquakes always affect the citizenry negatively by causing deaths and displacing the people. On the other hand, the migration of animals from one region to another promotes tourism. The geographical scenes, for example, the ancient rocks and mountains also attract tourism in a country leading to more increase revenue from the tourists thereby an upsurge in the economic growth of a country.
Thesis statement: an Continue reading...

Introduction

The world economy is very dependent on the price of a barrel of oil. Some economists argue that the plunge in the oil prices is primarily a good thing for the economy while others claim that it is necessary not. The oil prices have continued to fall sharply in the recent times. The question numerous people ask is whether this will continue. Anatole Kaletsky in his article titled, “What is the future direction of oil prices?” uses economics and history concepts to explain whether the oil prices will continue to fall in the future. The world oil prices have Continue reading...

TransCanada, a Canadian company, hopes to start constructing the northern part of a pipeline that will transport tar sand oil from Alberta in Canada to the Texas Gulf Coast region (“Friends”). Due to the fact that the pipeline needs to cross an international boarder, the company will first require presidential permission from the incumbent government. The proposal of establishment of this pipeline has gained both criticism and support with opponents citing that it will pose a major threat to the environment (“Friends”). Proponents on the other hand argue that it create energy security, will be of economic benefit, and Continue reading...

ID Number
Engineering is defined as a process of developing and utilizing artifacts, such as, machines, which prolong the biological capabilities such as engines, dams, computers, and radios. Engineering ethics is the ethics involved in these processes. Any machine is a form of modifying nature, the development of something that never existed before or something that would not have been around in the absence of human intervention. Hence, the engineering ethics is likewise the ethics of nature modification. People are not the only ones the modify nature, yet they are the activity that changes the nature. Examples of these Continue reading...

About the company:

Founded in the year 1926, Schlumberger is the world’s largest oil-field service company. Headquartered in Texas, United States, the company has its principal offices in other areas such as Paris, London and Hague with a total workforce of 120000 employees. The company operates through three business through business segments, Reservoir Characterization Group, Drilling Group, and Production Group.
Schlumeberger is represented by its board of directors headed by Chairman, Mr. Paal Kibsgard and CEO, Mr. Simon Ayat.

About the industry: Oil and Gas equipment services

Schlumberger operates in Oil and Gas field services industry which is also known as the ‘’Unsung masters of the oil industry’’. The Continue reading...

Business

Company Profile
British Petroleum is one of the biggest oil and gas companies in the World, being the global #3 publicly traded integrated oil company (Hoovers, 2014) and ranked the 4th among the major oil and gas companies by Forbes magazine (Murphy, 2014.) Founded in 1909, this global integrated oil and gas giant with headquarters in London, United Kingdom, provides its clients “with fuel for transportation, energy for heat and light, lubricants to keep engines moving and petrochemical products used to make everyday items” such as packaging, clothes and paints (BP p.l.c.) BP’s business is organized in two Continue reading...

Background information on current issues in the industry

The gas and petroleum industry experiences continuous and huge rates of competition concerning the labor from skilled individuals. The main reason revolves around the expanding nature of the operations and the widening gap between costs. The employee segment also ages with time leaving the sector vulnerable to lack of enough workforce. The industry faces challenges since only fewer individuals with the required skills apply for the available jobs. They exit their positions whenever they receive better opportunities from other lucrative sectors creating the vacancy. The oil industry in Canada has experienced considerable discounts for its crude oil which has Continue reading...

It is a little complex to actually pinpoint the main cause of the herring population crash in Prince William Sound, Alaska. Prior to the oil spill by Exxon Valdez in 1989, the herring population was increasing in a steady rate. The aftermath of the oil spill, however, resulted to very low population which was felt heavily in 1993. It has been hypothesized that the oil spill is the big factor in the reduction of fish population. After the oil spill, phytoplankton population (which are food to herrings and other small marine organisms) is greatly reduced due to reduced sunlight Continue reading...