Causes and effects of fluctuation in oil price

Causes and effects of fluctuation in oil price This report discusses about the most essential energy resource and the core in economics that is oil. Since it is now used in a variety of ways to operate any machines for everyday life especially automobiles, its needs and wants has been grown rapidly. However, such unsustainable and finite amount of oil now does tremendous matters to global economics. When it was not fully used for running machines, people in history used for constructions and medicines. However, with its discovery of many usable ways such as lighting, the wants of oil has been rocketed. After many years have been used oil for running machines and other fields, economists found that oil price is actually affected by some crucial reasons and events occurred. Following this, it explains with examples about how such natural disasters, wars, recession, and oil crisis can cause the oil price changed. Also, it talks about effects as what would happen to politics and economics after the fluctuation in oil price. Since the re is high in demand of oil and limited supply, the price of oil is very high. Also, environmentalists claim that even it has replaced coal successfully in running machines and automobiles, it still emissions harmful pollutant to nature. Therefore, many researchers have been made a research for an alternative energy source to oil. Actually, there are many renewable energy sources found to use as alternative energy to oil after it is depleted, but it still has to study more on it due to new technology required to be usable. Hence, there are many arguments about whether we should keep oil as main energy source or change it to new energy source to lessen the current oil price and care about remaining amount of crude oil even it costs a lot. We infer that the oil price fluctuation can make significant changes economically, socially, and politically. We also think that searching for alternative energy sources can help the environment and maintain more stable economy. 1.0 Introduction The oil, which is used for everyday life, is just as important as water and air. Oil is used not only for running automobiles and producing electricity but also producing plastics, clothes, and electrical goods as well. Thus, we could say oil is a fundamental material to produce goods we need in everyday life. This research paper will mainly discuss oil and recognize how the money in exchange for oil, in other words, the oil money affects global economy. Also, we will see how other economists think about viable alternatives to oil in future. 2.0 History of Oil use Oil has been known as one of the most significant and essential energy sources used and progressed for numerous purposes since thousands of years. Despite modern major oil use is to run automobiles such as cars, buses, trucks, and ships, ancient people used in many other ways. According to history, ancient people used pure oil not only as a material for binding materials and as a sealant for waterproofing various surfaces but also as worked materials to pave asphalt on walls and roads. With its numerous effects has brought economic growth, the world started to recognize the importance of oil use. It was also discovered that the Chinese were the first knew the importance use of oil and to discover underground oil and drew from the wells in order to use for lighting around 500 B.C. Ever since that time many countries has begun to find oil wells around the world due to the important roles for the use of oil (BERA The Oil Gas Industry). Moreover, oil development has been quite active s ince long time ago. For example, Poland was the first country in the world trade the oil that was in 1853, and then comes Romania in 1857. In North America, the first commercial was in 1858. In 1959 Titusville was very famous for its oil well production of twenty five barrels a day. The U.S started to produce millions and millions of barrels during the past 50 years after the first production. For example; 2000 barrels in 1859 after 40 years 57 million barrels were produced in a year and still increasing until now. (Wilson, 2010) 3.0 Causes of fluctuation in oil price Knowing the reasons for oil price fluctuation is very important; since knowing such information can help the investor to invest at the right without any risk. It is very perplexing to know the exact cause of fluctuation in oil price; however, we will highlight the main causes and effects of phenomenon. 3.1.0 Causes There are four main causes change oil price; hurricane Katrina, middle-east wars, recessions, and oil crisis in the 1970s. 3.1.1 Hurricane Katrina Hurricane Katrina in 2005 caused the oil production in the Southern Gulf Coast in the U.S to stop completely, and due to the demand and to the lag of oil production; the price of oil barrels increased suddenly to $70 per a barrel. The prices declined when the U.S government decided to release 30 million oil barrels from the Strategic Petroleum Reserve (SPR) (Editorial Dept, 2009). 3.1.2 Middle East wars The wars happened in the Middle East between Iraq and Afghanistan in July, 2008 caused the prices of oil to increase to more than $136 per barrel. The Middle East is known that it is one of the richest regions of oil. Therefore, due to the high prices of oil at that time, the demand for oil dramatically decreased; people started to demand less and save money. Due to this low demand, the prices of oil started to return back to normal (Editorial Dept, 2009). 3.1.3 Recession Recession caused the oil prices to change in two ways. First, the recession caused the employees to work lesser, and some even started to work from their homes; therefore, they are not demanding often for oil (e.g. transportation). Hence, the prices of oil decreased due to the low demand. Secondly, the demand for other products (e.g. electronics) decreased due to recession. The manufacturing countries which supply these products started to supply less since they started to lose proifit, so less shipment of products occurred less use of oil and this caused the prices of oil to decline (Editorial Dept, 2009). 3.1.4 Oil crisis in the 1970s The prices of oil in the Middle East were low, most of the developed countries such as the U.S decided to rely more on importing the oil. The Organization of Petroleum Exporting Countries (OPEC) decided to limit their production of oil in order to make the higher oil price (Wright Boorsw, 2011). 3.2.0 Effects There are two effects showing what would be likely results of politics and economics after the changes in oil price. 3.2.1 Political effects Because of the negative effects of oil price fluctuation in the United States, the citizens decided to vote for Barack Obama in the 2008 elections. (Crenshaw, Maniam Subramaniam, 2010). 3.2.2 Economical effects There is a relationship between oil price fluctuating and income rate. For example, when the price oil increase, the income rate of the labors decrease in order for the industry to make up for the loss and make profit. Also, when the prices of oil increased, some storeowners couldnt pay for the gas deliveries and they had to shut down their businesses. Not to mention the increase of shipping fees, transportation, and food prices (Crenshaw, Maniam, Subramaniam, 2010). 4.0 Alternative energy sources to Fossil Fuels Countries around the world are reconsidering other energy sources to oil due to its increasing prices, polluting waste and the remaining amount left of it. Oil is formed over millions of years from the remains of animals and plants, covered with a layer of sand and silt. Crude oil and petroleum are also known as rock oil, developed by heat and pressure on the layers. Today oil is used to fuel vehicles, heat houses, and make numerous products ranging from medicines to plastics. However, a great pitfall of oil is the emission of harmful gases when burnt. Before the age of oil, coal was the dominating fuel, as stated by BBC (Alternatives to oil, 2000).Not only was it a reliable provider of electricity, it [was] also an essential fuel for steel and cement production, and other industrial activities (World Coal Association, N.D). However, it lost its popularity due to the fact that a large amount of poisonous gases, like carbon dioxide and sulphur dioxide are produced in its burning process, contributing negatively to the change in climate. Moreover, nuclear power is said to be friendly regarding the global warming. For example, the United Arab Emirates has been depending on oil for a very long period as a main income generator. However, the emirates are trying their best to stimulate other inflows from tourism, manufacturing and plans for research and development of new energy programs since they know that oil would eventually run out one day. According to the Emirates Nuclear Energy Corporation (ENEC), the development of nuclear power plants in Abu Dhabi will help serving the growth in energy needs in the future. On the other hand, some countries fear to take the risk of having nuclear plants because of the rising rate of tragic accidents. The recent leakage of nuclear and radioactive substances in Japan, due to the 8.9 Richter scale earthquakes, is an example. Technology innovations are creating a path to the usage of new, more environmentally sociable fossil fuels. Renewable fuels include hydro-electric energy, solar energy, biomass energy, wind energy and hydrogen. Renewable fuels promote countries to use nature and a high technological plan to produce power. In Norway for instance, hydro-electric power is used to the fullest as reported by BBC (Alternatives to oil, 2000). Wind and wave power are another promising fuels. Solar power is coming on by leaps and bounds. There are already photo-voltaic cells which will provide power on a cloudy à ¢Ã¢â€š ¬Ã‚ ¦ winters day, or even by moonlight (Alternatives to oil, 2000). However, the hesitation and reluctance of countries to use such power sources falls under the aspect of price. A lot of money will be required to build wind turbine, solar panels, and hydrogen in conversion of technologies. All in all, there is a wide variety of alternatives to oil, however the users should evaluate the benefits and drawbacks for each power source and the effects generated to the society from the global view. 5.0 Conclusion To sum up, our world consists of variety of sources. Oil is one of the most important sources that are used in todays life, yet it is a non-renewable source. Therefore, looking for alternatives for oil can help stabilize economy and environment. Furthermore, due to some environmental and humanistic behaviors, oil prices began to increase and decline; this affected the world in many ways economically, politically, and socially.

Cultural Oppression Essay

Women has come a long way from being the gods of the feminist society, oppression from the paternal Roman Catholic, and the continuous struggle to uplift itself from the discrimination in out society. Therefore it is not correct to say that â€Å"The world has evolved in a huge way, but for the groups that remained oppressed it does not seem like evolution has even touched them. † It seems a very narrow way of putting the struggle of women from centuries of oppression when in fact before World War I there were no women in the military, no women in college, no women in office, and no women in the library. Same goes for the homosexuals. There are already four states that allow same sex marriage in the United States and the world is not so unforgiving 50 years ago when homosexuals where killed. Indeed, homosexuals and women have come a long way and it is rather fitting that we recognize them in their accomplishments in pursuing their common good. I agree with Miss Johnson. This society is so bent on discrimination based on color when in fact African Americans are just as able as Caucasians in getting every job done. As long as there are equal opportunities for both races then there won’t be some dumb Joe lying around. We claim to be the most advanced nation in the world but it seems we still have prehistoric traces of slavery in our society. We still think that just because African Americans came to America as slaves then they are a backward race. What the people of America should remember that the very same slaves built this nation with their bare hands and they wouldn’t be slaves had we not made them that way. It seems that we have a double standard when we talk about freedom and liberty for all Americans. That shouldn’t be so because history has proven that it’s never a war of colors, it’s only a war of interests and power. The author mentioned about the struggling African Americans who are in the upper class. Well, money can’t erase prejudice from people especially the prejudice that is rooted in our history. That’s why the weak should fight for its liberation because nobody will save them from it but themselves. Reference

Marks and Spencer’s Company Analysis Essay

Marks and Spenser is the largest retailer in UK, and 43rd in the world. The company owns more than 1103 stores, of which 703 – in the UK, and the remaining 400 in 44 other countries (Marks & Spencer, 2013). M&S has been known as a manufacturer of clothing, but since the 2000s, the company developed in other areas, including: food, household good, financial services. In 1998, M&S became the first British retailer profit of which exceeded  £ 1 billion (Bevan, 2002). This essay will focus on origin and key developments. Also, it will touch on strengths, weaknesses, opportunities and the threats the organization faces. M&S started as a small household shop which established by Michael Marks in 1884. Because he frequently traded with a supplier, he knew Tom Spencer who was a cashier in this warehouse. It is the person who invested ï ¿ ¡300 into M&S to further expand (Harvey & Walker, 2012). From this year, the small shop began to trade under the name ‘Marks and Spencer Penny Bazaar’. Simon Marks, Michael’s son, took over M&S in 1916. In order to be outstanding from fierce competition, Simon went to America for gaining experience and absorbing useful ideas. During the period from 1930s to 1940s, M&S witnessed a rapid growth. In 1927, M&S went public. Between 1929 and 1939, its profits rose by about 21million to nearly 25 million. At the same time, M&S introduced the concept of CRS, which is one of the key determinants for its success. CRS is responding to the needs of a company’s stakeholders, especially staff. In the late of 1940s, the Second World War collapsed. Britain went through a huge recession. A considerable number of people live in impoverished, the gap between different classes broadened. Some people showed their anger by ruining infrastructur es and stores. The implement of CRS improved the condition of employers and established good image. As a result, M&S recovered quicker than other companies. According to Marketline, 2012, quality is a major strength of Marks & Spencer since the company was founded. It makes Marks & Spencer recognised as a high-valued company which offers its outstanding quality goods as well as reasonably priced products. Consequently, this results in advantages regarding foods over its competitors such as Sainsbury and Tesco. A wider range product than other rivals is also the key of Marks & Spencer’s success; namely, menswear, womenswear, childswear, household goods and foods. By its strategy, it contributes company to launch specific products to respond consumers’ needs and satisfaction, for example gluten-free bread and cakes for egg-allergic patients. A variety of foods is the essential part for Mark & Spencer with regard to company’s profit, with 51% of total revenue (Marks & Spencer, 2013). Conversely, Marks & Spencer is heavily criticised in terms of clothing and stocking. Clothing design is one of the most factors in which customers are likely not to buy because of its old-fashioned design compared to other up-to-date clothing retailers; Top-shop, Next, Zara (FT, 2012). It significantly leads to the decline on clothing business for Marks & Spencer. Meanwhile, stocking was an area that M&S has to improve in the way which the company cannot meet the demands of its customers. The shortage of clothing causes customers losing their confidence in Marks & Spencer, and therefore, has an impact on somewhere, especially clothing sales (FT, 2012). According to M&S company website, Shwopping is a brand new environmentally commercial marketing strategy, which could be used to get a new cloth by changing an old one. Owing to this programme, M&S is able to collect as much second-hand clothing as it could, taking advantages of these materials to make new stuff; or donating them to poor regions. For M&S, this is a â€Å"one stone, three birds† commercial opportunity, as it may enjoy being a friendly-environmental company which contributes to a positive reputation; also it is likely to get a cheaper resource to make clothing; in addition, a growing number of customers would like to shop M&S, resulting from the â€Å"buy one, get one† culture. On the other hand, M&S’s clothing department is facing a huge risk. Hickman (2012) states that although M&S is popular with older women, it is losing the market for younger generation due to its out-of-date style. That is because there are many more fashionable shops on the high street, such as ZARA, H&M and NEXT. According to Butler (2013), M&S has witnessed a drop of 3.8% in revenues of clothing and homewaes in the last three months of 2012. Unlike M&S, for example, ZARA has created a â€Å"fast and cheap fashion† culture for all ages (Hickman 2012). As a result, there is a strong likelihood for M&S’ managers to think about ways in order its old-fashion image. In conclusion, it has been seen that Marks and Spenser is a successful company that has always offered best quality products, which is how it was able to keep afloat and succeed. Also, It has been shown that recent years Mark and Spencer has been faced difficulties with customer loyalty and â€Å"not fashionable† trends. In order to keep its unique position in the market, M&S needs keep a solid hold on its values and principles, but at the same time leave some space for change. Also, M&S should expand to new market places to countries like China and India, and consider essential moments about that a different market will always have different demand. Finally, Marks and Spenser should keep up with the latest fashion trends, constantly reviewing interior design of its stores and sustain the feel good factor of shopping in M&S.

Quality of Bottled Water Produced by Water Refilling Station

QUALITY OF BOTTLED WATER PRODUCED BY WATER REFILLING STATIONS TABLE OF CONTENTS APPROVAL SHEET i ACKNOWLEDGEMENT ii LIST OF TABLES v ABSTRACT vi CHAPTER I INTRODUCTION Background of the Study 1 Related Studies 3 Statement of the Problem 6 Objectives 6 Conceptual Framework 7 Significance of the Study 9 Scope and Delimitation 9 Definition of Terms 9 CHAPTERII METHODOLOGY Research Design 11 Sampling Design 11 Research Instrument 11 Data Gathering Procedure 12 iv CHAPTER III PRESENTATION, INTERPRETATION 15 DISCUSSION OF RESULTS CHAPTER IV SUMMARY AND CONCLUSION 28†¦show more content†¦2 It may be true that water produced by WRS’s is better than water produced by the local water system as reported outbreaks associated to waterborne diseases have never been linked with water produced by WRS’s. However, the City Health Office has received complaints like noted floating insect inside the WRS’s 5-gallon bottle. Despite this, there has been no illness linked to the reported event. However, this brings to focus the need to maintain quality and safe drinking water from WRS’s. Frequent monitoring and evaluation must be done to identify risks of producing unsafe water (Craun et al, 2002). These procedures must be done in every public water system such as WRS just like what Zamboanga City Water District (ZCWD) is regularly conducting. In Zamboanga City as well as in other national cities, operation of these WRS’s depends on the approval of the Local Health Office which simply follows the guidelines indicated in the Supplemental Implementing Rules and Regulations on Water Supply, a Presidential Decree 865. This guideline defines the requirements and standards that call for strict compliance before a permit to operate WRS is issued. It also prescribes a continued evaluation and monitoring thereafter. However in the guidelines, the quality of the product water is simply measured by analyses of water samples taken after the water purification processShow MoreRelatedThe Promotional Strategies of Bulls Eye Water Refilling Station; Its Positive Effects2880 Words   |  12 Pagesnationwide, is the water refilling station. Its mushrooming on every street corner, because a lot of people in urban areas prefer to get their drinking water from these water stations, its simply clean and safe to drink. Over the years, as the demand for cleaner water becomes higher, the price of household water purifiers and bottled water has become prohibitive. Water refilling stations managed by private entrepreneurs offer a cheaper and more convenient solution to the publics drinking wat er needs thanRead MoreInternal Revenue Code 1939278050 Words   |  1113 Pagesapproval of the Secretary. Gains, profits, and income from— (1) transportation or other services rendered partly within and partly without the United States, or (2) from the sale of personal property produced (in whole or in part) by the taxpayer within and sold without the United States, or produced (in whole or in part) by the taxpayer without and sold within the United States, shall be treated as derived partly from sources within and partly from sources without the United States. Gains, profits