The Oil Industry

Paper Summary:

The paper researches the oil energy industry and how it affects us. The paper discusses the manner in which oil prices affect individual citizens, the airline and transportation industries. In addition, the investigation explores government regulations on energy. The research substantiates the claim that in the modern world the top privately owned oil companies are extremely profitable, because western society is addicted to the oil energy. The paper explains that, as a result, energy companies' profits are related to supply and demand.

Outline:
Introduction
Oil as a Commodity
Petroleum Sector
Transportation Industries
Government Regulations on Energy
Foreign Affairs
Black Energy Trade
Future Trends
Future
Conclusion

From the Paper:

"Oil has long been a source of fuel in America and throughout the world. During the last three decades America and other nations have greatly increased their dependence on foreign oil, however America was not always so dependent on foreign oil. According to Han (1994) during the late 1940's America was both the main producer and consumer of crude oil and petroleum products in the world. The author explains that there was "an average annual production of 1,906 million barrels of crude oil during 1947-49, the United States alone accounted for nearly two-thirds of the combined production of all market-oriented economies. This situation existed simply because the United States was a large industrial economy that thrived on oil more than any other country in the world (Han 1994, pg. 11)." "

Sample of Sources Used:

• 139th (Extraordinary) Meeting of the OPEC Conference, 2006. OPEC. Retrieved February 26, 2005 from; http://www.opec.org/opecna/Press%20Releases/2006/pr032006.htm
• About DOE, United States Department of Energy. Retrieved February 26, 2005 from ; http://www.energy.gov/about/index.htm
• Alternative Energy. Amaco BP. Retrieved February 26, 2005 from; http://www.bpalternativenergy.com/liveassets/bp_internet/alternativenergy/index.html
• Deutch, P. J. (2005, November/December). Energy Independence: High Oil Prices Have Everyone Talking about Energy Independence Again. but a Look at the Numbers Reveals the Vaunted Goal Is an Illusion. and Conservation Isn't the Answer, Either. the Sooner We Realize It, the Sooner We Can Talk about Real Solutions to the Energy Crisis. Foreign Policy. pg 20.
• Extra!: Gas prices. (2005). CNN. Retrieved February 26, 2005 from; http://www.cnn.com/2005/EDUCATION/08/15/extra.gas.prices/index.html

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