Oil Prices

Paper Summary:

This paper analyzes the different factors which together influence and effect changes in oil prices in the global market. It explains that natural calamities that are an ever-present danger for the rich oil shores along the Gulf of Mexico, the volatility of the Middle East, swelling domestic consumption and natural disasters together contribute to the high oil prices in the nation.

Table of Contents:
Introduction
Increase in Oil Price (Different reasons)
Oil Refineries
Natural Disasters
Conclusion
Bibliography

From the Paper:

"As mentioned above, different political and economic reasons affect oil prices. First of these is the political unrest in Iraq. As a huge oil-producing nation, Iraq has a considerable effect on the global oil economy. The 1978 revolution in Iran affected oil production. [LSA] During the 1980'war between Iraq and Iran, we saw the drastic increase in oil prices. Then again during the first gulf war between Iraq and Kuwait, we witnessed the shooting up of oil prices. So the political instability of these nations that come under the oil belt have a direct influence on production capacity and consequently affect the price. Currently, American invasion of Iraq has created a volatile situation with increasing terrorist activities. The insurgents are targeting the oil fields and the important pipelines. Monitoring the complete stretch of pipelines is practically impossible."

Sample of Sources Used:

• Nicholas Fullerton, 'Two Reasons Why Oil Prices Have Been So High Lately', Available at, http://ezinearticles.com/?Two-Reasons-Why-Oil-Prices-Have-Been-so-High-Lately&id=89689Accessed Dec 1st 2005
• LSA, 'What is Petroleum and History of Oil', Available at, http://lsa.colorado.edu/essence/texts/petroleum.htm , Accessed Dec 1st 2005
• John W Shoen, 'U.S Refiners Stretch to Meet Demands', Available at, http://www.msnbc.msn.com/id/6019739/Accessed on Dec 1st 2005
• Public Citizen, 'Myths and Facts about Oil refineries in the United States', Available at, http://www.citizen.org/cmep/energy_enviro_nuclear/electricity/Oil_and_Gas/articles.cfm?ID=11829 Accessed Dec 1st 2005
• Michael T Clare, 'Katrina and the Coming World Oil Crunch', The Nation, Sep 2005, Available at, http://www.thenation.com/doc/20050919/klareAccessed Dec 1st 2005

More papers on Oil Prices:

• Persuasive Essay # 103345 : "Oil Prices and the U.S. Economy"
• Research Paper # 63950 : "High Oil Prices"
• Analytical Essay # 149437 : "The Volatility in Oil Prices"
• Cause and Effect Essay # 94302 : "Oil Prices and the Air Cargo Industry"

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