Abstract This paper takes an in-depth look at the history and factors that influence and impact the price of NorthSeaoil. The paper examines how taxation, new technology and extraction costs effect prices of NorthSea crude. It also explores the global situation and the impact of dwindling NorthSea supplies on global oilprices.
Outline:
General
Global Historical Price Trends
How Oil is Sold
Taxes and NorthSeaOil Tax Situation and New legislation in the UK
Technology Innovations and Tax Incentives
Extraction Costs
Global Competition and NorthSeaOil Conclusion
From the Paper "The European market will not be able to achieve stability as long as there are no mechanisms in place to control supply and price. Many experts feel that the current situation means the end to low prices for consumers (Appert, 2005). The Brent price started at $40 a barrel in the beginning of 2005, but had risen to $70 a barrel after Hurricane Katrina took out many refineries along the Gulf Coast (Appert, 2005). Oil production has changed since the 1970s. During the 1970s companies worked on building a surplus. However, demand rose quicker than their ability to produce. Now companies work on a just-in-time basis (Appert, 2005). There is no reserve to level supply when it is needed. Changes due to shocks are seen rapidly on the consumer end. Consumers got used to stability in pricing during the 1970s. If supply was low companies had enough in reserve to meet the demand. "
Tags: middle, east, war, US, Gulf, Coast, petroleum, fuel, royalties, tax, scheme, Co2
Abstract This paper analyzes and outlines all the activities required to manage the NorthSeaOil infrastructure project within the set time frame and budget. The author describes the initiation, project planning and design, project execution and projection, monitoring and control and completion stages of this project. The author also presents that key processes as integration management, scope management, time and cost management, quality management, human resources management, communication management and risk management. The author underscores that the selected project manager will need to have excellent interpersonal skills and prior experience in the oil and gas industry with projects of this nature.
Table of Contents:
Abstract
Introduction
Project Stages
Project Initiation Stage
Project Planning or Design Stage
Project Execution or Projection Stage
Project Monitoring and Controlling Systems
Project Completion Stage
Project Management Processes
Integration Management
Scope Management
Time and Cost Management
Quality Management
Human Resources Management
Communication Management
Risk Management
Conclusion
From the Paper "This is also known as the closing stage of the project. However, though the project has been completed it doesn't mean that everything comes to an end at this point. While the execution of the project ends and the end product has been completed it is at this point that the maintenance and post completion support for the users begins along with health and safety audits etc to ensure that all the necessary safety measures are in place."
Abstract This paper reviews the relationships between OPEC crude oil production levels, Canadian crude oilprices, and Canadian crude oil consumption. The paper includes a regression analyses applied to relevant data to assess the effects of OPEC production.
From the Paper "Poor discipline among the member states of OPEC together with increased production in non-OPEC oil exporting states compromised OPEC's ability to dictate world crude oil prices. The organization, however, continues to play a highly important role in the world crude oil market..."
Abstract This paper reflects on the relationships between oilprices and the stock market. The relationship between oilprices and increases in costs to transportation, heating, and production are reviewed, and the role of spiking oilprices on market uncertainty is discussed. Overall, higher oilprices are historically linked to declining stock market prices, and it seems reasonable to suggest that future stock market decreases will come from current increases in oilprices.
Outline
Abstract
Introduction
OilPrices and the Stock Market
Conclusion
From the Paper "The relationship between rising oil prices and falling stocks has been seen repeatedly throughout the past thirty years. Form 1973 to 1982 when oil prices rose from $5 to $30 USD a barrel also saw double digit inflation, and two recessions. The same pattern was seen in 1987, when rising oil prices saw stocks tumble by more than 30 percent on the Dow Jones Industrial Average. Stocks fell again when Saddam Hussein invaded Kuwait, and oil prices rose close to 50 percent over several weeks. From 1991 to 2000, stocks remained strong as oil prices held steady (Leeb and Leeb, 2004)."
Abstract This paper demonstrates that the oilprices are not only closely linked to the policies and capacity utilization of OPEC but also are a consequence of Iraq war, increasing demand, reduced supply and speculation such as oil futures. The author concludes that oilprices are likely to stay relatively high in the coming years because of capacity constraints due to low investments made in the late 1990s, lack of a healthy investment climate, greater competition among consuming countries to secure flows and geopolitical risks. The paper stresses that the world has to learn to live with the increased prices of oil by (1) improving the investment climate for capacity enhancement in oil-rich countries and (2) reducing oil intensity by means of shifting away from oil to some alternative fuels especially because the oil reserves are not likely to last longer than 40 years. Many figures and charts.
Table of Contents
The Iraq War
Demand
Supply
Speculation
(3) Is the Price-Rise Going to Stay?
Demand Factors
Effects on Global Economy
OECD Countries
Developing Countries
Supply Side Factors
Conclusions
From the Paper "In August 2004, International Energy Agency reported that world oil demand was increasing faster than any other point in the last 16 years. It attributes the increase in demand due to rapid economic expansion in various countries, particularly China and India in Asia. China was only second largest consumer of petroleum products behind USA. The demand for oil is increasing sharply led by US, China and India, and in absence of corresponding increase in supply, price of oil is bound to rise. In the last decade, the consumption of oil and gas has increased by over 70% in Asia-Pacific Region vis-a-vis 15% in the rest of the world. During 2003-04, China consumed more oil than expected. There was more than 40% increase in the consumption by China over the previous year. Similarly, USA's import increased from 4.22 billion barrels in 2002 to 4.49 barrels in 2003. India's import of oil has increased from 1.1 million barrels per day in 2000 to 1.4 million barrels per day in 2003 (27% increase)."
Abstract This paper discusses how crude oil has proved to be one of the most versatile forms of energy and how man has used this fundamental law of energy conversation to make life easier for himself and the community at large. It explores the topic of gasoline from its refining to its conservation and, in particular, the factors affecting its ever-changing price and the economy.
Outline
Introduction
Information About Crude Oil Refining of Crude Oil in the United States and Worldwide
Workforce in the Petroleum Industry
The History of International Petroleum Pricing The Achnacarry Agreement
The Rise of OPEC Power in the 70?s
Effect of OilPrice Increase on the U.S. Economy
Variables Affecting the Cost of Petroleum Products
Impact of Price Increase on the U.S. Economy
Impact of Petroleum Price Increase on the World Economy
Political Influence on Price Increase
Petroleum Product Transportation and Distribution
Petroleum and the Transportation Industry
Types of Fuel Used in the Transportation Industry
Fluctuating Fuel Prices in Recent Times
Impact of Prolonged Petroleum Use on the Economy
Conclusion
From the Paper "The high cost of oil production in the U.S. would also be impacted by the price decrease as a result of the additional capacity in Iraq. The U.S. producers would become uncompetitive and may eventually have to stop production of oil in current oil and gas-producing states of Alaska, Louisiana, Oklahoma, Texas and Wyoming. The U.S. government may have to impose tariffs and taxes on imported oil in order to keep the local U.S. producers competitive. (Bartis, 2003) Oil exploration and distribution channels can cost billions of dollars to develop. This includes the location and identifying of oil wells, the size and capacity of the well, the type of geography of the area and the long-term potential of the oil well are all-important factors in the cost of the oil production set up for any oil well site. It takes time and effort from the identification of the oil well to the actual production of crude oil."
Abstract This paper takes a look at the price of gasoline and how we need to increase gasoline prices to prevent all our national policies from being determined by our thirst for oil. According to the paper, US foreign policy has become a hostage to ensuring adequate supplies of imported oil.
Outline:
Context of the Problem
Statement of the Problem
Research and Review of the Problem
Crude OilPrices and its Impact on Gasoline Prices Political Impact of Higher Energy Prices Objective of Study: To Advocate Higher Gasoline Prices Potential Benefits of Higher Energy Prices Environmental Impact
Global Warming
Significance of the Study
Research Design & Methodology
Discussion
From the Paper "The carbon dioxide produced by motor gasoline in 2003 was equivalent to 311 million metric tons of carbon [Bureau of Transportation Statistics, 2005]. If we could achieve even 10% improvement in energy efficiency through use of lighter cars, it would save million of tons of oil and also reduce the carbon emission by 30 million tons. The 10% target is not just possible it is very realistic and even now a family car is about 25% more fuel efficient than a light truck (a term also applied to SUVs). The federal corporate average fuel economy (CAFE) standards set the fuel economy goals for new passenger cars at 27.5 miles per gallon (mpg). The regulations do not classify SUVs as cars but as light trucks. The light trucks only have to achieve 20.7 mpg. Even this is taken as an average of all light trucks and some SUVs operate at 12 mpg and can remain on the road legally. Some SUVs like Ford Excursions don't even qualify as light trucks and are not subject to CAFE standard."
Abstract This paper describes the stalemate America faces in trying to find a solution to being dependent on oil from the Arab world. The author traces the history and background of this problem, and cites the end of the 1973 oil embargo as the reason that no serious research has continued in this field. The paper additionally shows how oilpricing is high and further outlines the causes of Western dependency on oil. Also analyzed is the connection between oil dependency, the increased energy needs of emerging nations and the environment. The author concludes with a call for more research and public awareness of the issue of oil dependency.
Outline:
Introduction and Background
Genesis, Continuation and Increasing of Problem
Attempted Solutions
Evidence for the Problems of High OilPrice Causes
Effects
Solutions
Conclusion
Table "U.S. Retail Gasoline Prices"
From the Paper "Solutions to the ongoing and continually-increasing problem of oil dependency could still be reached; if the political will and commitment were to truly exist (and in the opinion of this author, it currently does not). No real solution is viable without that. Oil lobbies would need to lose their grip on Washington politicians, which would even conceivably happen only if a groundswell of citizenry were to threaten to "un-elect" the career politicians supported, politically and sometimes, at least to an extent, personally (trips; favors) by various big oil interests."
Tags:oil, OPEC, United, States, Arab, world, petroleum, dependency, alternative, energy, sources
Abstract The paper researches the potential effects on the American economy of high crude oilprices in 2004. The paper discusses the dependence on oil for energy purposes and describes the energy problems in the U.S. and the world at large, including crude oilprices. The paper illustrates the effect on the American economy.
From the Paper "High crude oil prices and in turn high prices for refined products, are the source of worries about the economy in the fall of 2004. The world's dependence on energy sources, most of which are not located in areas where they are consumed, causes the locations of world energy reserves to be as crucial a concern as are the energy surplus and deficit characteristics of the various international regions."
Abstract This paper examines the debate over oil drilling in Alaska. It suggests that it is not necessary even given current and possibly future gas shortages in America. It gives various reasons to the adverse affect of using Alaskan oil reserves including the Exxon Valdez incident, the development of supplementary energy sources, and environmental issues.
From the paper:
"As gas prices have risen over the past year, the term "crisis" has been tossed around a great deal, suggesting a number of different possibilities. Among these: Americans may soon run out of gas, Americans may soon be paying five or ten dollars per gallon, and the American will stall utterly if there is not enough cheap gas available. In fact, of course, none of these speculations is true. What is true, and what will be discussed in this paper, is that these higher gas prices are indeed a wake-up call to Americans that something must be done to change our expectations about where our energy will be coming from in the next century."
Tags: environment, energy, Exxon-Valdez, fuel, oil, fuel, prices, energy
This paper is an industry analysis of the United States oil and gas industry, excluding the industry-related exploration and production pre-refining activities.
Abstract This paper explains, using Porter Five Forces Model, that there is a limited threat of new entrants cutting into Shell, Mobil, Texaco, Gulf, and Exxon's market share because the industry is fairly oligopolistic, with only a few giant firms controlling the majority of the industry even on the global scale. The author points out that the world's oil-producing nations are very influential in the supply and demand factors associated with oil production and consumption through the Organization of Oil Producing Countries (OPEC). The paper stresses that, as globalization increases the world's demand for oil, it will be critical for the oil-producing nations to maintain a steady cost per barrel, while, at the same time, meeting the high production demands because there are few new technological advances or regulatory controls available to overshadow the basic economic formula of supply and demand. OPEC promises to control pricing for the industry. Tables.
Table of Contents
Introduction
Industry Overview
Five Forces Model
Major Competitors and Strategic Group Mapping
Future Trends
Opportunities and Threats
Conclusion
Appendix A: Oil Industry
From the Paper "The oil and gas industry are driven by the price of crude oil. The industry was shaped in the late 1990's when the price of oil lagged around $10 a barrel forcing many smaller independent companies into seeking bankruptcy protection and the larger oil companies like Shell, Mobil, Texaco, Gulf and Exxon to look for partners through acquisition or merger. This entailed reduced refining and exploration activities and less gas production. However, today, the industry must contend with a new global economy that has increased demand for energy to record levels, which has allowed a robust rebound in the oil and gas industry. ?Oil prices advanced closer to $50 a barrel Monday as domestic and foreign supply concerns persist amid strong global demand.? "
Abstract This paper discusses the current trends pertaining to global supply and demand for oil. It explains why changes occur in the supply, demand and pricing of gasoline which is a derivative of crude oil. The paper specifically examines two articles - Ibrahim Oweis' "Supply, Demand and Oil" and "Demand for Oil Outstripping Supply," written by Richard Gwyn.
Table of Contents:
Article Summaries
First Article Summary
Second Article Summary
Why These Changes Occur
From the Paper "In conclusion, the United States is understood to be one of the world's largest consumers of natural fuels and that our demand for oil indeed outstrips the supply, which might lead to negative pressure on the economy of the United States. China, on the other hand, is considered as the world's second-largest demand-driving country. The article speaks about some possible ways to limit the growing demand for oil and comments on taxation and legal procedures to reduce this demand. The article concludes with a warning that the world must react quickly, now, to position itself for perhaps on of the greatest forthcoming economical declines and violent dislocations of society ever."
Abstract The paper presents a government intervention program for lowering Canadian prices in relation to oil and gas. The approach this paper takes is to lower federal taxes for a direct and immediate impact. Although there are follow-on effects that will have to account for the lost revenues, this approach will lower prices during the summer driving season, which is the goal of this intervention.
Abstract This report provides a microeconomic analysis of crude oil behavior over a 25-month period (March 2001 to April 2003). The conclusion drawn was that supply expectations, as opposed to actual supply or demand changes, were the greatest influence on crude oilprices during the period of analysis. The paper includes 4 charts/graphs and 1 table.
From the Paper "Over the past six months crude oil prices have been especially volatile although the general trend has been upward over this period. Over a two-year period however crude oil prices have also ..."
Abstract The paper is an endeavor to disseminate the truth from the differing opinions relating to an oil spill and environmental disaster. The paper examines the claims made that the fisheries that were destroyed when the ship Exxon Valdez spilled its oil into the Prince William Sound, have completely recovered.
Outline:
Introduction
Exxon's Shame
U.S. Environmental Protection Agency Report
Alaska Fisheries Science Center Report
Conclusions Drawn from the Review of Literature
From the Paper "A report published by the Alaska Fisheries Science Center entitled: "The Exxon Valdez Oil Spill: How Much Oil Remains" states that the Exxon Valdez oil spill in Prince William Sound "released a minimum of 1.1 million gallons of Alaska crude oil into one of the largest and most productive estuaries in North America." (Short, Rice and Lindeberg, 2001) Studies conducted since that time, specifically a study in 1993 returned estimates stating that "7m of shore line were still contaminated with subsurface oil." (Short, Rice and Lindeberg, 2001) Monitoring that has been ongoing in nature has determined that by 1999 "oil was surprisingly persistent and often in relatively unweathered state, containing high concentrations of toxic and biologically available polycyclic aromatic hydrocarbons (PAH)." (Short, Rice and Lindeberg, 2001) Moreover, "fauna from higher tropic levels such as sea otters and sea ducks still have not recovered." (Short, Rice and Lindeberg, 2001) Public concern led the 2001 assessment of the shorelines of Prince William Sound. The following table relates the summary of the sampling effort in this assessment."
