Price Mechanisms and North Sea Oil Research Paper by Writing Specialists

Price Mechanisms and North Sea Oil
An in-depth discussion regarding the factors influencing the price of North Sea oil.
# 92241 | 9,443 words | 15 sources | MLA | 2006 | US

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This paper takes an in-depth look at the history and factors that influence and impact the price of North Sea oil. The paper examines how taxation, new technology and extraction costs effect prices of North Sea crude. It also explores the global situation and the impact of dwindling North Sea supplies on global oil prices.

Global Historical Price Trends
How Oil is Sold
Taxes and North Sea Oil
Tax Situation and New legislation in the UK
Technology Innovations and Tax Incentives
Extraction Costs
Global Competition and North Sea Oil

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. "

Sample of Sources Used:

  • BP/Amoco.Statistical Review of World Energy 1999. Retrieved May 28, 2006 from
  • Ruth Buteel. REGULATORY IMPACT ASSESSMENT FOR NORTH SEA TAXATION. HM Revenue and Customs. LBS Oil and gas. March 14, 2006. retrieved May 22 from
  • CO2. (2005)Enhanced Incentives for Promoting use of CO2-EOR. Fourth Annual Conference on Carbon Capture & Sequestration, Alexandria, Virginia on 2-5th May 2005. Retrieved may 22, 2006
  • Croft, G. (2005). World Oil Supply Outlook. Retrieved May 24, 2006 from
  • Department of Energy. (DOE)(2006). How Oil is Bought and Sold. Retrieved May 23 from

Cite this Research Paper:

APA Format

Price Mechanisms and North Sea Oil (2007, February 17) Retrieved December 05, 2020, from

MLA Format

"Price Mechanisms and North Sea Oil" 17 February 2007. Web. 05 December. 2020. <>