This website uses cookies to ensure you have the best experience. Learn more

Journal Assignment Oil Market

1868 words - 8 pages

Journal Assignment (Oil Market)

Throughout the past decade there has been constant discussion about the United States attaining most of its oil from the Middle East. In fact, many journalists and news feeds have theorized how the majority of American oil has been imported by the Middle Eastern countries, and have even gone to the extent to claim that the American “War on Terror” in Iraq was simply to attain more oil. Whether these conspiracy theories are true or not, import data on oil to the United States has proven otherwise. Peter Kiernan’s (2008) article “America is Not as Dependent on Persian Gulf Oil as Some Might Think” illustrates what his proposed title claims by ...view middle of the document...

These numbers only prove that the United States consumption of crude oil imports and trade with the Middle East on the commodity of oil is not as strong as other nations. In other words, other nations seem to be more heavily reliant on oil trading with the Middle East than the United States. For instance, “about 83 percent of Japan’s oil imports, about half of China’s and 27 percent of OECD Europe’s [...and India]” seem trade with the Middle East in terms of oil. Ultimately this date illustrates and also clarifies who in fact trades Oil with the Middle East and/or the Persian Gulf and who does not. Furthermore, data continues to reveal that oil will be an extremely difficult commodity to trade and/or import and export between different nation-states for the nations in the Middle East and the West have made political allies as well when who they trade with.
It is extremely difficult to not flirt with politics between the Middle East and the Western nations (United States, Canada, and the United Kingdom per se) when describing the import and exportation of oil for there is a deeply rooted history we cannot ignore when discussing pressing issues like oil resources. In more words, after the Second World War, Europe and its imperialistic procedures weakened and hence the struggle during and after the Cold War only pertained to such weakness which inevitably looked for solutions. One major solution was to look for more oil resources which henceforth “had a geopolitical impact on the Middle East [...] control of resources and access to oil became paramount, to the extent that dictators and human rights abusers were supported”. The notion that Anup Shah (2010) is discussing we can see today with the constant struggle the Middle East is facing in terms of politics. Politics and History are without a doubt intertwined with the trading of oil resources thus one cannot escape that when describing such topics. Therefore, when former American president George W. Bush promised to “replace more than 75 percent of our oil imports from the Middle East by 2025,” is not only somewhat of a falsified promise but also near impossible to attain because the United States would then still have to be importing massive amounts of oil from the continents of North America, South America, and Africa. Such promises and statements by former leaders only reveal how contentious of the issue oil has been in the past and how it is still till today.
In recent news, due to the protests and revolutions occurring in the Middle East today there are newspapers flooding the cyber and physical world of how oil prices are going to increase and so will food production. Regardless of whom the United States has been dependent on for oil they require it a lot more today than they did yesterday. Keirnan goes on to explain that the United States has been dependent on oil imports since the 1970s and “had a 28 percent share of the American oil market but this has grown to 60 percent today...

Other assignments on Journal Assignment Oil Market

Mnc Australia Essay

2527 words - 11 pages taking control of the market. Conversely, in this example, BP where one of the ‘first-movers’ into the Australia oil market and therefore nullify this risk and turn it into an advantage as they control the market. This affected the potential investments into Australia as only a handful of oil companies where able to successful internationalise into Australia; examples of these corporations are ExxonMobil (ESSO) and Caltex. The cost of setting up

Pirates Essay

6418 words - 26 pages The truck drivers are one of the important factors to make sure every delivery of the crude palm oil can be done successfully. If Oiline wants to form its own transportation facilities to handle delivery of the crude palm oil, the drivers’ income and benefits should be manage seriously. The driver’s remuneration package would follow the current market salary packages. The salary of the truck drivers should range from RM778- RM1770 based onthe

Minit Lube Case Study

877 words - 4 pages Name: Cierra Holloway Week 2: Case Analysis: Minit-Lube Discussion Questions Directions: Read the case and then answer each question in short paragraph form. This assignment is worth 100 points. A substantial market exists for automobile tune-ups, oil changes, and lubrication service for more than 250 million vehicles on U.S. roads. Some of this demand is filled by full-service auto dealerships, some by Walmart and Firestone, and some

Idi Nahuy

3224 words - 13 pages disruptive events can be both predicted and planned for. This should be a major element of the risk planning associated with major programs and projects. And disruptive events can have unexpected and significant consequences – in this case, enormous impact on the environment, BP market valuation, BP’s public image and credibility, many other BP projects and people, public perception of both BP and the oil industry itself, and possibly BP survival

Stock Market

1562 words - 7 pages Stock Market Assignment The stock market plays an important role in businesses today. Becoming an investor proved how important it is to understand the stock market. This assignment gave me the opportunity to research and invest in different companies and to learn about the stock market. I also had the opportunity to watch the S&P 500, NYSE, and the NASDAQ, and reflect on market changes and challenges. When choosing stocks to invest

The Key Differences Between The Natural Gas Markets In Asia, Europe And North America

1687 words - 7 pages , which sets it apart from the truly global oil market, is that the former has historically been developed with respect to the regional supply bases. This was primarily defined by existing technology for natural gas transportation and availability of other energy resource: primary oil and coal. Sharp increase of oil prices and global concern with availability of oil reserves; growing awareness of the fossil powered

Finance 370 Week 2

1077 words - 5 pages Fin 370 Week 2 Individual Assignment Chap. 14 Questions 14-1, 14-3, 14-4 Chap. 15 Questions 15-12A, 15-13A Question 14-1 What are financial markets? What function do they perform? How would an economy be worse off without them? Financial markets report price for each good; they are institutions and procedures that facilitate transactions in all types of financial claims (securities). Each financial market performs a different

Manpower Planning

965 words - 4 pages activities for many organizations. Citibank, for example, has a single global HRIS that maintains a detailed skill inventory, compensation database and HR practices for 98 countries and 10,000 managerial personnel worldwide. Numerous other global employers have created employee self-service compensation and benefits systems that allow employees at Shell Oil Company manage their retirement plans, maintain and/or change health care coverage, and track

Bussiness And Management

831 words - 4 pages groups (A, B, C) and a number when they check in. The number refers to where they stand in line at the gate. Group A boards first, and once on board, passengers may sit anywhere they like. Southwest grows by entering new markets other airlines overprice and underserve. The company believes it can bring fares down by one-third to one-half whenever it enters a new market, and it expands every market it serves by making flying affordable to


1547 words - 7 pages CASE (People in Organization) THE WORK ASSIGNMENT Effie Pardini supervised eleven accounting clerks in the budget and planning department of a large computer manufacturer. None of the clerks had accounting degrees, but all were skilled in handling records and figures. They primarily prepared budgetary plans and analyses for operating departments and their inputs were secured from the departments and from company records. Pardini

Mcdonald's India

9681 words - 39 pages MANAGING EXPATRIATE FOR AN INTERNATIONAL ASSIGNMENT Referring to the case study, there are gaps identified in the Kline & Associate international human resources management practices in terms of expatiate management. Before sending an employee to an international assignment there are certain skills an employee must acquire and it is the duty for the HRM of the firm to prepare the employee for any international assignment. However this was

Similar Documents

Finance Essay

1746 words - 7 pages years instability wars and conflicts, especially in the Middle East oil-rich areas such as Tunisia, Libya, Egypt, and Syria with the acceleration of technological development. This had influences on the exchange rate in the oil market and volatile behavior of trading. So it is necessary to follow-up in oil prices and monitor prices and the forecast oil price movement. The primary purpose of this analysis is to provide a further contribution to

Baky Essay

5354 words - 22 pages commodities. The Exchequer of Bangladesh, which absorbs the petroleum price hike significantly, is also under severe pressure as oil prices are now hovering around US$100 a barrel in the international market. According to the Bangladesh Bureau of Statistics, the overall inflation in Bangladesh was 8.66 percent on 12-month annual average and 11.21 percent on point-to-point basis in November 2007; whereas the food-inflation hit 13.83 percent in the same

Economics Essay

949 words - 4 pages C5 Economic Environment of Business Assignment 1(20% weightage) INSTRUCTIONS a) This assignment covers Unit 1 and Unit 2 of the course materials. b) This assignment contains Part A Case Scenario and Part B application questions. Answer ALL questions in Assignment 1. c) This assignment contributes 20% towards final grading for this course. d) This is an individual assignment. No duplication of work will be tolerated. Any plagiarism or collusion

Gas Prices In California Essay

2919 words - 12 pages . The literature reviewed showed that West gasoline market dominated by California is defined by tight balance between supply and demand. Other factors found to be contributing the escalating gas price in California include isolation of the state from other refining centers, market conditions including international demand, Wall Street speculation, poor policies leading to uncontrolled oil cartels, decline of oil production during technical failure