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Oil production and its effects on. Introduction Nowadays, the question about the
future of oil in our environment is becoming more and more important. ...
... Effects of these high prices are spreading throughout the world ... all it has to do
is just reduce its production. This causes oil prices to rise because of the ...
... ignored, despite the fact that its cumulative effects ... As world oil demand increases,
oil-producing countries ... Africa are increasing their production and export ...
... Its other aim was to control or prevent the use of the oil weapon ... of Arab Petroleum
Exporting Countries (OAPEC) decided to cut production of oil and place ...
... OPEC members purposely decreased their production to maintain ... does), 1.5 million
barrels of oil a day ... complete policy to negate global warming and its effects. ...
Submitted by peter4525 on April 18, 2008
Category: Social Issues
Words: 1895 | Pages: 8
Views: 112
Popularity Rank: 93,098
Average Member Grade: N/A (Add a Comment / Grade this Paper)
Introduction
Nowadays, the question about the future of oil in our environment is becoming more and more important. What will happen and how will it change our behaviours? Research in the past has shown that the supply of oil is limited, but the demand is rising steadily. Our whole economy depends on oil production and nearly everything we use in our daily live comprehends oil as a major ingredient. On the other hand, it has also shown that the prediction about its limits can not be made one hundred percent correctly. In the 1970´s and the 1980´s, economists predicted that a barrel of oil would cost a hundred dollars by the year 2000, due to limited resources. Will the world economy change and switch to alternative resources or will it totally collapse in our near future? What will the leading oil companies do? Focusing on Shell/Royal Dutch as one of the biggest and most profit making oil producing company in the world, it will be shown how they as a modern business have an effect but also changed the world’s oil availabilities. Reviewing the two opinions about the future of oil, this paper will as well as possible discuss what we can expect from our economic future from the pessimistic and optimistic point of view. Starting with short background information to give a slide overview on how I got to the point where I am at right now, I will also look at both sides of the argumentation for the supply of oil. Furthermore I will analyse the work of Shell/Royal Dutch by focusing on technological restrictions, technical developments and socio-cultural developments.
1. OPEC countries and the oil crises
Until the 1950´s coal was the leading energy source for private and economical usages, but this drastically changed in the 60th. As the result of that the main producing oil countries decided to form an organization to safeguard their interests and to organize their major concerns to have a secure stabilisation of the oil price. This...
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