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Essay / Research Paper Abstract
This 6-page paper addresses the connection between oil, international economics and trade. A discussion about OPEC's influence on oil pricing is also included. Bibliography lists 5 sources.
Page Count:
6 pages (~225 words per page)
File: D0_MToilinter.rtf
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Unformatted sample text from the term paper:
Arab Emirates are examples of only a handful of nations that have benefitted because demand for oil is at an all-time high.
But how, exactly, does the oil and energy industry tie into the overall economy? Why is it that oil prices can impact an economy to the point that, for example,
the United States worries about inflation if oil surges above $115 per barrel? How is it that when oil becomes so expensive, most people feel the pain not only at
the gasoline pumps, but also when it comes to buying groceries, clothes and even paying rent or a mortgage? In this
paper, well expound on the topic of oil, energy and gasoline, and attempt to link all three with one another. Well examine how oil has become inexorably linked with most
global economies and has, in many cases, driven the economic growth (or downfall) of various nations. Well also study the impact of OPEC on the oil industries, as well as
the impact of other non-OPEC nations that hold the keys to vast reserves of petroleum and oil, such as Russia and Mexico. The Purchase and Sale of Petroleum
Before we take on an explanation of oil and petroleum on a global scale, we first need to understand how the "liquid gold," as
it is called, is distributed, and the mechanics of supply and demand. On the economic side, the manufacture, distribution and purchase of
oil follows the theoretical economic model of supply, demand and allocation of resources. In the very basic sense, a market exists when a customer has a need of a good,
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