Oil Economic Geography

Is it better to kill people in wars over nationalism, economics & oil than in wars over religion? Why or why not?

What are some good books to read to learn about the economics of oil? Anything dealing with the U.S. and the oil trade

Will the green movement erode the economics of big oil? Because it is a rather controversial issue, please consider it from the business perspective ONLY.

What is the correct way to show crude oil production on the economics circular flow diagram?

How do the economics deniers explain the $50 drop in oil prices? Lets consider the argument i heard two weeks ago that opening Anwar would only reduce the price of oil 42 cents per barrel. All Bush had to do was lift the Presidential moretorium on Anwar and it fell $20 a barrel. McCain chooses Palin and it drops another $20 a barrel. Does anyone still hold to the principle that we can't drill our way out of this problem?

Iran launches a couple missiles and the price of oil goes up. Did I miss something in Economics Class? I don't recall anything in my economic studies about missiles going up being relevant to oil prices going up. Now, maybe if those missiles hit some important targets, well sure it would have an economic effect but these just went up and came down. - By god, come to think of it, North Korea shooting their rockets out into the water raised oil prices too. - What economic book is this stuff in?

Economics help on oil - Free market vs government/organisations eg OPEC? Hi all, Please help me with this question: Do you agree that the price of oil should be determined by free market forces rather than through the intervention of governments or organisations such as OPEC. That's the question, and a list of pros and cons of each system would be great! Thanks It's a 25 mark question - a little more detail please. And OPEC kinda goes against the free market - it fiddles with the whole demand and suply concept to get the best price.

Economics - the potential causes of price changes in oil? What are the potential causes of the price changes in oil over the last 30 years? Also, what are the potential impacts of increasing oil prices on the world economy?

I need a topic on oil and gas economics and am finding it difficult what can you suggest?

In A Post-Peak Oil world, will there be any need for those with Economics degrees? What do you think? If the price of oil skyrockets and economic collapse ensues, will my ECON degree be worth anything? Some Peak-Oil activists have told me that since Peak Oil is approaching, my degree will be worthless and I am better off dropping out of college and taking up a trade. What careers could a Economics major pursue in a Post-Peak Oil world?

Why the laws of economics don’t work well with oil? Discuss why demand and supply analysis cannot always explain events in the oil market.Focus your attention on the short-run and the long-run adjustments in the oil market in your analysis.

Why do people continue to think oil prices are the result of supply and demand economics? http://money.cnn.com/2008/05/28/markets/oil_prices/index.htm?cnn=yes Sometimes you have to step away from the text book and apply common sense to the scenario at hand. I can lead you sheep to the water source but eventually you have to take some responsibility in educating yourselves. I can't do it all for you!

What recession is Obama talking about? He must be talking about how the oil prices are affecting our economics? http://www.latimes.com/business/la-fi-econ29-2008aug29,0,2463728.story?track=rss Check out an economic history book and look at the oil crisis during the 70's & Jimmy Carter!! OPEC is causing the economic slowdown??

If Oil is set by supply & demand economics, why is Bush begging the Saudis to increase oil production? Is it that simple? Why didn't he beg them three months ago? Some of you people are really suckers! Production in China is making the price of oil go up...LMAO, I bet Bushand Cheney laugh at that as much as I am.

why are we really in iraq oil arrogance economics what do you think?

Gulf of Mexico oil & gas drilling economics? Does anyone know the average cost of drilling a well in the Gulf of Mexico and the probibilities of success and the expected amount of oil & gas that should be discovered . I want to know what kind of money can be made now with the current price of oil/gas.

Economics Question about oil? The substitution effect creates elasticity of demand in a flat world that is experiencing record oil prices. Can someone explain this statement, and is it true or false?

the economics of the oil market? how does demand and supply affect the market, explain the different factors. describe the recent (1 to 2 years) changes in the oil market. what are the mainly causing the change in proce of oil.. what might happen in the future to the oil market. support answer thankyou

In a Laissez-faire economics how will it be prevented for ex. for "oil firms" to set prices together?

3 questions about oil please help (economics)? In which 3 states in the usa is oil found? What was oil first used for and by whom? In north america where was the oil industry born and in what year?

How do gas companies make higher profits from high oil prices? I know this sounds like a naive question, but it seems like if supply is set by OPEC, gas companies would be paying those countries higher prices for the raw crude, so they wouldn't come out that much better. Do they make higher profits because they get a proportional mark up on a higher base price? Or is it because the gas companies have reserves that they have purchased previously at a lower price, but are now worth more? Can someone explain the economics of the oil industry to me?

economics , why oil prices increase? specifically in the last couple of months

Is it fair economics pricing already found& in production oil at prices based on higher cost of new oil finds? This is the fully-worded economics Q: Is it fair economics pricing already found& in production crude oils (appropriately adjusted for quality and logistic/transortation differentials at the prices based on the higher cost of finding and developing new oil finds in small oil fields? Specifically, why can't crude be priced based on weighted average E&P costs rather than being priced on speculator inflammed spot prices on a futures exchange or the monoply prices set by the OILCO'S AND OPEC. This is a pricing issue bec the system of pricing is biased to the upside rather than to the downside that we see in the competitive electronics industry and many other household goods that we buy from competing retailers? "Pricing is based more on the supply and demand than the extraction cost."I agree but only if you agree that the S&D is on top of per cartel/oilco crude and products spot pricing systems/contracts which shift all profits to the owners of the oil in the ground living the downstreamers , ie refining and marketing functions earning, dangling, with very little profit to show for their efforts. Do you agree? Repeating S&D determines price is an academic explanation. Oil is not bought and sold on a free-market contrary to propaganda. Charter a tanker, voyage to Ras Tanura and ask them to sell you crude so you can fill it to then trade or resell it. You won't get any crude bec OPEC does not deal with anyone even if you have the necessary letters of credit. Real world econ is not textbook BS. After 2 A's, I see no +reason to extend the Answer period!

Economics Majors...Supply and Demand......how much of the OIL supply is left? When is the oil scheduled to run out? Since supply and demand dictate economics.........does anyone have any idea what the supply of oil in the world is like? how many years left?

Are gas prices the result of mere economics, or are oil companies trying to keep people from going to church? What's your take on that? Obviously this question doesn't apply to those other Christians, who probably have hybrids or bicycles or something. Ent: They put governors on your truck? That's rought.

What Are The Economics Of Buying Oil From The Mid-East? Here's a layman's prospective: We buy oil from say...... Iran. They send us oil, we send them money. Now, money is only as valuable as the economy that backs it up. It's value fluctuates with the markets. So now that Iran is wallowing in wealth from all that money they have to spend it somewhere right? So where are they spending it? They are investing in Europe and the US. Now.... we have their natural resources and all they have is paper money dependant on OUR economy. AND we still have OUR natural resources. T. Boone Pickens talks about how the transfer of wealth will be our doom. I don't see it. Can someone enlighten me?

how do banking services benefit from economics of scale? How do Oil and Gas Industries benefit from economics of scale? and how does walmart benefit from economics of scale? im very confused.

Economics students. If excess oil was pumped into several old mines around N.O. La., what prices then??? That is what happened in the 70's when they were hollering shortages price hike. Here in Tx. around Abilene there are several hundred capped wells kept in top operating condition. There is a huge untapped oil field above the one currently being pumped. Tankers leave Abilene all day every day to take oil to the west coast to go to Japan while we were paying top dollar for MidEast oil. You really think these imagenary economic forces have anything to do with the price at the pump. You are young and naive. The GOP (grand oil party) is in it up to their necks about to drown and still they want more money, but first LETS GET RE-ELECTED It must be nice to think the supply and demand model is not controlled behind the scenes. Come to Tx. I'll show you where the oil is. sAVE THE ENGLISH AND SPELLING CORRECTIONS, and yeah I know about gravity, does not apply here.

Why can't oil companies invest a piece of their profits to lower the cost of gasoline? Oil executives had to go before congress to explain their high profits. The 5 biggest oil companies made a profit of 123 billion dollars last year. What if they took just 1 billion of those, and sunk it into the price of gasoline. Would that lower the cost signifigantly? I think the price is artificial, though I am no expert on economics. If everyone is hurting so terribly on prices, then the oil companys should be hurting to.

what factors affect the demand and supply of oil? answers to do with as economics?

Why do people believe oil companies are responsible for high gas prices? Please do not answer this with "because they do". Give me an example using economics,finance or otehr realistic testable theory to show how oil companies are manipulating prices. Mosat of your responses ignore the fact that oil companies HAVE NO CONTROL over the price of oil! It is set by the market - oil is traded on an exchange. It is near impossible for the oil companies to manipulate it! Yes, they could cut supplies to drive up prices, but then they are selling less! They have record profits because people refuse to drive fuel efficient cars and as a result the supply can barely cover the demand. So, once again, please explain how it is the oil companies fault?

Can you put vegetable oil in your engine without any conversions? What I want to know is can you put used vegetable oil, from like McDonald's or another restaurant, into your engine without any conversions to your vehicle or alterations or additives to the oil and the vehicle actually run? I've been trying to find this answer everywhere but every website mentions conversions. I want to know if it's possible to run it without adding anything to the oil or engine. I know you'd have to filter out debris of course. Please leave any links to your information. My economics teacher says one thing and my dad says another so I really want solid proof.

help in oil scarcity please add details to your answer? 4. Is oil scarce? What factors from the field of economics account for the price of oil?

How Can Any World Leaders Think Obama Can Lead the G20 on Economics, When so Far Obama has Ruined Ours? To me this is like the blind leading the blind. Obama knows nothing about economics or global finance--his wife had to tutor him to help he get through law school--even-- so how dumb must the other countries leaders, that Obama is the one they look to for advice and leadership? Why won't Obama show any leadership in the USA--AZ? Borders? Terror trials, Gulf Oil Disaster--he has shown no leadership only weakness.

How can the world economy thrive with today's oil prices? If oil climbs much higher, I cannot see how we could avoid a nasty episode of "stagflation". Speculators seem to be one of the few entities making money from this global funk! As energy costs climb, inflation takes off, but without any real value being added and subsequently job loss occurs. Then a vicious downward spiral plagues world economies! Supply and demand forces seem to be tainted by usurious investing and the normal cyclical nature of business and economics seems to be off track! Is this an incorrect analysis?

Why are gas prices still rising if the price of oil is going down? Stupid me, I thought that the reason gas prices were going to climb to $4 this summer was because the price of oil was skyrocketing. Well now oil prices have fallen and yet gas is still rising. What's the deal? Obviously my Economics 101 class was not enough to enable me to understand all this lol.

What do you think about OPEC reducing oil production to increase prices? "The price of oil fell today to just above the two-year low set last week after Japan, the world's second-largest economy, formally entered recession." http://business.timesonline.co.uk/tol/business/economics/article5170555.ece Is this fair, every time we as a nation conserve and use less oil, is OPEC just going to reduce production over and over?

Budgeting Research on Lighting Economics: What are the ultimate lighting solutions and state which are best? Budgeting Research on Lighting Economics: Suggest ultimate lighting solutions and state which are the most economical and which are the most effective per application. Ideas include task lighting, exclusive candle / oil lamp lighting, halogen, incandescent, florescent, kettle lamp, UV lamps, full spectrum, and upward pointed lighting.

Is it good for the economy if oil prices drop? I am not familiar with politics and economics, but with today's news, can the drop of oil prices hurt the US economy? Do the suppliers spike their prices to meet their profits which in turn gasoline companies take it out on us, the people? need some clarity....

What knowledge of peak oil do people have? I have studied it in my economics class, and have written a paper on it. The price of oil will continue to climb and there needs to be cleaner renewable sources of energy developed. King was correct in 1971 and will be correct now.

How much trouble would the US be in if both Iraq and Iran decide to sell oil in Euros? I haven't done much research in this department, economics gives my liberal head a headache. I've heard that Ahmadinejad is considering selling oil in Euros instead of dollars and this will totally mess up the US economy. If he gets his friend Maliki to do the same are we in big trouble?

How would you catagorize the market structure of oil/gas? I'm doing a merger profile for my economics class and I chose the merge between BP and Amoco. I have to catagorize the industry's (Major Integrated Oil and Gas) market structure as "perfect competition", "monopolistic competition", "oligopoly" or "monopoly". Then I have to explain why. Please give me your thoughts.

I'm in year 10 and doing Economics...need to know how inflation and oil prices effect my life??

do NASA scientist have the ability to help Americans become independent of oil? if we didn't need their oil so badly, could we stay out of their economic business? i think nasa scientist are probably brillant, could they focus on solar, geothermal, wave, wind, methane,magnetics,gravity,..., or are those fields so far from theirs that they could not? my life seems to be better when i mind my own business. when others have such different values and laws and if they watch our television programs they may think we are all heatherns, and then if out of greed, we get in their economics? if we could live in peace, seems like we could then have a even more awesome space program.

Anyone know any Oil companies based in Kuwait? I'm currently working on an economics project on the globalisation of Kuwait. I have to pick one firm within Kuwait that work in Oil. Does anyone know of any?

Did you know that within 30 years, we will have burned through most of our oil supply? I am currently reading a book called 'The End of Oil' by Paul Roberts. He is a writer and an expert on technology, economics, and nature. In this book, he writes about how our dependence on oil is hurting us badly. We are going to run out of oil within 30 years. All of the cars we have built will be no longer any use to us. Within the next 3 decades, we will no longer have the energy resource we have taken for granted all these years. So, with all this said, do you think our government is doing enough to find a more reliable, cleaner, safer energy source? No, trust me, it is 30 years. By the year 2035, our energy demands will double what they are today. The demand for oil will go from 8 million barrels to 140 million barrels a day. It is thirty years we have left. If you still don't believe me, you really have to read the book. He talks about oil wells in Saudi Arabia are being pumped with water to keep the oil flowing out...because they are starting to run dry. Either way, we are going to have to face this problem soon. Woops! 80 million barrels to 140 million barrels...not 8 million, my bad. Thanks, you and Jeffrey S are the only ones who really answered the question. As much as I agree with Jeffrey S and his analysis on oil, we still have to face the problem sooner or later, the government is not doing enough to solve the problem...I wish they would do more.

Really Easy: In economics if the demand for olive oil increases (shifts to right) what will happen to supply? if the demand for olive oil increases shifts to the right) because people find out its healthier, will the supply curve increase (shift to the right also) or will it stay the same? If this isn't enough information to answer the question here's the article: http://online.wsj.com/article/SB122143829094734385.html?mod=googlenews_wsj so if i had to draw it out the demand curve would shift to the right in which case i would draw arrows pointing to the new demand curve, and the supply will stay the same?

How much of the oil that's refined in Texas is kept here in the U.S.? This question came from a discussion my dad and I had at a breakfast buffet this morning. I know that we get our oil from the Saudis but how much of the oil do we get to keep that comes from places like Texas or Alaska (besides anybody from OPEC)? No personal biases, please. This question is under Social Sciences > Economics because I'm not sure where else it could go.

some economics say that reason for the rise in todays oil prices on the world market is b-c of the rise...? in todays oil prices on the world market is becuse of the rise in demand for oil from communist china?.....please explain this if any one know the answer

Can and will the price of oil ever go down? The price of oil per barrel is now $125 and I have heard it might hit $135. Now will the price of oil continue to rise? Will it ever go down? Or will it just keep on rising and rising. I am speaking on a worldwide scale because it affects everyone really. If there are any politics/economics specialists here (scientists too!)...from research and forecasts do you see the price of oil being reduced in the future?

Profiting from higer oil prices with futures trading? I am certain that oil prices are going higher mid to long term. 1-Can someone explain to me how far out I can get a contract? 2-Can I buy a futures contract that expires several years from now? 3-If so can I sell it any time I want, or does it have to be on that date exactly? 4-What is the leveraged amount? When are margin calls made? 5-Lastly how does an amateur investor trade futures (where do I start) Yes, I am certain that prices are going up dramatically very soon. This is based on peak oil, my research into geology and economics. Thanks a million (pun intended)

How do i be a oil trader? Guys i need you help please if any one could explain be how to become a oil trader? I live in UK Just finished my A levels and going in Brunel University for a Economics Degree. I have changed my mind i want to be a oil trader how can i be a oil trader? Should i change my degree I would like to to know how do it, where do apply for jobs to be oil trader. I searched on Google nothing came up only crap tranning courses came up. Please help me thanks.

What is the real cause of slowing down in the U.S. Economics in year 2008? why the economics is like this these days? what is the cause of it? and why the oil price is getting higher? why the housing business is bad? and why goods and services are so expensive? plz answer?

how crude oil prices are decided in International market? Back in the month of june- july the prices of Crude oil were more than $150/barrel. As the oil is a limited resources on earth and OPEC have near about monopoly in the sector. demand is also not decreasing. Economics says more demand prices bound to be high. then how the prices can fall to bellow $ 50/barrel? from an artical I come to know that It also affected by Future & option market. so can any body explain me that process also? Thanks

Economics: How does an increase in oil price affect....1. The demand for oil? 2. The demand for big cars? number 3 . the demand for hybrid cars?

economics essay....3 sub point needed for "Rise of Oil Prices: Causes and Justifications"? kk..ya i just wondering if any of you know any major reasons for this. I know one can be something like scarcity (hurricane n war in Iraq)...what other reasons are there for the rise in prices?

In economics, what's the relationship between the U.S. housing market, oil prices, and the falling dollar? How does it all relate?

Should global economics be manditory in high-school? For instance, I notice a lot of questions on here about the oil situation. A lot of confused people who inevtiably allow this issue to cloud who they will vote for. If everyone had a firmer grasp of global economics, these issues would go away and allow people to better focus on the more important and less clear cut issues of what to do. Things like social security or healthcare. If everyone had a firm grasp on global economics the issues of what to do about Iraq, oil, out-sourcing etc would go away. Doesn't that sound good? Shouldn't it be manditory?

Does fighting wars near oil producing countries hurt big oil? I hear a lot of people complain that the only motivation for the war is to get more oil. This has never made sense to me. I always thought that fighting wars near where oil was produced hurt big oil (and therefore us when we buy gas at the pumps) because it makes the oil producers more suspicous of western nations and therefore less likely to sign contracts, and it makes less safe and more costly to pump oil with fighting nearby for the oil producing countries. Am I right? Or can someone really somehow use this war to get more oil (and more money) from Iraq and the nearby countries? (People who understand the economics and politcs of the situation only please)

What is/was the real problem with Japanese Economics and Development? I know something about the Economic bubble and influences of WW2 and oil shortage, but I don't really understand the real problem.

I would like to know why gas prices (in my area) have gone up to 2$/ gallon when oil prices have fallen? I watch NYMEX everyday and oil prices closed today 33.98 a barrel. Demand for gasoline has dropped tremendously over the last year as well. Then why has the gas prices in my area resumed rising to 2.00 a gallon. When I took economics I believe that the law of supply and demand was responsible for pricing. OPEC has lowered production to meet demand, and our reserves are overflowing with oil now. So what gives? Anybody with an economically inclined answer that is most logical I would love to hear from. With all the layoffs and company closings there are 1,000's not traveling roads either so not only has demand dropped purposely to avoid paying the high price, but demand has dropped from all those people who dont have to travel back and forth to work anymore. The only plausible explanation I can come up with is the gas companies trying to make up losses by jacking up the prices (also called price gauging) to make up for losses incurred during this recession which in turn keeps the cost of products high and deman for products drops and so on down the line. I know of the downward spiral our economy is in, but jacking up prices is not the way to bring back customers to previous levels of demand, (at least not in my book). How ironic that I get an answer to my question in the news just a few days after posting this question. Here's the link. but thanks for the answers http://news.yahoo.com/s/ap/20090215/ap_on_bi_ge/gas_prices_unhinged

Where can I find information about the US economy? I'm doing a project in school, and I have to research on oil economics, specifically taxation in [Northern] Virginia. I can't seem to find any good sources, though. Can anyone tell me where I can find legitimate, reliable information?

Why the price of oil rises would lead to inflation? I just heard about this from BBC news. Maybe it is a silly question but i do not know. Hope somebody who knows economics well could help me. Tell the detail please. Thanks a lot.

How does a TAX on "windfall profits" for oil companies LOWER the price of gas....??? Since I only made a "C" in my college Economics class, will someone please explain Obama's plan to me? How does a tax on profits lower the price of gas? Wouldn't higher taxes increase the price? What am I missing here?

Should Congressmen be made to learn the basics of economics and business to better serve our nation? It is a sign of how far we have come as a nation when Congress can sanctimoniously parade in front of honest, hard working oil men and be treating them as if they belonged to the mob. It is clear that most Congressmen neither have the education, experience, or humility, to better understand market dynamics and so they can be a better informed and articulate representative of the people. This is a disgrace that Congress is acting in such a fashion.

Why do questions about high gas prices elicit answers from people who do not understand economics? I would guess that most people who complain about high gas prices are liberals who don't want to allow for the building of more refineries, nuclear power plants, and drilling in Alaska, and who prefer to have a larger government to protect them (reference to gas taxes which also increases the cost). You people all get what you deserve. And for those of you who think we should add addition taxes to oil companies for making such large profits, would you be willing to send them the money back in the years when they are not profitable?

What are the pros and cons of subsidizing oil companies? I have a bad feeling about the issue due to the extraordinary profits in this oligopolistic industry but have not actually done any analysis on the topic. So I'd appreciate hearing reasons why such subsidies do/do not make sense (or how they make sense in some ways but not in others). Thanks. (I'm asking this in both Economics and Current Events to see if I get different answers.)

When will the Democrats allow us to drill for American OIL? Even if we started drilling and didn't turn the tap, the threat of increased supply would make prices drop a great deal. Maybe Maxine Waters should study supply and demand economics instead of "reinvent the square wheel" socialism? More an dmore people will go hungry because high oil prices mean high food prices we cannot transition THAT fast to alternatives, it's not realistic

"I dont know anything about Economics" Bush/McCain..LETS DRLL so that my friends can make money.!!? Bush "Am not an economist" McCain "I dont know anything about economics" OIL WAS 1.40--IN THE YEAR 2000 OIL NOW 5.00 IN THE YEAR 2008 Bush/oil man I love oil LETS DRILL so that my friends can make money...

What is it about the political left and economics? I see some really dumb Q&A about the price of gasoline, or executive pay or the rich. Do you ever stop to think just because you don't earn your pay that others might. Do you think it possible that people who take greater financial risks should get a higher return when they win? Have you ever read anything other than socialist propaganda about the price of fuel? http://api-ec.api.org/about/index.cfm?bitmask=001002007000000000 http://api-ec.api.org/filelibrary/Oil-NaturalGas-Explanation.pdf http://www.eia.doe.gov/pub/oil_gas/petroleum/analysis_publications/primer_on_gasoline_prices/html/petbro.html just because the lefties you know are dishonest does not mean everyone else is. There are people in the world that work hard, make the correct decisions, take risks and make sacrifice, to EARN what they have. You should give it a try sometime instead of whining about costs or someone else's wealth. Want to complain, complain about the high cost of government. trouble - you're rambling, somewhat incoherently, did the question knock the wind out of you, come on the question is, what is it about the political left and economics, pretty straightforward question, tell me about it, since you are one of the lefty leftists.

what should i write in my economics paper? Im writing a 5 page paper on how oil affects the economy and i was wondering what should i include in it i know that i have to write about how oil affects the economy but what else should i put in the paper? i have about a page and less than half done..i just need to add more.

What are the arguments against having international water pipelines, given that oil is distributed this way? Why can't wet countries with too much water provide it for dry places? Apart from nationalistic and competitive reasons, are there any environmental or climatic dangers inherent in such a project? Are there any truly compelling reasons why we cannot manage our water better? What are the economics of such an idea?

What are the leading factors the USA is losing leader status in world economics? The USA has had natural resources by being a New World country. We have raped the Earth with strip mining. We cannot find much metals in our rock anymore. We still have oil fields, often in park reserves. Or is it only that foreign labor is cheaper? So, outsourcing is enriching other countries instead of our own employees.