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Oil Crisis - Online Term Papers

Oil Crisis

The Oil Crisis

In the past 2 years, oil prices have continued to soar, hence causing record-breaking fuel and heating costs throughout the world. So, what is behind the rise in oil prices? According to OPEC President Purnomo Yusgiantoro, scarcity is not the issue. “OPEC already oversupplies, but oil prices are too high.... This is not a supply and demand balance problem. This is not because of fundamental factors.” (1) Is he right? Let’s explore further.

The issue appears to be that the markets are worried by a series of risks, in Iraq, Venezuela, Russia, Nigeria, and elsewhere, rather than focusing on whether or not there is truly an oil shortage. Are the markets right to be ...

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money. This is substantially more than the $48 (or so) that oil actually costs us now.

India has 2.4% of the world's land, but support 16% of the global population. If it was possible to priorities from the daunting checklist of environmental problems, then water management would be a strong candidate. Ambitious projects are readily conceived and announced, notably the $200 billion river-linking plan which aims to connect relatively healthy river in the north to those further south. Together with privatization of urban water supplies, such mega-projects are viewed with suspicion as devices to transfer water resources from the poor to the rich. The government's claim that the water and sanitation MDG is already close to being achieved sounds over-optimistic with sanitation cover only 40% in rural India and water programmes now under threat from climate change.

The monsoon cycle recently has not been following its familiar path and there are alarming estimate that change to the ...

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PAPER DETAILS
Added: 9/9/2012 08:53:39 AM
Submitted By: sharibzafar
Category: Economics
Type: Premium Paper
Words: 481
Pages: 2

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