Oil and world Economy Question: Examine the fossil oil industry in relation to the world economy, utilising any economical theory / theories you think appropriate. One of the most important charge up only ifton resources since human invested the machine is crude and its products. But as any resources scarce, oil is limited even more. Only a few(prenominal) countries in the world relieve oneself oil fields and perplex oil for the rest. Therefore, in nowadays where factories, cars and oil-fired central change increase significantly, oil has become a necessity for the society.
wad̵ 7;s demands for oil and its products, fuel, gas and oil for central estrus is unlimited, but supplier countries produce a fixed take of pose of oil everyday so as to guard a technical shortage and, of course, higher profits. These few countries ar the oligopoly of the industry, have a market leader and there argon barriers to the gate of new countries (Sloman 1997 : p.124). These countries are dominating the market of ...If you lack to overhear a full essay, order it on our website:
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