Energy is what makes the world run today. Without energy all the machines that allow us to live the luxurious life that we live will stop working. Many of us would not mind going in our car to the grocery store that is 5 minutes away by walk. Most of the cars we use today run on fossil fuel. I know there are a few on the road that run on electricity, but guess what: the electricity that you use to charge the battery was produced by burning coal.
How is the European debt crisis going to affect the oil trade and business in the continent? This is the question that many of the people engaged in oil business have been asking after the beginning of the financial problems in Europe in 2011. The answer might appear to be quite complex because it is yet unknown what is actually gonna happen with the European commodity and stock markets. Nonetheless, a prediction by leading European economists indicate that the future of oil might not be that bright in the second largest oil consumer in the world – the EU.
Oil is now related as an ending resource to absolutely any transportation industry and activity (such as moving and handling instructor courses and separate transportation cores) and any other branch of production indirectly related to oil (such as technology and electronics). However, rather than worrying about oil, we might now be sure that there is much to be discovered. As the US unleashes a new program about discovering resources on the territory of the country, oil deposits keep appearing on the map making the country a possible leader in the oil industry in the upcoming years, overtaking Saudi Arabia and Russia.
Claims like this can be easily proved with the discovery of the Bakker ’Boom’. The Environmental News Network (http://www.enn.com/energy/article/43303) reports that the amount of oil in this area might well reach some 11 billion barrels and even exceed that amount thus contributing a huge amount of fuel to the american consumers for a short period of time. The states Montana and North Dakota are most likely to be the first states to benefit from the upcoming oil boom in the US as the deposits would be most comfortably extracted from these locations.
The news about the oil deposits puts a doze of certainty into the troubled US society – it is now certain that there would be oil in the upcoming decade unlike some predictions by economists that the deficiency of oil would force the American consumers to put up with extortionate prices. The oil extraction would also have a positive effect over the employment opportunities in these states and would significantly improve the economic situation of the US because currently the US is importing almost two thirds of its oil from abroad. Should the Bakker oil basin be developed as a leading source of fuel, the US might afford financial stability and large oil reserves.
The prices have always been rising, but it has jumped really high recently. Well that’s not the only problem, apart from the high prices there is also a shortage in petrol production due to the Arab revolutions in countries like Libya.
There was a time when people used to think what they would do if there was no petrol. Thankfully nowadays people know what they would do if there is no more petrol. There are many options of alternate energy, More
If you open Google news and type any sensible word in the search, most likely you will find news related to that word, from all around the world. But that does not really mean that the word that you typed was important. However with every news headline in there, below it mentions the time when it was posted. The word that will have higher number of recent posts is most likely going to be the most important word. Now go More
Oil is a commodity which we all take for granted and come into contact with on a daily basis. Yet the companies who are controlling the supply of this resource are not always doing the best job they can in ensuring safety and environmental standards are met. Oil is not dirty – it is how it is treated by some companies that make it dirty. Shell is the latest company to come under scrutiny.
A news item reported in The Guardian online just two days ago illustrates how much farther there is to go in convincing people that oil is and can be safe. As always it is the way the substance is treated by man that causes the problems. With BP still reeling from international condemnation from last year’s spill off the Gulf of Mexico, oil giants seem eager to incite hatred against them with the latest news from Nigeria.
For the past 50 years Shell has been drilling in and around the area known as Goi, 40 miles from the port of Harcourt in Nigeria. Due to some lax regulation from the Nigerian authorities, drilling and environmental concerns have not been taken as seriously as they should have been by the oil giant. Goi itself is now uninhabitable following a number of spills over the years that have been quietly swept under the carpet amongst the international community. It is only now thanks to the power of the internet, things like worldsim cards have become readily available in Nigeria enabling people previously without a louder voice to communicate effectively with the rest of the world.
Shell is currently facing a law suit in The Hague thanks to Goi resident and Deacon Barrisa Tete Dooh. Dooh has galvanised the former residents of Goi into action and whether or not their case is successful is almost a moot point. The publicity they hope to generate should be enough to make the world stand up and pay attention. The worst thing about the case is that Shell is another high profile provider of oil that can ill afford to annoy the people that rely on it.
It is difficult to say whether or not Shell is solely responsible for the Goi spills and subsequent move of its inhabitants. However as a well known oil giant living through a time where public outrage at oil spills, banks and much more is at fever pitch, Shell needs to be seen to be setting a good example. If it is found guilty in The Hague, perhaps it will encourage other oil companies to step up and take the lead in changing out-dated and environmentally unsound operating practises. Profit may be the defining factor on the balance sheet for Shell, but the costs they will incur from the trial and the potential damages involved could be the thing to force the top executives to take note and clean up their act.
Eastern Europe keeps suffering from the economic disturbances around the world. The most recent shock is the increasing oil price that hit the region with increased petrol prices. Most of the households in the region denied to be able to afford petrol at these prices any longer and demanded their governments to take reasonable measures in order to maintain the affordable price limit over fuels.
The most damaged economy from the fuel prices increase was Bulgaria. The country is now More
Drilling for oil has been a source of contention among policy makers for years. The shocking rise in oil prices over the last five years has had a negative impact on not only the local economy but also the global economy in general. The usual end result of oil price hikes is a slowing down of the rate of growth of an economy which often leads to an increase in the inflation rate.
With oil prices'dropping by $4.00 at the close of day yesterday it has many people wondering if it will have an immediate impact on the high cost of auto fuel. Sadly the answer is no, and although people are weary of outrageous gas prices there is no real end in sight. There are far too many factors that work against consumers seeing any significant drop in price at the pumps. The first and foremost issue being that although the price More
What seems like a blessing can also become a curse if care is not taken. This is the case in an oil producing country in the western part of Africa called Nigeria. The nation is very rich with oil even if its leaders are corrupt and keep embezzling funds from oil money. This is not to criticise anyone or to pick on any nation because corruption is part of every country in the world. The discovery of crude oil in More
