OPEC

This informative article by Lutz Kilian discusses shale oil and its effect on oil prices in the United States. Shale oil is a term used by the oil industry for oil that is obtained from low-permeability rock, and it has caused a resurgence of oil production in the United States. This type of oil production was not available until quite recently, because of several technological advances in the industry. Currently, shale oil production, mostly from western states, accounts for a sizeable amount…

Colombia is a Spanish speaking nation, located to the South of Venezuela. Colombia, as of 2016, has a population of 48,481,028 people. The Official Colombian currency is the Peso. The Peso is worth a miniscule 0.051 American dollars. Colombia’s main export is petroleum, with coffee and coal not far behind. Colombia’s main imports are most mechanical, and technological products. The United States, the main trade partner of Colombia provides most of these imports. The capital of Colombia is Bogota…

Glen Hager was raised in a Baptist farming family and has had a variety of jobs throughout his career, which are extremely important to maintaining Texas finance. Hager is the Chief Revenue Estimator, which basically means that he is responsible for estimating how much money Texas will receive into the State Treasury every other year. Therefore, he is forced to analyze the facts and think about how much money Texas either receives or loses. Furthermore, Hager is also a tax collector for the…

Pros and Cons of Fracking Grandriver Getty images.com By Daniela Bobadilla, Christopher Gleason, Irvin Casillas Fracking is just another way of saying hydraulic fracturing, which is the process of cracking through sentiments (hence fracturing) to make harvesting resources such as oil more accessible. The fracking process uses pressurized water with a combination of other materials to penetrate into said sentiment. In the late 1940s, engineers used fracking to increase oil production.…

Journal Entry 2 – Economics – By Kyra Cameron This article by Ian Austen is about explaining the damages caused by the fires in Fort McMurray, Alberta to the Oil Sands industry, leading to a negative effect on the Canadian Economy. During the fires in Fort McMurray many oil companies slowed down or stopped pumping oil and production stopped by approximately 1 million barrels a day. With oil being a major industry in Alberta, overall output dropped by about 40 percent due to the decrease in…

IMPACT OF FRACKING IN THE ECONOMY A. IMPACTS OF FRACKING IN TEXAS ECONOMY 1. OIL & GAS Texas is well know for its oil and gas production it produces 29 percent of America’s natural gas and 1.7 million barrels of oil a day. Making it the largest producer of gas and oil among all states. Texas is also home to the largest oil field in the country, Eagle Ford Formation; it produces over 1 million barrels of oil per day accounting for more than 50% of the state’s oil production. 2. JOB PRODUCTION…

1.8: Mossadegh and Oil Nationalization Crisis Amid the development to nationalize the Iranian oil industry, the US-Iranian relationship confronted an emergency in 1951. Iran's oil industry was the most essential industry in the nation. It was a guideline wellspring of remote trade incomes. Be that as it may, it was under the control of British. For a considerable length of time, the British government had gotten from the Iranian oil operation for more salary than the Iranian government itself.…

SAMIR Moroccan and Italian refining, started in 1959 as a limited company. Represented by the "Office of Studies and Industrial Portfolio" and "Italian petroleum board." It were the first crude oil distribution unit has a capacity of 1.25 million tons per year. The company becomes Moroccan entirely in 1973. In 1996 made its IPO in the Casablanca Stock Exchange. In 1997 privatization and transfer of 67.27% stake in Corral group. SAMIR Company has a 10 tons per year refining capacity. A storage…

Pakistan has always been in the deficit regarding balance of payement, the reason behind this is that the government of Pakistan has always focused of saving the foreign exchange rather than earning it, Successive governments of Pakistan have focused on saving the foreignexchange rather than earning it. Whereas, there has been an bias of anit-export and on the other hand a very composite system of foreign exchange control to contain the imports to balance the foreign exchange availability.…

Unocal Oil Company of California (Unocal) was founded in 1890, and has developed into a full service oil business in 1990’s. The services include extraction, refining, distribution, marketing, and retail. In the United States most of the oil fields were almost depleted, so Unocal turned to foreign investments focusing on presenting the fact that they had expertise in all aspects of oil and gas production to the governments. “One of the international projects that attracted the company’s…