Thursday, November 28, 2019

The Current Oil Crisis And How It Is Affecting The Economy Essays

The Current Oil Crisis And How It Is Affecting The Economy Report on the Current Oil Crisis, How it is Affecting the Economy, and Some Possible Outcomes November 14, 2000 With the current spike in oil prices, many American consumers have asked, what is going on? In order to fully understand the current situation and how it is affecting the economy one must look at a variety of factors including: the history of oil crisis in the United States, causes of the current situation, and possible outcomes for the future. It is only after meticulous research in these topics that one is prepared to answer the question, what is the best possible solution to the oil crisis? Although many critics have not yet labeled the current oil situation a crisis, there is sufficient evidence that it is becoming more severe and is beginning to reflect oil crisis of the past. The current crude oil price spike began early in 1999 due to a variety of factors. Struggle in the Middle East along with minimal policy changes from the Organization of Petroleum Exporting Countries and the U.S. Government has kept prices high to this very day. The History of Oil Crisis Within the United States Before looking at the current oil situation, it is important to understand the times of oil crisis in our countrys past. Through the years between 1970 and 2000, the price of oil has risen and fallen in often-drastic amounts. It is these price fluxuations in crude oil that has caused fuel prices to vary and the economy of the United States to be volatile. Throughout the past twenty years there have been several drastic changes in oil prices. These dramatic shifts are helpful to look at because of their impact upon the economy and the oil industry. During this time period there are three major shifts in oil price that can be linked to specific events in world history (Miller, 1998). First, the Arab oil embargo of 1973 caused a widespread oil crisis and brought crude oil from three dollars a barrel to a staggering twelve dollars a barrel. Second, the 1979 Iranian revolution caused another crisis that brought crude oil prices to an all time high of thirty-six dollars per barrel. Finally, the third major shift occurred in 1991 due to the Persian Gulf War (Miller, 1998). ? Source: The Energy Information Administration (Hakes, 1998). Oil crisis of 1973 The first large price shift in oil prices came in 1973. The oil crisis of 1973 began in the Mediterranean because of a war. The Yom Kippur War was a result of an attack on Israel by Syria and Egypt an October 5, 1973. Throughout history, the United States has always shown support for Israel and its campaigns. This situation was no different. The United States and many countries in the western world showed strong support for Israel (Williams, 1999). As a result of this support, Arab exporting nations imposed an embargo on the nations supporting Israel (Williams, 1999). Because these nations had the power of a monopoly in the oil industry, they tried to use the embargo as a blackmail technique. The Arab nations began the embargo by curtailing oil production by five million barrels per day. In turn, the United States increased production in other countries by about one million barrels per day. The remaining net loss of four million barrels per day extended through March of 1974 and repr esented seven percent of the free-world production (Williams, 1999). The oil embargo was imposed by Arab oil producers through the then-powerful cartel, the Organization of Petroleum Exporting Countries (OPEC)(Miller, 1998). OPEC was founded in 1960 with five members: Iraq, Kuwait, Saudi Arabia, and Venezuela. Six other nations had joined OPEC by the end of 1971. These included Qatar, Indonesia, United Arab Emirates, Algeria, and Nigeria. This cartel had experienced a decline in the real value of their product since the foundation of the Organization of Petroleum Exporting Countries (Williams, 1999). But in March of 1971, the power to control crude oil prices shifted from Texas and the United States to OPEC because of a change in governmental regulations. If there was any doubt that the ability to control crude oil prices had passed from the United States to OPEC,

Sunday, November 24, 2019

Jesse James essays

Jesse James essays Jesse James has to be one of the most well known outlaws of United States history. Along with his brother Frank and their cohorts, the Younger brothers, they ransacked banks and trains across the western frontier, while winning their way into history and the hearts of Americans. Albert Castel takes the reader through the real life and death of the James gang. Frank James was born to Robert and Zerelda James on January 10, 1843. His younger brother Jesse followed him on September 5, 1847. The James' had a farm in Clay County Missouri. Robert was an ordained pastor of a Baptist church, as well a founder of William Jewell College at Liberty. Zerelda attended school at a local Catholic convent. The James name had a respectable and solid background until the late 1850's. In 1850 Robert caught the gold fever that was sweeping the nation, and moved to California. Unfortunately, all he ended up with was sickness and eventually death. After Robert left the family, Zerelda remarried two times. Her second husband was Benjamin Simms, who stayed with her only for a short while then died. Later in 1859 she met and married Dr. Ruben Samuel; he dedicated his life to working the James' family farm. Together he and Zerelda had four children, two boys and two girls. It isn't known how well or how badly Frank and Jesse dealt with their awkward childhood, actually no facts are known about either of the boys childhoods. By 1861, most of Missouri was siding with the union during the Civil War, however many slave holders in western Missouri sided with the Confederacy. This was true for the James-Samuel family. Young Frank joined the confederate forces of Major General Sterling Price at the young age of eighteen. Frank fought for the Confederacy until they were driven into Arkansas. From there along with many others, Frank fled back to his home and family. Cole Younger got his start as a "bushwhacker" in western Missouri. Cole joined th ...

Thursday, November 21, 2019

Human Resource Essay Example | Topics and Well Written Essays - 250 words - 1

Human Resource - Essay Example ition, it I concerned with modern industrial relations, for instance, it balances organizational practices with regulations that arise from collective bargaining and legislative laws. From the definition above, I would disagree that every manager is HR manager; however, I would argue that management of human resources is part of every manager’s job. Not every manager takes part in the recruitment and selection of employees, however, the rest of the definition of human resource management holds to every manager. Managers have the ability to functional guide their teams/departments, organization as whole and/or individual employees. For instance, the corrective actions in which managers perform effectively provide re-directional guidance for the employees’ behaviors (Kumar, 2011). Every manager comes into contact with people hence manages them by doing some fundamental HR management. They are required effectively to influence the teams they head to complete the task, managing the individuals on the team make a portion of their job same as the HR manager. In the case, the team members fail to get along well, or other problems arise, the most likely per son to deal with the situation is the manager. Further, managers are undoubtedly involved in employee training and development. On the process, they evaluate them so as to promote them. Generally, every manager is plainly attempting to enhance the adequacy or effectiveness of their workers by regulating them, advising them, correcting them and motivating them (Kumar,