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建立人际资源圈澳洲essay代写：Oil Price Movements
2017-05-08 来源: 51due教员组 类别: Essay范文
本篇澳洲essay代写讲了2003年至2015年，世界原油价格波动较大。能源市场的趋势与世界各国的发展和未来息息相关。进一步了解石油价格走势可以帮助人们了解能源的本质以及能源利用的新趋势。本篇澳洲essay代写由51due论文代写机构整理，供大家参考阅读。
The world crude oil price has undergone great fluctuation from 2003 to 2015. The trends of energy market are concerning the development and future of every country across the world. Further insight into the oil price movements could help people to significantly understand the essence of energy resources as well as the new trends in energy utilization.
Following is a time-series graph of quarterly oil price movements from January 2003 to July 2015 with solid data sources from the Organization of the Petroleum Exporting Countries, an intergovernmental organization which is comprised of twelve world’s most important oil exporting countries including Saudi Arabia, United Arab Emirates and so on.Oil Price Movements from 2003 to 2015
According to the graph above, oil price has changed radically during the last decade. At the beginning of 2003, oil price was holding at around 30 dollars per barrel with a steady rise till 2005. Since the beginning of 2005, oil price was set to soar to an astonishing 136.94 dollars per barrel in October 2008. However, a dramatic fall of price closely followed from 2008 to the mid of 2009. The lowest price hit 40.44 dollars in October, 2009. Then from October 2009 to July 2014, oil price continued to rise, reaching the second price peak at 121.62 dollars per barrel in April 2012 and 108.68 dollars in July 2014. From October 2014 to the present (July 2015), oil price has reached the lowest point of 51.78 dollars per barrel and remains below 100 dollars. (“OPEC”)
Crude oil is a world commodity and the primary input into the production of many products in our daily. In addition to the motor fuel, the crude oil can also be used in the production of plastic bag, polyester fiber, paint and so on. Though the reasons for the price movement could be complicated, three factors may mainly contribute to the price changes of the crude oil.
First of all, the world economic development influences oil prices. According to theories in the economics, price is determined by the relationship of supply and demand. From 2003 to 2008, world’s economy enjoyed a repaid growth with great demands of crude oil for petroleum refining and machinery fuel. Taking the automobile growing rate for instance, the total output of world’s automobile was 73,101,700 units in 2007, increased by 5.4% compared with that in 2006. (Wakefield 2-3) In addition to developed countries like the United States, some developing countries including China, Brazil and India have greatly contributed to such development—only China’s output capacity increased by 22% in 2007. Huge increase of the automobile led to a great demands of oil, thus caused a price soar in that period. In 2008, world’s financial crisis broke out. Since then, economic growth has slowed down, which results in the fall of oil price from 2008 till now.
Secondly, world security situation and wars may change the oil price. From 2003 to the present, there are some significant world events that impacted on the price of oil. In 2003, the Iraq war broke out, greatly reducing oil exports from Iraq. In 2004, Gulf of Mexico suffered Hurricane Ivan with oil and gas exploration infrastructure being damaged in North America. From 2006 to 2008, the terrorism threats in the Middle East as well as the energy dispute between Russia and Ukraine has made these oil producing giants suffer great production losses and instability. (Leonardo 113) All these unstable period had significant increased the oil prices due to the decreased product supply.
Last but not least, new technology development has greatly contributed to the oil price change. Since 2010, the new technology “hydraulic fracturing” started to be widely applied in America, which led to a “shale revolution” in the North America. Such new technology greatly improves the efficiency of oil exploration and production with huge oil reserve being discovered under the earth. In 2010, the oil production from shale exceeded 100 billion cubic meters backed by the new technology “hydraulic fracturing”, increased 20 times compared with that in 2006. (Bennett 42-57) Moreover, the development of hybrid vehicles and electric-driven automobile is changing the future energy structure. The first fully electric automobile Tesla Roadster was released in 2012. Till 2015, the total sales of electric Tesla car passed 75,000 units, marking a milestone for the era of new energy-driven vehicles to replace oil-drive ones. Oil is now faced with great challenge in the fuel market due to the new technology in energy utilization, which mainly contributes the fall of oil price since 2010 till now. (Cobb)
Oil is important to our life. The reasons of world economy development, security situations and new technology innovation are only parts of elements to influence oil price movement. However, people would learn from the above analysis that—though resources are limited, the blind faith in resource protection and using limitation could not solve the problem. Only by developing new technology, safeguarding world peace and promoting global economic cooperation could achieve the sustainable development of both human beings and nature.
Bibliography
Bennett, Les. The Source for Hydraulic Fracture Characterization. Houston: Schlumberger LLC., 2006: 42–57.
Cobb, Jeff. Tesla Model S Crosses 50,000 U.S. Sales Milestone. HybridCars.com and Baum & Associates. 6 July 2015
Leonardo, Maugeri. The Age of Oil: The Mythology, History, and Future of the World's Most Controversial Resource. Santa Barbara: Greenwood Publishing Group, 2006: 113.
“OPEC”. OPEC Bucket Price. Organization of Petroleum Exporting Countries Website. 3 September 2015
Wakefield, Ernest. History of the Electric Automobile. New York:Society of Automotive Engineers, 2008:2–3.
