Gas & Oil Shortage Oil

All these factors have added too many variables to the Middle East, an important region for crude oil production” (Xuequan, 2008).

4. Conclusions

The improved standards of living have contributed significantly to an increase in the populations demands. And to satisfy these demands, with the ultimate scope of registering higher profits, the American corporations have abused the natural resources and are now moving towards the resources in other countries. Two such vital resources are crude oil and natural gas. The situation of gas is quite stable, but that of oil is critical. Based on limited natural resources, a weakening American dollar, speculative operations on the international market, but also the regulations implemented by OPEC and the conflicts in the Middle East, the price of oil has sky rocked – and it is likely to continue its ascendant trajectory.

References

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Xuequan, M., April 18, 2008, Weak Dollar Not Sole Reason for High Oil Prices, Xinhua News Agency, http://news.xinhuanet.com/english/2008-04/18/content_7999121.html. Ast accessed on May 30, 2008

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