Kazakhstan: Macroeconomic Overview Essay

Oil has often been referred to as any economy’s lifeblood. Although this is an overemphasis, oil has been the key, nonhuman resource of the economy throughout the largest part of the 20th century. In the book “The Prize: The Epic Quest for Oil, Money, And Power” by Daniel Yergin, the author illustrates the political, societal, economic, and geo-strategic importance of this product.

Russia’s economy is very complex and also very terrible at the same time. Many other economy’s are also like this but Russia’s is a very interesting thing to learn about. Russia’s economy has many things wrong with it that in the long run could probably affected it in a negative way. But it also has many positive things about it.The negatives and the positives are, in my opinion, are equal in Russia economy.

Wildcat Oil has recently discovered a 500 million barrel crude oil reservoir in Kasakstan, and the firm needs a preliminary cost estimate for a feasibility study for a facility to produce the oil and for transporting this oil. Wildcat Oil has already paid the Kasakstan govt. $400M in up-front lease costs for this reservoir. Engineers predict recovery of about 300 million barrels with current technology, however the oil facilities and

The U.S. should invest in alternatives to oil, and drill on the United States grounds because it will assist the economy, preserve energy and fix the world’s environmental problems. The supply and demand for oil is always on the rise, and problems are contemplated with the use for oil. Those problems are starting to catch up to the modern world, and something needs to change before the world enters a black out. Experts can predict that there is estimated to be somewhere around 61 years of oil left for us to use at our current rate. The demand for oil is always rising. People in today’s modern society rely so heavily on oil, that they would not know what to expect if it

It can produce 10 million barrels on average each day. Thus, it is a good idea to choose Russia (Workman, 2016). In this 3 months, we also can improve our technology to increase yield of crude oil. This is very helpful after we get back our oil platform. Because we must increase yield of crude oil to make up for the loss. In addition, we spent 5 million dollars to Mexican drug cartel mercenaries. We also should gain these 5 million dollars with high yield of crude oil. Thus, this 3 months, we not only should find a good manufacture of crude oil, but also should improve our technology so that we can make profits after we get back our oil

Another repercussion of the Soviet Union’s collapse was the failure of the economies of almost every new post-Soviet country. Most of the economies of the new Republics were left in shambles after the collapse. In Russia, people were not ready for the new economic freedom that resulted from the fall of Communism. Their unpreparedness led to inflation. “Inflation caused prices to go up three hundred percent in the first month, and 2,591 percent by the end of 1992.”( Russian Economy in the Aftermath of the Collapse of the Soviet Union) Just three years after the Soviet Union’s fall, Russia’s inflation rate had skyrocketed to 2591 percent, evidencing that Russians were not prepared for such a rapid evolution, going from a communist economy into a capitalist economy. All post-Soviet countries had the same economic fate as Russia, plunging into worse economic conditions than the United States suffered during its Great Depression. For example, in 1992, the Ukraine had almost a fifteen percent drop in its gross domestic production and Latvia suffered a 33 percent drop. (GDP growth) Many of these countries’ economies are still suffering as a result of the rapid evolution

The chapter by Manabu Shimizu focuses on Japan’s efforts in oil exploration and the country’s future goals in the oil industry. Since Japan imports all of its oil, the “challenge is to establish a long-term, sustainable oil supply” (Shimizu 113). Japan has begun to fund Central Asian oil exploration in the hopes of a big oil market being produced for that region. However, Japan does not intend to import oil from Central Asia, rather they want other regions to do import. By doing so, some of the production pressure is lifted from the Middle East, which is where most of Japan’s oil comes from. At the moment, the Middle East is the main producer of oil for many countries with great power over the market, and Japan hopes to create another market

In addition to the US peak oil situation, the US Oil Drilling and Gas Extraction Industry faces heavy foreign market competition. In 2011, the US ranked 3rd in oil production, behind Saudi Arabia and Russia (Energy, 2012). Saudi Arabia’s OPEC governor expects Saudi output to rise steadily beyond 2030 with a 1.5 million barrel per day spare production capacity then (Energy, 2012). Russia holds the world’s largest

Education is important in many cultures because it gives an opportunity to gain the skill which is needed to navigate in the world. It plays a crucial factor in all countries. Also, it is important in the country like Kazakhstan which is developing. The education system of Kazakhstan has changed a lot from the USSR’s collapsing. It was improved and modified. However, the result of PISA ranked the knowledge of the 15 years old students to 49th in 2012 (PISA 2012 Results in Focus, 2014). The ranking shows the education system of school needs an amelioration. Therefore, the Kazakhstani government requested technical assistance to improve the nation’s educational system in 2011(PISA 2012 Results in Focus, 2014). In response, the World Bank Group launched the Joint Economic Research Program, or JERP, in order to enhance the quality of education. After researches there were provided additional technical equipment to schools but the method or approach of teaching was not changed. There is mistake that the way of teaching and requirements to teachers weren’t considered that could have improved the system. The method of teaching of successful countries should have considered and applied for Kazakhstani schools’ education. Therefore, this research was conducted in order to regard the gap. As an example country for application its experience Finland was chosen because Finland’s way has significant implication for reformer, especially those who is facing the same problems. Finland

Throughout the years, the United States of America has endured a very strong economy. Although there have been many obstacles of hindrance such as trade deficits, wars, hostile governments and embargo’s, the economic status of the United States still continues to prevail. Just to name a few, the economy of this country survives on simple commodities such as pork, oranges, precious metals and the productive efforts of its citizens. In this paper, I will not only introduce and discuss the logistics of both the United States and the United Kingdom; I will discuss its key economic obstacles and its economic well being.

As previously mentioned the project is expected to cost more than $3.7 billion and will be funded by the World Bank and the International Financial Corporation. The total costs have two major sections i.e. the Field System of more than $1.5 billion and the Export System at approximately $2.2 billion. The Field System is geared towards the development of Chad's Doba oil fields that includes the construction of related infrastructure and facilities and drilling of around 300 wells. The Export System incorporates the construction of a 670-mile, 30-inch pipeline from Chad's Doba oil fields to Kribi's Atlantic coast in

The world’s largest producer of crude oil is Russia producing more than 5.3 million barrels per day (Barden 2017). The history of Russia’s oil industry started in the 16th

World oil demand is increasing as emerging economies need more energy to increase their living standards. Estimates, shown below, are that by 2030, China and India as emerging markets will import over 70% to 90% of their fossil fuel needs (1) . Coupled to a continued high and growing demand for oil, makes this a robust market for the next 30 years.

Central Bank of Russia (CBR) introduced an exchange rate target band. The regime was mutating during the following three years, featuring various corridor ranges, levels and crawls. Also, from 1996 the CBR targeted an “inner band” with a small range and a short announcement horizon, in order to smooth the day-to-day fluctuations of the ruble. Yet the principal regime remained in place until August 1998. It slowed ruble depreciation to a 9.7% average during target regime which compares impressively to the 138% during the 2 years prior to it. Cash revenues declined, on the federal level they fell from 12.9% of GDP in 1995 to just 10.7% in 1998. Enlarged government revenues declined from 33% to 31.7%. Tax collection problems were mostly structural and tedious to ease. Tax laws were complicated, inefficient and inconsistent.

The country has been able to take advantage of the region’s positive prospects and should continue to do so in coming years. The country has good prospects for economic growth and foreign direct investment (FDI), import cover levels are comfortable, and political risk is relatively low.