Stop Burdening Small Businesses

In our society, oil is one of the core requirements. Whether it is to drive from a point A to a point B or to fly between distant countries, oil always had a fundamental impact on our civilization. Its impact is felt, on a daily basis and under many aspects. Not a day goes by without hearing about the Brent's changing undulation, on the markets in New York or London. Some have thought that the desire to gain control of Iran's oil resources was the core of the CIA's intervention in that country, in the 1950s. In recent years, it was considered, by left-wing groups, that the war in Iraq was based upon an attempt of foreign control over the Iraqi petroleum resources. Even though both events have an unquestioned place

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.

As the essay advocates for small businesses, it fails to take notice that the existence of such small businesses can not reduce the American’s desire to buy affordable goods (Mitchell,

In the article “Minimum Wage Laws are Destroying Jobs - Just as Predicted” by Larry Elder, Elder discusses the negative impact raising minimum wage has on small businesses. Through the use of testimonies from companies affected by the raise in minimum wage and statistics from the wage increase in California, Elder appeals to both the emotions and logic of the reader. He references a small restaurant owner who knew he could not support this increase in wages, but was told by Los Angeles Mayor Eric Garcetti that it was not going to be an issue for him. By showing the negative outcomes of this decision such as unemployment, higher prices, and businesses closures, Elder appeals the reader's emotions. He wants us to understand the hardships and

This quote suggests that an important factor of a booming economy is the worker. A simple fact is that the more the worker makes, the more goes into the economy. Moreover, in President Obama’s State of the Union address back in 2013, he notes that raising the minimum wage means that “for businesses across the country, it would mean customers with more money in their pockets” (Luhby 1). This proposes that an increase in the minimum wage helps businesses as well as the worker. As of right now, American people whose sole income is through a minimum wage salary can barely afford to pay for basic needs such as groceries and rent. With not a dollar to spare, every single penny of their already small paycheck goes towards these basic necessities. With an increase in their salary, the more Americans making minimum wage can spend on things outside of their basic necessities, which would in turn help out businesses in America and contribute the economy of the country as a whole.

Increasing the FMW would be devastating to many small businesses. According to the SBA size standards ninety-nine percent of companies in the United States qualify as small. Therefore, they are just as crucial to the american economy and workforce as the large corporations. Raising minimum wage would hit these small businesses the hardest, because many times they do not have a surplus funds to fall back on. In “Seattle’s Coming $15 Minimum Wage” Alexander(2015) reveals the harm that Seattle's $15 minimum wage hike has done to small businesses. The author supports their argument by getting testimonies from multiple small business owners all over seattle. One of them Joe Salvatore, general manager at a The Recycling Depot, states a common misconception

Two-thirds of the world’s remaining oil reserves are in the Middle East which will make international policy imperative in the future (Campbell 2007). It is

We must make sure that the small franchises, that may only have a small amount of workers, aren't put out of business by financial change. The line is split directly down the middle, one half saying that the minimum wage should be raised and the other knowing that if the raise happens, many small businesses will collapse with the financial

“Every 10% drop in prices of oil adds 0.1% to the US economy, and the sooner the Iraqis start pumping, the faster the plunge in per-barrel prices. A quick war that ends with a new oil minister in place by the end of the year would bump up Iraq's production to 4 million barrels per day by 2006 from a current 2 million, collapsing prices into the low teens“ (Lynn J Cook 1).

In a revealing article by George Perry (2001) the author discusses the economic impact that a disruption in the oil supplies would have on world oil prices. He states “Currently 28 percent of the world's crude oil comes from the Organization of Arab Petroleum Exporting Countries (OAPEC) consisting of Arab Muslim nations, some of which are not part of the OPEC cartel. The governing regimes in all these countries are at some risk [due to the war on terrorism].” He goes on to state that in a worst case scenario the economic consequences of oil supply disruption would be “oil prices rise to $161 per barrel driving gasoline price to $4.84 per gallon. The increase in the nation's bill for products of crude oil rises by about 10 percent of GDP, which adds perhaps 15 percent to the inflation rate in the first year. And the recession is the steepest and deepest of the postwar period, with GDP declining nearly 5 percent the first year.”

In order to understand why the U.S. should remain a consumer of Middle Eastern oil it is first necessary to agree that overlap exists between the four elements of national power: Diplomatic, Informational, Military and Economic. For starters, there is an important difference between “energy security” and “energy independence.” Energy security is a condition in which the net supply of energy resources is reliably delivered at a fair market price in order to meet a country’s domestic energy demands. As the end of the Second World War drew near President Roosevelt struck a bargain with King Abdul Aziz that the U.S. would support the house of al Saud in exchange for reliable access to the Kingdom’s oil resources. The roots of the Central Intelligence Agency’s 1953 coup d’état of Mohammad Mossadegh are firmly entwined in

The Energy Information Administration in 2004 released puzzling information that by 2025, Saudi Arabia will have doubled the demand of the oil needed for consumption; 22.5 barrels of oil per day. Maass explains that this information cannot be more than wrong because it is simply discussing the demand for oil without taking into consideration that oil does not last forever and the field that Saudi has currently are growing old. After reconsideration, the EIA retracted their statement and lessened the amount. The author quotes Sadad al-Husseini on the topic of peak oil from his interview, “That’s not how you would manage a national, let alone an international economy. […] You draw some assumptions and then say, Okay based on these assumptions, let’s go forward and consume like hell and burn like hell.” (25). Husseini is the former Vice President of Saudi Aramco, the Saudi Arabian oil company. When Maass asks if Husseini believes the Saudi, or even the world, will ever be capable of achieving the current and projected needs for oil, he simply states, No. Saudi Arabia is just an example of the many countries with, once full, oil fields that are now facing a scarcity amount incapable of energizing the planet. And are surveying new sources for energy to profit form.

According to current estimates, more than 80% of the world's proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to around 66% of the OPEC total (OPEC Share of World Crude Oil Reserves, 2014). Competition amongst the U.S. and the Middle East has never reached this level before. There is a constant tension between the two countries and refuse to collaborate in dividing the market share equally. Furthermore, as both nations refuse any bipartisan agreement, there is no limiting the production of oil. Each nation is looking to drive out competition by any means. What they don’t realize is if they cooperated and reached an agreement amongst the international community, oil will remain profitable just as it was a few years ago. Though, this is unlikely to happen any time soon, but will eventually cause Saudi Arabia and other Middle Eastern countries to take a drastic decision when their main source of capital plummets due to the current price of oil. Profits are no longer seen in the oil industry. The Price of oil has been selling at around $50-$60 per barrel, not enough to cover production cost. The United States is able to withstand any contraction within the oil sector, as their financial portfolio is diversified, not solely reliant on the price of

Oil-The article”OPEC #1”explains the oil prices.The Oil of the Middle East is the price of oil has fallen by nearly half in just six months.Anyone who buys oil or gas is happy because the prices are low.Car and truck drivers, airlines, and shipping companies are all happy because they don't have to spend as much money on gas. Oil companies are not very happy. They are losing money.A barrel of oil now costs $58 and last summer it was $107.Oil prices have gone down and people are happy,at least some of

While the first article I concern myself with predicts an increase in gas prices, the second article confirms an increase in the price of oil. From the onset, the first article, titled Increased Gas Prices? Don't Blame Unrest in Egypt, points out to readers that they could soon find themselves digging deeper into their pockets for a gallon of gas. However, even though it acknowledges that the unrest in Egypt could be to blame for the increase in gas price, it warns against apportioning all the blame to the said unrest. The second article, titled Market Watch: Oil Prices Rise on US Economic Outlook, confirms an increase in the price of oil most particularly in the London and New York markets.