The oil industry is a globally influential process. It includes the exploration, extraction, refining, and marketing of petroleum products. These are broken down into three sectors upstream, midstream, and downstream. The Oil industry is vital for both the US and Saudi Arabia and their economies. The United States being a major importer, in 2015, the US imported 9.4 million barrels of petroleum a day, one barrel equals 42 U.S. gallons. (EIA 2015) Saudi Arabia being 2nd highest import to the US, and Canada being number 1. The US Exported 4.7 million barrels a day.(EIA 2015) Saudi Arabia, on the other hand, one of the world 's largest oil exporters, producing 9.9 million barrels of petroleum a day, as of 2011, (IEA 2011) exported 7,571,000 bp/d, (POB) 17% of the crude petroleum going to the United States. (OEC 2011) the biggest oil company for the US, based on revenue of 2015, Exxonmobil with 268.9 billion USD, and Saudi Arabia’s Saudi Aramco which was on top of the world leaderboard with 478 billion USD (Forbes 2012). The oil companies can range in types, Integrated having both upstream and downstream ops like the top businesses of the countries. Independant companies have either upstream or downstream but not both. Oil service companies which provide products and/or services to the oil companies, and then the oil equipment manufacturers providing the equipment for the oil companies (PSAC 2016). In Saudi Arabia, the oil supplies have gone through what is known as
Kristoff uses many rhetorical devices to make points in his piece, “Our Blind Spot About Guns”. He compares the safety of guns to cars and tries to make a point that we should regulate them in the same way. One rhetorical device Kristoff used is visual persuasion. By showing a picture of a sign stating that guns were prohibited in Dodge City, a symbol of the Wild West, he used this visual to show the reader that gun prohibition has already been established throughout history. Visual persuasion is often used to convince the reader that the statements that are being forth are superior to the opposing side. It shows visual proof and is intended to make a point and persuade the reader to agree with the statement. Another rhetorical device that was used in the piece was a paradox. The author used this device when he said, “It’s pointless because even if you regulate cars, then people will just run each other down with bicycles,” (“Our Blind Spot About Guns” pg. 161) This statement is
The Standard Oil Company of California(Socal) is trying to determine how much to bid on the Gulf Oil Corporation. George Keller, the CEO of Socal, would need to borrow 14 billion dollars in order to make a substantial bid. While banks are willing to lend the money because of Socal's low to debt ratio, the loan would put the company in a highly leveraged position. In order to alleviate that debt, some of Gulf's assets could be sold. Keller has to consider the value of Gulf's exploration and development program when calculating future returns. Two billion dollars were being spent on the exploration and development program. This money could instead be used to reduce the debt if Socal acquired the company. However, the exploration program
Until 1973, Saudi Arabia barely participated in international trade, however, during the oil crisis, Saudi Arabia’s economy grew rapidly because of their huge oil reserves (second largest in the world), and their ability to produce far more barrels than any other country. Saudi Arabia is the largest producer and exporter of oil in the world, and produce over 11.5 million barrels a day, over 7.5 million barrels a day more than Canada, at far less of a cost. Canada and Saudi Arabia are allies and benefit from each other. Canada and Saudi Arabia’s trade totals more than $3 Billion, and their market is so big because of Canada’s sanctions on Iran, another oil superpower. Saudi Arabia is Canada’s biggest trading partner in the Middle East. Saudi
This paper will describe the problem that Pacific Oil Company faced as it reopened negotiations with Reliant Chemical Company in early 1985. Secondly I will identify and evaluate the styles and effectiveness of Messrs, Fonatine, Guadin, Hauptmann, and Zinnser as negotiations in this case. Finally I will outline what Frank Kelsey recommend to Jean Fontaine at the end of the case? Why?
Inherit the Wind is a short play by Jerome Lawrence and Robert E. Lee that is based on the guide lines of evolution and religion. Cates is a man who is convicted of teaching his class about evolution which is not okay in his town. Cates is then taken into trial to prove if he is guilty or not guilty. When Cates is in court, many things are popping up. Hornbeck is Cates lawyer and is trying to get Cates to win the trail.
In the novel “To Kill a Mockingbird” Scout is and unreliable narrator because of her young age and mind that is influenced by numerous factors that make her question her core beliefs. For example, she often tells ghost stories of “Boo” Radley and gets into fights with other children at school, she even finds gum inside a tree and “[Her] first impulse was to get it as quickly into [her] mouth as possible” (Lee 44). She is a capricious narrator because she is influenced by her father’s beliefs but still resorts to violence when frustrated by a classmate. Although she is very literate, she still has the outlook of a child and can’t understand situations the same as an adult would. We as readers should listen to the way Scout communicates with others and the language she uses.
The Importance of Oil in U.S. Foreign Policy During the oil and energy crisis of the mid-1970s Americans became painfully aware of the consequences of the United States dependence on foreign sources of oil. Unfortunately, research and exploration for alternative sources of oil in North America has not been pursued vigorously enough to cease such foreign dependence. As a result, in the mid-1990s Americans find themselves in the same precarious position as they were during the 1970s. The Persian-Gulf War in 1991 was all the proof needed to convince the United States of how strongly oil still influences our foreign policy and international relations in general. Oil and U.S. Foreign Policy: Historical Issues The United
The oil industry can not be discussed without mentioning the name John D. Rockefeller. Rockefeller changed the business of oil distribution. In the 19th century Rockefeller began his humble beginnings with a small investment, along with two other partners, in the oil refining business. Eventually Rockefeller upset at the direction of the company bought out his partners. He was now buying into refining and developing kerosene and other petroleum-based products. He later named this company The Standard Oil Company which by 1872 nearly owned all the oil refineries in Cleveland. In 1882, Rockefeller took all his holdings and merged them into the Standard Oil Trust. Through smart business
crude oil allowed in at the bottom of the tower at a time so that the
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.
Saudi Aramco is ranked first amongst all oil companies worldwide in terms of crude oil production and exports, and NGL exports. In addition they are amongst the worlds leading producers of natural gas with 288.4 trillion standard cubic feet of gas reserves. The products that Aramco specialise in are petroleum, natural gas and other petrochemicals. “We rank first among oil companies world wide in terms of crude oil production and exports, and natural gas liquids (NGL) exports and are among the leading producers of natural gas” (http://www.aramco.com/en/home/about/at-a-glance.html)
The largest world supplier oil company is Saudi Aramco. It is the most profitable company on the earth. Since it is the most powerful oil company, it has a great impact on the world economy. As a result, a strong international relationship was built with the Kingdom of Saudi Arabia. In addition, the strong developing of international relationship with other industrial countries resulted in massive contributions to the politics, economy, and many different aspects. In 1933, Saudi government bestowed oil concession to California Arabian Standard Oil Company (Chevron). The main factor for this grant was to explore the oil in the eastern region of the Kingdom of Saudi Arabia. After discovering a huge amount of oil, part of the
Saudi Arabia has an economy that is largely dependent on oil, with the government maintaining the biggest control over the country 's significant economic activities. Saudi Arabia owns about 16% of the global oil reserves and is the number one exporter of oil (Saudi Arabia, 2013). In addition, the Kingdom of Saudi Arabia was instrumental in the formation of the OPEC (Organization of the Petroleum Exporting Countries) group, which initially comprised Iraq, Venezuela, Iran, Kuwait and Venezuela (Energy indicators, 2004). Currently, the petroleum industry constitutes about 80% of the country 's budgetary incomes; about 40% of the country 's GDP and 87% of Saudi 's export earnings. Agriculture, in addition to petroleum products, has been a major contributor to the kingdom’s economy since 1970s (Saudi Arabia, 2013). The country has been able to produce enough agricultural products for their consumption as well as surplus for exportation to the GCC member countries.
Currently Saudi Arabia is one of the leading producers of oil in the world. However, it is losing its foothold on the market. Many countries, like North America, are increasing their oil production and are looking for ways to become less dependent on foreign oil. The increased competition has caused oil prices to decrease. By producing their own oil, countries not only will increase their revenues, but will also reduce their need to rely on foreign oil. By reducing their need foreign an oil a country does not have to worry that their oil supply will be cut off if they go to war.
Peak oil is described as the point in time when the maximum rate of petroleum extraction is reached, and at this point we assist to a diminution of the resource. Oil is one of the world 's most vital resource, we use it in every aspect of our daily lives, we use it for electricity, gasoline and even drugs. The disappearance of this resource can lead to a major global disaster. In an attempt to identify the potential impact of such a disaster and find alternatives energetic resources, a cloud of researchers started to focus their research around this topic. While the first researches made on peak oil where mostly focused on its plausibility, nowadays researches concentrate on determining the exact period of occurrence, as well as the economic and political impact of this event.