Analysis of Changes in United States Crude Oil Prices

For this research, however, the major competitors are regarded to be domestic producers, which includes all crude oil production that happens inside United States, and foreign producers, which includes all crude oil imported into the United States, regardless from the house nation from the organization responsible for the extraction in the crude oil in the geological crude oil reserves.

A wide quantity of reasons have the capacity to affect the cost of crude oil sold from the United States. For purposes of this research, four of these several causes had been a number of for use as independent variables within the analysis of crude oil prices inside the United States. These reasons are as follows:

The proportion of electricity generated during the United States from your burning of petroleum may be the first factor. The united states uses a lot more electricity per capita than any other country during the world. The greater the reliance over a burning of petroleum to create electricity, the greater the demand for petroleum can be expected to be, and, within the absence of supply increases, the greater the pressure on crude petroleum costs can be expected to be.

 

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