anoint and gas industries play important role in global world providing heat, light, mobility and the fuel to human environment. In flat days there is no other substitute to vegetable anele colour and gas for postcode production and this is why the possession of energy is a major issue in the politics of all dry land. The energy market are continually expanding, and many companies pass off huge amount of money to maintain and increase their oil and gas production. The oil and gas market was created on colony between exporting nations who are maximizing their revenues and improve their flip-flop balances, and importing nations who wants to minimize trade deficits and ensure reliable oil supply. The countries exporting large quantities of oil and gas has became as a major power for global economic growth. The purpose of this assigning is to analyze dependency on one major resource.
Oil
The largest quantities of oil is produced everyday in Saudi Arabia (10.3 naut knotion place per day), Russia (9.91mil barrel/d), united States (8.85 mil cask/d), China (4.26 mil bbl/d), Iran (4.2 mil bbl/d), Canada (3.7 mil bbl/d), Mexico (2.88 mil bbl/d), UAE (2.81mil bbl/d), Brazil (2.75 mil bbl/d), Nigeria (2.51mil bbl/d), Kuweit (2.5 mil bbl/d), Iraq (2.
39 mil bbl/d), Venezuela (2.35 mil bbl/d), Algeria (2.16 mil bbl/d) and Norway (2.14 mil bbl/d). The Saudi Arabia is reign country in oil industry. As a words draw of export and oil production, Saudi Arabia has the power to manipulated its production in order to minimize the difference between the target equipment casualty and the market price. However, raising prices by Saudi Arabia will fix many other competitors to enter the market and put that country on risk of losing future dominance. The high oil prices could touch on economically a lot of importers like for example United States where citizens are not used to higher gas prices. the States even with own rich resources is still the worlds largest oil importer...If you want to get a full essay, order it on our website: Orderessay
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