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An investigation into oil prices
Member rating: No Rating | Words: | Submitted: Fri Sep 24 2004
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Max Pobol Mr Landor Economics 20 Sep. 04 An investigation into oil prices Oil is one of the most traded commodities in the world, which is why changes in prices will affect the economy on a global scale and will influence us as individuals and our personal finances. If we were to look at any business in the world it becomes clear that without oil (fuel, gas e.t.c) the business would not function and we begin to see the true importance of it. Many countries would just not even be today if it were not for the discovery of oil, for example Saudi Arabia, a country in which the state of the economy is 99% governed by the export of their crude oil. In 1999 people in the UK went on strike because the price of oil trebled to 30$ a barrel, which managed to sway the British economy for that period. Today the price...
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