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| The supply and demand of oil is expected to continue growing due to the fast rate of industrialisation, improved technology to discover new reserves, and increasing world population worldwide. With much of Europe in recession and the United States of America oil production rising, the supply of oil is expected to increase. However much new inventions of alternative energy sources are cropping up like biodiesels, the Athabasca Oil Sands, and solar energy, the demand for oil will still rise. Like any other non- renewable resource, nations are expected to use the oil sparingly such that it creates a lasting value on society and also protect the environment from its negative impacts. | | The supply and demand of oil is expected to continue growing due to the fast rate of industrialisation, improved technology to discover new reserves, and increasing world population worldwide. With much of Europe in recession and the United States of America oil production rising, the supply of oil is expected to increase. However much new inventions of alternative energy sources are cropping up like biodiesels, the Athabasca Oil Sands, and solar energy, the demand for oil will still rise. Like any other non- renewable resource, nations are expected to use the oil sparingly such that it creates a lasting value on society and also protect the environment from its negative impacts. |
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− | ==References== | + | ==See also== |
− | {{reflist}}
| + | * [[Economics]] |
| + | * [[Economics: fundamental equations for oil and gas property evaluation]] |
| + | * [[Economic geology]] |
| + | * [[Economics: key parameters]] |
| + | * [[Economics: time value of money]] |
| + | * [[Economics of property acquisitions]] |
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| ==Bibliography== | | ==Bibliography== |
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| * Cavalcanti, T. V. D., V., K. Mohaddes, and M. Raissi, 2012, Commodity Price Volatility and the Sources of Growth: IMF Working Paper WP/12/12 | | * Cavalcanti, T. V. D., V., K. Mohaddes, and M. Raissi, 2012, Commodity Price Volatility and the Sources of Growth: IMF Working Paper WP/12/12 |
| * Kilian, L., 2009, Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market, The American Economic Review, vol. 99, pp. 1053–1069. | | * Kilian, L., 2009, Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market, The American Economic Review, vol. 99, pp. 1053–1069. |
| + | |
| + | ==References== |
| + | {{reflist}} |