Monday, December 30, 2019

Ambition s Influence Of William Shakespeare s Macbeth

Sydney DeBerry Motlow English 2230 Mrs. Lockhart 20 April 2015 Ambition’s Influence in Macbeth Ambition is a desire for an achievement or distinction of sorts, for it could be a drive to obtain power, honor, fame, or wealth. William Shakespeare features ambition as a leading theme in several of his works of Renaissance Drama. Renaissance theater was known for scarce scenery but elaborate costuming, with Shakespeare’s Globe Theater in the spotlight. The Globe, the most popular public theater in its time, served as the first stage for many Shakespeare plays (Beers 428-31). Considered to be one of the greatest dramatists of all time, Shakespeare is a world-renowned British writer, and on a lesser scale he is known for his acting career. Shakespeare is known for his writing of plays, tragedies, comedies, and histories, and sonnets (Beers 433). One of Shakespeare’s greatest works, Macbeth, stars numerous characters with ambition. Macbeth tells the tale of the Scottish warrior Macbeth and his dramatic rise up the social ladder and rapid descent mentally; there is murder, treachery, and insanity lie in the heart of the play’s plot. Additionally, Macbeth has three, strange witches that stir up supernatural trouble for the play’s leading characters, mainly Macbeth (Shakespeare). Macbeth, like most other Renaissance tragedies, features real people; yet, the real Macbeth had a legitimate claim to royalty. King James even claimed he was one of the kings that directly descended fromShow MoreRelatedMacbeth Themes899 Words   |  4 Pages â€Å"What are the major themes in Macbeth† By Connor Maguire William Shakespeare’s Macbeth a play complete with many themes and viewpoints. The themes are exhibited by the main characters of the play, notably antagonist Macbeth. Themes seen in the play include ambition, where is is portrayed as both dangerous and unnatural. However, it does exist in both good and evil forms in the play. Another theme seen is whether Macbeths actions in the play are a result of fate, or free will. Although outsideRead MoreThe Tragic Hero Of Macbeth By William Shakespeare1724 Words   |  7 Pages His definition of tragedy applies to William Shakespeare s play Macbeth. The play is about a hero who reaches a high position in the play and then falls because of his choices. Macbeth is a tragic hero according to Aristotle s aspects that make a tragedy. Macbeth is neither a villain nor a perfect character, he appears in the play in a high stature, he starts to make multiple mistakes and due to his actions, he causes his downfall. First of all, Macbeth is neither a villain nor a perfect heroRead More The Cause of Macbeths Destruction in William Shakespeares Macbeth1062 Words   |  5 PagesDestruction in William Shakespeares Macbeth      Ã‚   In William Shakespeares Macbeth, Macbeth was a well-respected man of noble birth, but his fortune was reversed after he turned to darkness. He plummeted endlessly into a chasm of evil until his corrupt life was ended on the edge of Macduffs blade. Whose actions opened up the path of darkness to Macbeth? Whose actions led to Macbeths demise? The answer is threefold. The weird sisters set Macbeths fate into motion. Lady Macbeth goaded herRead MoreWilliam Shakespeare Was Quite Shakexperienced At Creating1042 Words   |  5 PagesWilliam Shakespeare was quite Shakexperienced at creating english words that would last from 1600 all the way to 2017. In fact, he invented more that 1,700 words that many people use on a regular basis. Without some of the words that Shakespeare invented, life would kinda suck. Every day would be a struggle. You know when there is a word, and all of the synonyms come to mind, but never the word that you want? Deep down, you know the synonyms will suffice but those words aren t...The word. It bothersRead MoreEssay on Macbeth1007 Words   |  5 Pagesplay Macbeth by William Shakespeare, we discover that Macbeth is a tragic hero. There are many factors, which contribute to the degeneration of Macbeth. Macbeth is very ambitious and courageous, and is later portrayed as a moral coward. All of these qualities lead to his tragic death at the end of the play. There are three major points, which contribute greatly to Macbeths degeneration. The first was the prophecies, which were told to him by the witches. The second factor was when Lady Macbeth influencedRead MoreAmbition and Death - the Story of the Renaissance in Macbeth1189 Words   |  5 PagesAmbition and death - the story of the Renaissance in Macbeth In the tragic drama Macbeth, written by William Shakespeare in 1606 during the English Renaissance, the hero, Macbeth, constantly declines in his level of morality until his death at the end of the play. Because of his change of character from good to evil, Macbeth s attitude towards other characters, specifically Duncan, Banquo, Lady Macbeth, and the witches, is significantly affected. In a larger sense, the theme of bad versus goodRead MoreWilliam Shakespeare s Macbeth - The Five Tragedies1293 Words   |  6 PagesOne of the most astounding themes William Shakespeare incorporates in his widely prominent story of, Macbeth, is the utterly sheer shift in Macbeth s personality throughout the piece. It is commonly debated that the rapidly altering deposition of Macbeth had since served as the underlying facets and influences behind his ultimate collapse. However, Arthur Kirsch, Writer of â€Å"Macbeth’s Suicide,† insists that perhaps Macbeth did not develop a sense of ins anity, but he was murdering out of confidenceRead MoreMacbeth and Picture of Dorian Gray Essay1821 Words   |  6 Pagesnature. Hint of homosexuality Faustian Bargain – (decay of living standard) Cultural Values/Context: Values of humanity (fear of losing humanity/identity) Macbeth – Elizabethan Era Macbeth goes under manipulation by the witches, and is seen to swap his soul due to his pride and ambition, which eventually leads to his destruction. Quote: Macbeth says, The Prince of Cumberland! That is a step On which I must fall down, or else o erleap, For in my way it lies. Stars, hide your fires; Let not lightRead MoreWilliam Shakespeare s Macbeth, Othello, And King Lear1479 Words   |  6 PagesWilliam Shakespeare s Macbeth, was the last of four great tragedies, including Hamlet, Othello, and King Lear, written during the Elizabethan Era. Herbert Courson states the play as, â€Å" â€Å"a powerful even for the mature Shakespeare. [which]... demands that we share its experience intensely, that we fell the strength of Macbeth’s thirst for kingship, the force of Lady Macbeth’s persuasions, the anguish of Macbeth’s struggle before the murder, and the impact of nature’s retribution after the murder†Read MoreMacbeth, By William Shakespeare1203 Words   |  5 PagesMacbeth is a play based on King James I, it was written by William Shakespeare, however this play isn’t a king and queen fa iry tale, but it’s a play about greed and guilt, chaos and murder and three evil witches who use prophecies to influence Macbeth to do bad things, using flattery would instigate his inner ambition to become king, which in the end doesn’t lead to a very happy ending. Shakespeare’s, Macbeth, was written in the early Jacobean period. During those times, women had no power, they

Sunday, December 22, 2019

The Terrorist Attacks Of The United States - 2247 Words

Post to â€Å"9/11†-the terrorist attacks that took place on September 11, 2001- many Americans, officials such as the local Police Departments, Fire Fighters, the government and the President of the United States all shared one main priority and thought. That thought, concern and priority was to combat terrorism in the United States and avoid something this immense from happening ever again. Many others prior to 9/11 never thought the day would come in which they would witness such terrorist attacks to this country in which they felt they had security, liberty and justice. On September 11, 2001 the United States of America encountered a catastrophe, what would be known as a tragic terrorist attack leaving many Americans disturbed, raving,†¦show more content†¦One of the most controversial topics that arose from the after math of the 9/11 attacks was that many were in disbelief of how unprepared our intelligence was prior to it. In fact many people believe that if our intelligence system had a being more prepared then the 9/11 attacks perhaps could have being prevented or being handled in a more prà ©cised manner. The USA Patriot Act was implemented due to these poor intelligence sectors. The Patriot Act was signed by at the time President George W. Bush on October 26, 2001, surely after the 9/11 attacks. Due to the severity of the circumstances in which the country was facing, this act found its formal approval in a quick matter of time. The Patriot Act expands and alters historic restrictions with Information sharing, Roving wiretaps, Foreign intelligence and wiretaps, Sneak and peek warrants, and Material support. (Nemeth, 2013) The Department of Homeland Security is one of the agencies to benefit extremely from the USA Patriot Act. The Patriot Act breaks down barriers to share information that is needed and useful to help connect the dots and disrupt potential terror and criminal activity before they can carry out their plots. (Nemeth, 2013 ) This helps for our U.S. Customs and Border Protection be able to track down and apprehend international visitors who mightShow MoreRelatedThe Terrorist Attacks Of The United States1409 Words   |  6 PagesThe 2001 terrorist attack in the United States had negative social and economic effects in the country and generally stirred the peace of the citizens. Terrorism is a major threat to any sovereign country in the world including the United States where. There are other threats that influence the comfort and the interests of the residents of the United States in varying measures (Decker, 2001). The Department of Homeland Security is tasked with the protection of the people from any activity that influencesRead MoreTerrorist Attacks On The United States1453 Words   |  6 Pages 2001, alleged Al-Qaeda members attacked the United States of America with four passenger planes, Boeing 757s. Two planes flew into the North and South Towers of the World Trade Center in New York, one pla ne flew into the Pentagon, and the remaining plane was possibly targeting the White House but was unsuccessful. People all over America felt an utter shock and disbelief after this tragic event as people demanded answers. After the terrorist attacks, a portion of Americans started to believe inRead MoreThe Terrorist Attacks Of The United States Essay2060 Words   |  9 PagesIntroduction Living the United State when one thinks of a terrorist attacks often their mind will first go to a larger scale attack such as the events of September 11th 2001. â€Å"September 11, 2001 changed the United States forever, the terrorist attack that day marked a dramatic escalation in a trend toward more destructive terrorist attacks which began in the 1980s. It also reflected a trend toward more indiscriminate targeting among international terrorists. The vast majority of the more than 3Read MoreTerrorist Attacks on the United States1994 Words   |  8 Pagesâ€Å"The September 11 attacks changed many aspects of American life and governmental policies† (September 11 Terrorist Attacks on the United States). It all started on September 11, 2001 in New York. 9/11 made history with its tremendous destruction and deaths. Many people were killed in the collapse of the World Trade Center Towers, additionally those who jumped down from stories above and the hundreds who asphyxiated in the massive smoke that had spread from New York to Washington D.C.. Many AmericansRead MoreThe Terrorist Attacks Of The United States Essay2177 Words   |  9 PagesFailures Pre- 9/11 Before the terrorist attacks that occurred on September 11, 2001 in the United States, the CIA was very aware of Al Qaeda and other terrorist groups who’s aim was to target the United States. The CIA became aware of Al Qaeda when they were tracking Osama Bin Laden in 1991 for financing terrorist attacks. As previously discussed, the CIA followed Bin Laden to Afghanistan where they eventually declared war on him. In 1999 the CIA was aware of and defeated Bin Laden operativesRead MoreTerrorist Attacks On The United States1298 Words   |  6 Pagesaims. There have been numerous different terrorist attacks on the United States in all the years, but 9/11 is by far the worst. On September 11, 2001, around 8:45 a.m., something that will live in the memories of others forever. With around 3,000 fatalities and millions of people affected by this disaster it would be day that is never forgotten. A terrorist group, led by Osama Bin Laden, known as Al Qaeda teamed up with the Taliban to plan these awful attacks. Bin Laden was a millionaire’s son andRead MoreThe Terrorist Attacks Of The United States1968 Words   |  8 Pagesworst attacks the United States has ever experienced. Many factors made the terrorist attacks of September 11th a day that is permanently etched into the hearts and minds of Americans. Nineteen radicals linked to the Islamic terrorist group al-Qaeda gained control over four airplanes and carried out attacks against targets in the United States on 9/11. (History.com Authors) Their leader, Osama Bin Laden, and his followers viciously opposed the United States. In al-Qaeda’s opinion, the United StatesRead MoreTerrorist Attacks And Its Impact On The United States Of America Essay1295 Words   |  6 Pages11th 2001, a series of ‘terrorist attacks’ struck the main cities of the United States of America. This is more commonly known as 9/11, hence the 11th of September. The story of this incident is that these deadly attacks were performed by Al Qaeda extremists. This event has been recorded in the pages of history as a clear act of terrorism war and has impacted many people’s daily lives, even here in New Zealand. But was it really these extremists who attacked the United States of America, or was itRead MoreTerrorist Attacks On The United Sta tes Of Homeland Security2742 Words   |  11 PagesSeptember 21st, 2001 only eleven days after 911, a day that will go down in infamy because of the terrorist attacks on the twin towers, Pennsylvania Governor Tom Ridge was appointed as the first Director of the Office of Homeland Security. The nation fell to pieces after this horrible attack. Just shy of 3,000 people lost their lives, and thousands of families lost loved ones. Never before had the United States lived in such fear and uncertainty. Something needed to be done, and it had to happen quicklyRead MoreThe Security Administration ( Tsa ) / 11 Terrorist Attacks On The United States1802 Words   |  8 PagesOur society today has transformed in ways that our Founding Fathers would have never expected. Life changing events such as 9/11 terrorist attacks on the United States has set the tone in how our government responds to such horror. It has put the entire nation on an edge and citizens feel the insecurity of their gover nment and fear for their safety. Every individual was scrutinized, but some were looked at more closely than others due to their sex, race, and religious background. Government has

Saturday, December 14, 2019

International Portfolio Diversification World Oil Economy Free Essays

string(36) " terms of trade and other variable\." The prospect of innovating new technology is not only very economical but it also serves as an operational assistance to solve the forthcoming oil crises. With the help of this new technology, by 2015, we will be capable of earning about $10 billion annually. Under the current scenario, many people have predicted that the oil crises will prevail in the future. We will write a custom essay sample on International Portfolio Diversification: World Oil Economy or any similar topic only for you Order Now Daniel Yergin expressing his concern said that â€Å"people seem to have forgotten that oil prices like other commodities keep fluctuating and these can go up again†. Robert Dole pointed out, â€Å"in the future security of world’s oil and gas supplies will be a vital interest of the US and other Powers†. (Romm and Curtis, 1996) The consequences of the rising trade deficit on the security of our oil resources have also been underlined by Alan Greenspan; the Chairman of the Federal Reserve bureau. Department of the Energy Information Administration (EIA) states that the daily consumption of oil by 2010 will rise to 20 million barrels. The International Energy Agency debating increase in population, urbanization and industrialization commented that the world’s population specifically of Asia and Latin America will increase about 50% by 2020. (Romm and Curtis, 1996) It means more villagers will move to city resulting in increase in the consumption of energy and oil and the decrease in the cultivating area as oil the fundamental unit of urbanization. An analysis done by the national laboratories of the Energy Department shows that â€Å"the per capita energy consumption of china and India’s urban population can rise to 45% in the coming years†. Consequently, their daily consumption of oil will rise up to 119 million barrels. This is twice the global oil consumption today. (Romm and Curtis, 1996) Under the worldwide economic depression the global energy demand of oil is expected to rise high. According EIA, 80% of this demand will be fulfilled by the Persian Gulf. It means that within 10-15 years the export market share of Gulf countries will increase up to 67% of its current share. Moreover, EIA predicts with this increase in the demand of oil by 2010, the oil prices will rise up to $24 a barrel; causing a 75% increase in the export market. Besides, other countries have initiated a 15% and 10% increase in their oil production and in their proven reserves respectively. Unfortunately their reserves durability has fallen to 18-17 years. Unlike these countries OPEC’s attempt to raise its production and proven reserves to 20% and 75% will raise its productivity for ninety years. On the whole is seems that the economy and security of the United State is in the hand of OPEC countries, due to its increased dependence on oil. (Romm and Curtis, 1996) In the coming decade, the US is expected to import about 60% of its oil, of which one third will be imported from Persian Gulf this will raise its trade deficit in oil to $100 billion yearly. This is a great and persistent setback to its economy. In past decades the oil import has increased vulnerability to raised oil price increase. This is always fallowed by economic recession. Hence, by 2010 the oil revenue of the Persian Gulf nations is likely to increase to $250 billion from its current price of $90 billion annually. it means that the wealth of Persian Gulf will raise to $1. 5 billion in the next decade. This scenario is of great concern as it will bring heavy weaponry, influence and mischief in the troubled region of gulf. This may Increase military and technical expertise for Russia. (Romm and Curtis, 1996) Noticeably, in the future economic recession the competitors of US will be the Asian countries with their growing consumption of oil rather than the NATO countries. Whose measures to consume limited oil are of are helpful to US in the current a future scenarios. (Romm and Curtis, 1996) Presently, â€Å"International Departments of Energy (IDE)† are trying to explore and extract oil from countries other than Gulf e. . certain reserves of oil have been explored form Soviet Union. Hence, to facilitate these stances Department of Energy (DOE) is encouraging the privatization of many oil companies; particularly, those situated in Mexico and Latin America. In fact DOE is spending $10 million annually to develop advance oil field technologies. This will be helpful to reduce the cost of finding and extracting oil. EIA believes that US import of crude oil will reach to 10 million barrels within 15 years; even after maintaining a decline in the domestic oil usage. (Romm and Curtis, 1996) To reduce oil consumptions DOE has invested ten of million of dollars in automobile sector for The development of less fuel consuming cars and trucks with internal combustion engine, electricity run cars, boifuel consuming cars, super efficient hybrid vehicle, and devices with energy storage capacity like batteries etc. it is also investing to use the wastes of crops instead of natural gas. Most experts believe that the long term replacement of oil is only the fuel cells technology. Even if oil prices decreased, DOE’s attempt to produce alternatives will be helpful in many ways. These initiatives will create jobs and will save the money otherwise invested to import foreign oil. It will help in environment protection as on using these technologies less fuel will be consumed. (Joseph J. Romm and Charles B. Curtis, 1996) David and Crucini were conducted to analysis the variability among trade and Sudden movements of oil prices. For this reason we studied the correction terms of trade and other variable. You read "International Portfolio Diversification: World Oil Economy" in category "Papers" Three oil producing countries – two industrial and on non industrial- were taken as sample. And a correlation was conducted among these industrial and non industrial oil producers. The results of the study explain the changes in oil production tends to affect the industrial productivity and ultimately to the trade. If production increases trade will also increase and with the decline of production trade will also decrease. (Backus, Crucini, 2000) This also assists in finding the â€Å"correlation between the terms of trade and output generated†. The results show that there is a positive correlation between the trade terms and the increase in productivity. Increase in trade is directly proportional to the increase in productivity; if trade increase productivity will also increase. Besides, there is a negative correlation between the terms of trade and oil price hike. Trade decreases with the increase in oil prices and increase with the increase in oil prices. (Backus, Crucini, 2000) The mechanism explained above also affects the trade and productivity of the items produced in the country. If there is an increase in the products domestically produces and traded, there prices will decrease. But if there is a decline in the production and trade of these products, an increase in their prices will be viewed. Therefore, If the oil supply is disrupted it will reduce the productivity and trade ability of an industrialized country. It is due to the fact that most of non oil producer industrialized countries import oil for use in their industries. So if there is a shortage of oil it will cause decrease in the products produced by the industry. In other words one can say that the oil prices are inversely related to the trade and productivity of a country. Therefore if there is an increase in the prices of oil it will badly affect the economy thus causing economic recession. (Backus Crucini, 2000) The behavior of international oil prices in the postwar economy can be understood through the economic recession of 1970’s and 1980’s. When countries have to experience sudden increase and decrease in the oil prices. Moreover, between 1973-1986 oil prices underwent a noticeable changes in different directions: output vitality increased in UK, US Italy and France. However a noticeable decrease in the output was observed in Germany and Japan. Similarly an increase in the consumption of oil was perceived in Italy, Japan, United Kingdom and United States while declined in consumption of oil was by Germany and Japan.. Notwithstanding, this increase in the trade of five countries, the correlation of the exports was negative. The results showed that the trade prices are short lived and synchronized by the changes in the relative oil prices. (Backus Crucini, 2000) the non-oil producer countries have large share of fuel in trade for example the Japan’s share in the fuel trade market was 22. 2%. However after first economic recession and oil price shock in the mid 1970’s a change in fuel share was viewed: France, Germany, Italy and Japan all faced double deficit in their fuel trade. The cause of some of this reversal of trade deficit was the either collapse of oil prices in mid-1980’s or energy conservation. However positive changes were viewed in the fuel share of Australia and Canada while US emerged as a net exporter of fuel through North Sea oil production. On the whole it was proved that oil prices have a cyclical influence upon the terms of trade. Backus Crucini, 2000) Moreover term of trade of the smaller countries is more volatile as compared larger countries. Sudden increase in the prices of oil reduces the productivity and trade, simultaneously. On the whole this study suggests that there is an unstable relationship between relative price and quantities. Especially when increase in oil prices act differently over time. Hence the terms of, output, and the trade balance can be maintained and kept stagnant by controlling the source of oil price shocks. (Backus Crucini, 2000) A crude oil reservoir contains crude oil extracted using primary, secondary, improved, enhanced, or tertiary method. Created liquids and those extracted from mined deposit are not crude oil. There is no doubt that crude oil reservoirs are in vast quantity yet the fact remains that they are finite. In fact most of these reservoirs are almost fully explored or are being explored. Petroleum production has been culminated with the increase in the demand. Currently demand for the crude oil in the developing countries like China, India, South America has risen up to 2%. (Wood et al, 2000) These countries face increase in the growth of crude oil demand due to increased consumer demand. Crude oil is mostly consumed for transportation and in internal combustion engines. Neither developing country other than China and India demanded high crude oil either due to political or economic reasons. However many economists and industry professionals predicted that over past two decades world crude oil production will increase with increasing frequency. And this increase will cause noticeable impacts on the world oil prices, lifestyle of people, US economy etc. Wood et al, 2000) In April 200, the United States Geological Survey (USGS) marketed the results of their most detailed and modern study. This 5year study was conducted by the geoscientists to compute and analyze the resources of crude oil and natural gas in the world. Basically this study was conducted by USGS â€Å"to provide impartial, scientifically based, societal relevant petroleum resource information essential to th e economic and strategic security of the United States. † The results of this study were used by EIA to analyze world oil supply in the long run. Hence, we can say that the EIA’s analysis is based on historical and geographically derived facts rather than mere assumptions and estimations. (Wood et al, 2000) if the resource base is large it will reach peak of its production at a later stage as compared to a smaller one. Moreover, if following the USGS analysis crude oil continue to produce at 2% Growth rate than and if the production starts declining than till 2037 the production of the world’s crude oil will raise up to 53. 2 billion barrel annually. However, depending upon the demand it is also likely that by 2112 and 2021 the production of the crude oil may rise to 24. 6 and 48. 5 billion barrel (Wood, Long, Morehouse, 2000) the growing demand of the crude oil can only be reduced trough the invention of new technology e. g. hybrid powered automobiles and substitution of the source of energy e. g. Hydrogen- fed cell. The increase in unconventional sources of production (tar sands and very heavy oil) also depends upon the rate of technological advancement. This type of production is very economic and successfully working in Canada. However from this study we estimate that oil will peak in the middle of 21st century which means new energy doesn’t have the large time required to penetrate the market. Therefore these results does not justify both the supply and demand of the research (Woo et al, 2000) Since World War II about US recessions were fallowed by sudden increase in oil prices. Although, it doesn’t make any difference, in analyzing the outcome of oil price shock, economic decisions are more concerned with real oil prices rather than nominal oil prices. However most of the oil shocks are based upon the nominal prices as their magnitude is larger than the overall. Initially the nominal prices stay stagnant and change over time. The difference and nominal is that the former are the outcome of the change in internal economic inflation and have external statistical representation. There form many researchers use nominal oil prices as an explanatory variable to explain oil price economy. (Hamilton, 2005) In an economy dollar have a fairly small share i. e. in 2000 US consumed about 7. billion barrels of oil purchased at a price of $30 a barrel. This shows that dollar share is 2. 2% of the $9. 8 trillion GDP of US. However the nominal GDP of US has risen to 3. 8% in the past few years, after the production and supply disruptions caused by five oil price shocks and economic recessions. (Hamilton, 2005) The decrease in the quantity of oil supplied is actually synchronized by the sudden increase in the fuel prices. The oil shocks contributio n of economic downturns should be attributed with changes caused by other factors and capitalization rate. Theoretically, Increase oil prices will cause a decrease in capital and labor allocation. However, in reality an oil price cause increase in the output (allocating of labor and capital). (Hamilton, 2005) The economic regression of 1949-80 predicted a slow GDP growth of about 2. 9% annually after an oil price hike of 10%. However, 1949-2005 regression predicted only 0. 7% slow GDP growth. This is resulted through the use of less fuel efficient cars. Noticeably net oil prices have shown an increase in the crude oil prices to about 20%. In 2004 oil prices showed an 18% increase while world production showed an increase of 21%. Similarly 2005 viewed 0. 2% increase in production and 21% increase in oil prices. These figures show that increased demand of oil contributed to the Increase of oil prices during the last years. (Hamilton, 2005) The recession from the oil prices increase suggests that there is some kind of relation between oil prices and productivity. The oil price shock is governed by factor share argument and affects the economy through the disruption caused by consumer and firm’s investment on other goods. Oil prices also affect the inflation rate governed by monetary policy on long term basis. (Hamilton, 2005) Today, we are so heavily dependent on oil that 90% of our transport, 95% of all good and food products requires oil. In short, today the world is consuming 80 million oil daily and 29 billion barrels of oil yearly. Unfortunately these figures of oil consumption are rapidly rising. According to the US government assumption by 2025 this demand of oil will increase to about 120 million barrel daily and 43 billion barrels yearly. (Leggett, 2006) America only consumes quarter of global current demand for oil. This is due to the decrease in domestic oil production and increase in demand during last 35 years. These figures show that America’s share of oil import will increase over time. Today, of the 20 million barrels consumed by America about 15 million are imported from the Middle East. The US can cut its import of 5 million barrel by increasing the fuel consumption capacity to miles per gallon of its automobile but instead it has allowed General Motors to build automobiles. Similarly, the US has increased the Share of Spots Utility vehicles to 24 % by 24%. (Jones et al, 2004) Consequently due to these lavish expenditure US vehicles fuel consumption ability reduce to 2. 44 mile per gallon in 2001 as compared to other countries whose cars have the capacity of moving 60 miles per gallon. (Jeremy Leggett, 2006)On the whole the fact remains that oil is finite thing. Different people have different views in this regard some think that only about 2 trillion barrels of oil is left to be used and discovered while other think that this amount is at most 1 trillion. The former suggests that oil production will expectedly end till 2030 which means there is enough time to go for alternatives. They also believe that 1. Saudi Arabia have achieved its peak of pumping and couldn’t serve as an alternative during recession 2. the giant oil field have all been exploited and none is left behind however in later case it seems the recession time will come soon and there is less time to innovate is a factor with help of which oil price shock can change macroeconomics. Reallocation of labor after the recession period is really helpful to reduce the effects of oil price shocks. Under a long lasting oil price rice reduces the energy usage, capital and labor supply which causes a reduction in the investment sector and capital stock market decline as well. Janis suggested that under increased oil prices wages are â€Å"potentially significant† even with low oil price and productivity. (Jones et al, 2004) Therefore, it seems that reallocation of capital and revision of investment plans is necessary to oil price shock effects on the macroeconomics. Oil price shock has a double effect on the destruction and creation of jobs in all sectors. In the case of positive oil price shocks sector responds ten times positively than in the negative shock situations. Increase in petroleum products cause an increase in the wages of skilled workers but 3%- 4% decrease in real wages of workers. In other wards one can say that oil price increases have a negative impact in the short run but in long run it has a positive. With the increase in oil prices unemployment also. (Jones et al, 2004) Interest rates have strongly asymmetric response towards positive and negative oil price shock in short run and a moderately asymmetric response to long run. It means that the oil price works primarily through GDP mechanism and affect the interest rates with its fluctuating prices. Hence, if the prices of petroleum increase the crude oil prices will also increases but if the prices petroleum decreases the price of the crude oil will also decrease. Jones, Leiby, and Paik suggested that â€Å"In case of crude oil relation with GDP asymmetry is the speed of response to the price in price GDP case asymmetry is the magnitude of the price hike†. Some experts say that the oil price of the 1970s was the real cause of the economic recession. Both energy prices other words it can also be said that the oil price shocks primarily through employment, GDP and interest rate. (Jones et al, 2004) There is a little doubt about the impact of the monetary policy’s response to the hike in the oil price. However, DOE did reached a conclusion that during 197-1990 episodes of recession that some of the GDP reduction was caused by a deficiency in the monetary policy and was outcome of oil price hike. This means that an alternative monetary policy could have averted recession of 1970s. One can say that during economic recessions oil prices indirectly act on the GDP through the monetary policy. The prices shock in the OPEC is actually the result of depressed growth but due to the increased demand of the oil. (Jones et al, 2004) After 1980s recession OPEC its ability to keep the prices of oil stable this type of change may be cause due to Oil prices never affected GDP. It was viewed to be so due to the lack of lengthy data to be studied. Since the World War II the pricing of world oil market was not as linear and simple as was observed. So when the flexibility in observing thing emerged the observers began to understand the price signal. (Jones et al, 2004) The changes in the stock market, which are caused by increase in economic activity is crucial for economic activity. Both present and future impacts of oil prices on the stock price are notice worthy and helpful to determine the future scenarios. The relationship between the stock market and the oil prices is reflected through the effects of stock market on cash flows. In other wards the cash flow of oil prices have a positive or negative impact on the stock market. 0% of the oil price shocks are responsible for the ups and downs in the business circle while only 16% is responsible for the fluctuations in the U. S. (Jones et al, 2004) The above discussion proves that during an economic recession GDP-oil relationship is mostly observed. This relationship can not be either avoided by the alternative monetary. Mover over after World War II the oil prices have been p roved to be non reliable and constantly fluctuating factors. Empirical research also shows that reallocation of 11% manufacturing labor occur after oil price hike. Hence, it seems that from a macroeconomic perspective all the price movements are different. It is necessary to develop policies helpful to deal with the oil price shocks. (Jones et al, 2004) To forecast oil supply a low cost approach can be helpful. It will help to determine the nature of the bias and recurring errors. This type of approach is necessary to explain the difficulties involved in making petroleum supply forecasting at a macroeconomic level. (Lynch, 2002) Forecasting of oil prices is in practice since late 1970s e. g. Lynch predicted that the by 2000 Gulf’s boom in oil production will decline to $13-18. per barrel. But this forecast was base upon the economic recession of 1970. Despite being shifting from the hands of one company to the other, oil prices have remained constant to $14 per barrel throughout its history. But this stability of the prices changed in 1970s, when it had to face price hikes due to disruptions caused by supply and demand. (Lynch, 2002) The OPEC decision to introduce a long term price raisin path supported the expectations of having a 2-4% price growth. This step was so mush supported that for many years’ people demanded these types of initiations. For a long time there is form cast that oil prices will remain flat. However, it seems that the price hike of 2000 will alter it. Since 1980s the researches related to oil production and supply has become pessimistic which a common approach before 1979; when most of the studies focused upon scarcity of recourse, and need for new discoveries outside the Middle East. The production of world crude oil has changed over time. In a study conducted for non-OPEC forecasts that that most of the errors and bias faces were same leading to the peak in production. Lynch, 2002) The development of a new technology for the extraction of oil does have many positive consequences, who really demand appreciation. Today with the help of technology many discovered but unutilized oil reserves have been drilled and are being marketed. For instance, oil reserves of North Sea were abandon due lack of heavy expenses in 1970s. Today these reserves have been discovered with the help of technology at a very low c ost. According to a study 1998 with the use of modern technology the oil reserves of US rose to about 24000 tones. This means that with the help of modern technology US underwent a remarkably 16% increase in its reserve. (Lynch, 2002) Notwithstanding this increase it is also true that these reserves are finite and will tend to decrease over time. Lynch conducted a study in this field and found that the production oil reserve will undergo a 10-20% decrease annually since its drilling and extracting starts. Even between Gulf countries the productivity level is different and depends upon the location. For instance, Drilling in Saudi Arabia will bring more revenues as compared to drilling in Oman. However, it is also a fact that most of the countries try to hide the actual situation and capacity of their oil reserves e. g. according to the report of Canadian oil experts the oil reserves of Canada remained same during 1999 and 2000. (Lynch, 2002) Many countries are reluctant to import oil in heavy quantity due to heavy tax rates. As most of the oil producing countries demand high taxes on the export of their products. In such cases producing countries raise the prices which then seriously affect the global economy. However, since the formation of OPEC oil prices are continuously regulated and controlled. (Lynch, 2002) The world oil production is regulated under Saudi Arabia and OPEC members since 1970s. After the oil shocks of 173 the new sources of oil supply have been discovered: Mexico, North Sea, China, Alaska, etc. Besides, Russia is the third largest producer and the second largest exporter of oil. Today, OPEC has a 40% share of the world oil supply which is sufficient to exert power in marinating and fluctuating world oil prices. The oil usage of US has been decreased since1980s economic recession. In 2000, after sudden 16% increase of oil prices US oil production declined to 12% As a result of these different trends in consumption. This means now the US more rely on imports than before. However, the US exports the domestically produced oil at the globally set prices. After the terrorist attacks in US oil prices were reduces bringing great setbacks to the world economy. This happened because of the ban imposed on air travel. (Perry, 2001) The Middle East does not seem to be affected by terrorists, yet its geographical locality and vulnerability to the terrorists can not be ignored. Currently both increase and decrease in the oil prices is viewed. (Perry, 2001) The recent oil forecasts claim that next economic recession will be caused by terrorist attacks and the prospect of authorizing limited airlines theses acts are likely to reduce the world oil demand which will ultimately lead to global recession. The OPEC could avoid this recession by introducing production and. Saudi Arabia has initiated by applying a production and price cut to its oil reserves: its oil price has reduced to $4 a barrel in October 2001 immediately after terrorist attack on the US. The oil prices decline of 1980s and 1990s will be very much helpful in the current situation: by assisting airline industry, slowing down the inflation rates, and will assist inpursuing expansionary monetary policy. (Perry, 2001) The two recessions fallowed by the world war were greatly associated with the disruptions in the oil: †¢ During the Arab-Israel war of 1974. Arab countries announces major cut in the production on oil and prohibited shipments to the supporters of Israel. The OPEC raised the crude oil price to $12 from $3. The 1975 economic recession faced both higher oil prices and depressed the oil demand. It was the time when OPEC had to cut production to maintain high oil prices. But this prospect negatively as with the fear of shortage of supplies certain precautions were adopted. (Perry, 2001) It was the time when US felt need and created the strategic petroleum reserve similar to those established in industrial countries. In addition, also applied buying constrain ts on consumer and imposed moderate price control measures on the domestic oil producers and refiners. (Perry, 2001) After the recessions of 1974-75 and the Iran-Iraq war of 1980 the high the OPEC prices shocked the world. OPEC raised its price to $30 a barrel exceeding to $35 a barrel. The imposition of greatly high taxes on petroleum products caused high inflation. Ultimately, it will increase the already rocketing food prices. This was the time when more intense monetary policy was in demand. During the 1979-1980 recession, the increase in production was needed to stabilize the market. Saudi Arabia was the first to raise it production up to 8. 6 million barrels a day in 1979 to 10. million barrel in 1980 and 1981. In 1983 and 1985 Saudi again acted and applied a production cut to 5. 0 million barrel and 3. 6 million barrel respectively. Though this worked but during the Arab war OPEC proves its ability to stabilize prizes by raising production to 5. 5 million per barrel, of which Saudi share was 3. 1 million. (Perry, 2001) Today, most of the economic forecasts suggest that the terrorist attacks if not controlled will lead to another economic recession. As terror is attacks will affect and reduce consumer and business spending. Today the major problem is not the rocketing oil prices but the security of oil reserves. Most of which are will the politically troubled and unstable region of the OAPEC and the OPEC. Today, the most important fear of all oil consuming country is to save the oil reserves from going in the hands of extremists. As bin Ladin has claimed to charge $144 a barrel after conquering the reserves of oil. (Perry, 2001) In the case of reducing the oil supply it will badly affect the economy of the US and the world. The good thing is that if new oil crises arise it will result in the demand for the reduction in foreign oil production. Notwithstanding, reality will never change that it is impossible to reduce dependence on foreign oil products. Today, the 40% of the US energy demand is fulfilled by the petroleum. The domestic oil reserves of the US have already diminished therefore it will definitely have to import foreign oil to fulfill its needs. Under the today’s scenario, the US consumption of oil will only partially change that also bringing a decline to its industrial economies. (Perry, 2001) The oil price crises emanates from the higher prices produced from the Middle East even if it is not involved in it. The individual nation producer cannot set their own prices they do have to fallow the prices set by the international market. Otherwise, the world will face great inefficiencies and it would become to fulfill the worldly oil need. Economy will be greatly exposed to the effects of the reduced oil. (Perry, 2001) Economizing oil prices are more helpful in the long run to changing capital stock and usage of less energy but in the short run there are scarcely efficient methods to reduce the effect of high prices it is for this reason that the demand of oil in the short run is more elastic. This means that 1% cut in the short run will cause 20% of the increase in prices. The magnitude of the impacts oil price rise in the short run depends upon the monetary policies and inflation. This shows that high prices will lead to high inflation and this will greatly affect the economy as the price of oil supply will be transferred to oil producers rather than oil suppliers. However, it is also clear that these years economy has seen less inflation as compared to the past. (Perry, 2001) How to cite International Portfolio Diversification: World Oil Economy, Papers

Friday, December 6, 2019

Methods of Paragraph Development free essay sample

Laptop meaning and function A laptop is a compact type of personal computer. It is made to be handy and accessible to use. It can be battery operated or can be plugged to the AC outlet. Most businessmen and professionals who are always mobile are using it for their work. Even students now have laptops for their studies. Although it Is compact, it is still equipped with proper speed to do fast computations, analysis, and graphics designing. As technology grows, laptops are becoming smaller yet still powerful. Topic: Losing a competition Whats wrong about losing a competition? This has been a question being asked by a loser during a competition. In our community, it is common that losers are the one being talked about rather than the winner. The mistake committed by the loser has been the laugh of many gossips. Whats bad of doing a mistake in the competition? People are not perfect. Similarly, they both enjoyed doing their favorite past time which is watching movies. However, in terms of career, they have different path. Kylie is an outgoing and athletic person. She is a tennis player and likes to do outdoor activities with her friends. In contrast, Kyle is a homebody. She prefers to stay home to study, to cook, and to read books. She sometimes hangs out with friends who are thrilled in doing research. ENUMERATION Topic: Enumerate what motivates Tourist to visit Takeaway. Recently, in completion for our tourism project, we went to Takeaway city to conduct a survey. The survey aims to know what motivates the tourist to visit Takeaway. After some surveys and interviews with the local government, local community, and local and foreign tourists, we are able to summarize the reasons of increasing tourism in the city. Most of the people visit the city cause of its cold climate. The cold breeze helps them relax and unwind from the stress of work. Secondly, visitors found the city very accessible and near Metro Manila. They can get there in 2 to 3 hours by private or public vehicles. Takeaway have many parks good for family gatherings and viewing the Tall Volcano. Other than that, there are many outdoor activities to experience like zeppelin, horseback riding, and tall trekking. Lastly, visitors come to learn and study the natural beauty brought about by the Tall eruptions in the past decades. DESCRIPTION Topic: My Dream House My dream house is an L shaped bungalow type. It is surrounded by flowers and has green grass in front. There is a pathway in the middle eight steps away from the main road. When you open the main door, the right side is the living room while the left side is the dining area. The living room has two sofas with a 32 inch flat television in front. The dining area has an elegant circular table with a chandelier on the ceiling for better lighting. In the middle of the house is pathway going to two rooms. The first one is the Masters bedroom. The next room is for the kids.The back of the house is a little winging pool with beautiful garden. Topic: Classifications of Music listen to am a music lover. I enjoyed music much that it becomes part of my whole day and my whole being. As I grew, I noticed how my moods affects the music want to hear. I made my own classification based on my mood. When I am happy, prefer listening to pop rock, and from mild to alternative rock. I feel the enjoyment of natural drumbeats and mild strums of the guitar. When I am in love, I listen to MOM or Pop love songs. I can relate to the story and makes me imagine being like a princess.When I am angry, I listen to heavy metal rock where everything is very noisy. I feel like doing heavy drumbeats and shouting vocalist to release the tension. When am depressed, settle for biblical and inspirational songs to give me hope and be strong. I dont prefer a specific type of music. I can blend on every type of music. Topic: Similarity Of Quality Of Work and Taking care Of a baby Doing a quality work is like taking care of a baby. Both needs proper attention and time. If you want your work to be of good quality, you will focus on it and will not hurry doing it.Regularly, you will monitor your works improvement and check if its getting better. Doing quality work will make you happy when your employer smiles and gives you a raise in salary. Just like taking care of a baby, you will focus and not hurry when feeding her, changing her diapers, bathing her, and clothing her. Regularly, you will check her conditions and developments. A little smile from your baby will make you happy and will serve as an inspiration. Topic: Young Love Most of the young boys court a girl because she is beautiful, pretty, and sexy.In other words, they are attracted by physical appearance first rather than the inner characteristics. This can be noticed especially when a girl is new to school and some boys approach her and say that they like her. Its weird that they even dont know the girl but can easily show their admiration. In conclusion, physical attraction is the first key for young boys to feel being in loved. On the whole, this scenario is a good way for the teenagers to learn the correct way of loving without being serious at a young age. COMBINED METHOD Topic: School definition, description, classification.A school is a place where many things are studied and learned. It is typecast as the second home. A typical school is made up of many classrooms, playground, admission and guidance office, computer rooms, library, and canteen. A school is classified depending on the level it teaches. A school can be intermediate for toddlers. A school can be elementary for kids starting from grade 1 to grade 6. A school can be secondary school for the young teenagers from 1 SST year to 4th year. And a school can be a university or college that prepares students for their career without age restrictions.