What can you tell me about the supply and demand of oil?

Question

I'm making a video about how the supply and demand for oil is becoming a major problem across the world... if you could tell me any information that might be helpful....

examples-

what are we doing about it

what can people do individually and as a whole to help

what are alternatives

when did this become a problem

how are other countries dealing with this

when will we be out

do you know any websites i could visit?

Answer 1

I can tell you the basic supply and demand theory from economics. Supply little, demand goes up, and therefore price goes up. If demand is high, prices will automatically go up. Oil is a super important resource because it fuels basically everything and even though there are alternatives, I don't think we have fully acquired or adjusted to them yet. If these alternatives were readily available and usable then oil won't be so sensitive to the laws of supply and demand.

Hope this helps a little, but you'll be better off doing research w/websites

Answer 2

They have the oil.

We showed them how to get it out of the ground and they nationalized the industry.

We need it.

They want to sell it.

As long as we can and will demand it at any price, they will continue to supply it and charge as much as we will pay.

Now they are taking the windfalls and buying everything they can get their hands on because they know the oil is not endless. As supplies dwindle, it will cost more and more.

The day will come when oil is worthless as an energy source but that day is far away.

Answer 3

I GUESS OUR PRESIDENT IS TOO BUSY TO CHECK ANOTHER OIL SOURCE, BECAUSE I HAVE ONE.

Answer 4

The demand is higher then the supply. This will never change so prices will continue to go up until a new solution is formed which lowers demand or ups supply.

Answer 5

don't make others to do your homework for you, go do your own research. sheesh!

Answer 6

The OPEC- countries determine the supply of oil. The demand is determined by consumers of oil. The price of oil has ascended partly because of expectations that other countries will use more oil than ever before.  In other words, when you expect something that you sell to be more widely used, why not set higher prices? It will still be sold.

Other countries are planning propaganda campaigns against the use of excessive heating/cooling of houses and other personal items. The idea is that the more oil individuals use, the higher prices will go.

Answer 7

the supply is down and OPEC demands we give them $4.oo a gallon for it

Answer 8

Forget the oil. Secure the warehouses...http://www3.state.id.us/cgi-bin/newidst?...

.

Answer 9

demand is higher than supply?

Neither demand nor supply can be measured in nominal values, they are just the name for the relationships. So, demand cannot be higher than supply.  The QUANTITY DEMANDED is higher than the QUANTITY SUPPLIED, is what you might have meant.  I think that's true.  OPEC and the suppliers reduce production to reduce supply and raise the price.  Cartel/oligopoly.

Answer 10

sorry cannot help

Answer 11

Answers to the questions:

Precious little, except breast-beating

Produce more at less cost

Fuel saved is fuel earned. Start an engineering course in energy economy. Curb profligacy in day to day life. For instance use sunlight for drying clothes.

It was always there, only you woke up now.

They too are trying all tricks, like you. Countries like Russia are sitting tight over their resources of liquid gold.

God knows.

Plenty;

you can take a course in 'oil economics', that'd be better.