Research paper about Gasoline crises Example | Topics and Well Written Essays - 1750 words

round Gasoline crises - Research Paper ExampleOil is essential for all the vehicles irrespective whether it is moving on air, water or land. Though many alternative solutions have been suggested as fuel instead of anoint for vehicles like solar energy, electrical energy etc, nothing evolved as a permanent and convenient weft yet. The exhausting of current crude oil sources has created major crises in the current human as many experts cogitate that the available oil resources may last for maximum 30 to 40 more old age considering the character of consumption at present. This paper briefly explains gasoline crises based on the oil price variations and its b rugged on global economy.Oil is an essential commodity for the worlds economy. It is impossible for us to conjecture about our body without blood. Same way oil is the blood of world economy. Any problems in occurred in this blood (oil) can cause severe damages to the body (economy). Oil is an essential commodity postulate everywhere, but unfortunately the oil resources are confined to some areas or regions only which made oil trade an essential economic activity in the current world. Major oil producing countries have monopolized the world market and they have varied the prices of oil as per the supply and demand theory. Around three years before the oil prices has reached an all time high of around $ 150 per barrel whereas it has come mint to as low as around $ 30 per barrel recently because of global financial crisis and low demand of oil products. America is one of the topmost oil consumers in the world because of the huge list of automobile vehicles used for different purposes in this country.Irrespective of developed, developing or underdeveloped, all the countries need oil and the oil trade has started between countries as early as the oil and automobiles were discovered. One of the rapidly maturation economies in the world Brazil has reportedly engaged in a, bilateral trade of US$ 8.192 m illion in 2004 with the Arab countries. (BRAZIL