Essay About Issue Of Oil Price Rising And Brief Analysis

The Issue of Oil Price Rising
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The issue of oil price rising has become a widely discussion under the circumstances
of the instability in Middle East and global economic recession, and oil price
fluctuations may change peoples daily demand and economic development. Despite
the fact that lower fuel price is more likely to be accepted and supported by the
majority of people as it stabilises the prices of goods and the costs of transportation,
the value of increased oil price contributes to emerging enterprises by means of
innovation and technology development in the long term. In this essay, it attempts to
investigate four elements which link to high oil price and the rationalities behind the
increase of oil price for healthy lifestyle and innovative industries, which in turn
accelerate human progress. This essay will deal with four aspects. It will start with a
brief analysis of three major reasons with respect to the rises in oil price, followed by
explaining the flaws and merits of oil price rising. After that, four elements which are
business performance, consumption behaviors, environmental protection and
globalisation will be addressed and how they influence on the diversified enterprises
and healthy lifestyle. Finally, potential impacts on global economy and
recommendations for excessive oil price will be considered in terms of market
activities and global economy environment. According to Balke et al. (2009), oil prices are keeping upward trend recently, and it
is obvious that people continue to rely on conventional sources of energy, such as coal,
oil and natural gas.