Crude Oil Last 10 Years - 4918 Words

INTRODUCTION The role of petroleum products in our lives is unquestionable. It is safe to say that oil is the cornerstone of our civilization. A pessimist might argue that without oil our industrial society will collapse and there will be rapid decline in the world population. But again that is a pessimist’s view, personally we would like to think that we will in near future find other energy sources on which we can depend and build our civilization to reach the next milestone. In this report we have tried to highlight the fluctuations of crude oil during the period of 2001-10. The scope of this report is limited only to this period as we believe that events that took place during this decade had the potential to change the oil game so†¦show more content†¦Thus the oil market participants – producers, refiners, marketers, and traders – would not have one of their bases for setting prices in their contracts and other transactions. It does not appear that the oil industry was materially affected by the closing of the Nymex, which, in any event, resumed all operations in about one week. While the immediate effect of the attacks on petroleum markets was to drive prices up, market forces – reflecting little change in supply and demand – acted quickly, and crude oil prices eased within little more than a week. Average crude oil prices paid by U.S. refiners actually declined for the month of September 2001 – falling to $ 20.82 per barrel from $24.08 in the previous month. 2002: After moving lower in 2001, crude oil prices moved higher in 2002 reaching over $30 per barrel in September 2002. Higher prices were supported by a number of factors. One was the ongoing U.S. war on terrorism and rising tensions with Iraq. There was the likely potential that military action would be taken against Iraq that would disrupt the supply of crude oil to the market. With that issue still not settled as 2002 drew to a close, crude oil prices continued to find support. While there were factors supporting higher prices, there were also factors working against them. The Organization of Petroleum Exporting Countries (OPEC) after a meeting in 2001 agreed that production of oil would be cut. TheShow MoreRelatedOil Prices And Rise And Fall Of Chinese Economy Essay1125 Words   |  5 PagesFalling crude oil prices and rise and fall of Chinese economy Who’s afraid of falling crude oil prices? Isn’t it something to celebrate from the consumers’ point of view, especially in the Asian region! The answer is perhaps â€Å"no†. Though the debate over the impact of plunge in crude oil price and its implications will continue for long, nothing can be said with fair amount of certainty as long as its link with the slowdown of Chinese economy. A substantial amount of work is being carried out by theRead MoreOil Gas Price Evolution1625 Words   |  7 PagesMoves the Oil and Gas Price? Why are oil prices and gas prices so dramatically increased in the last view years? Oil and gas price will maintain the current level or rise in the next years because of the world economy, an increased demand on oil and its production costs, the gas demand, and the investment in developing alternative energy sources. How long will the oil reserves last? It is currently estimated that the oil reserves in the United States will last for 20 to 30 years, butRead MoreOil And Demand For Oil1174 Words   |  5 PagesCrude oil is one of the most economically mature commodity markets in the world. Even though most crude oil is produced by a relatively small number of companies, and often in remote locations that are very far from the point of consumption but it is shipped all over the world. The global supply and demand determines prices for oil. Events around the world can affect the prices at our home for oil-based energy. OPEC, the large oil-producing cartel, does have the ability to influence world pricesRead MoreManaging Crude Oil Using Derivatives1604 Words   |  7 PagesMANAGING CRUDE OIL USING DERIVATIVES The present price markers for crude oil are WTI, Brent and Dubai/Oman. The crude oil derivatives contracts are traded on the New York Mercantile Exchange (NYMEX). The exchange acts as a regulatory body and as a financial trading forum for all the parties interested in buying the options. Members of the exchange carry out the trades themselves, or they act on behalf of the firms they represent through an open outcry auction held in the trading room or the floorRead MoreThe Economy Of The Oil Industry952 Words   |  4 Pagesthe last years, the oil industry practiced its deepest recession since 1990s. That being said, the recovery for this industry finally starts getting better. The Organization of the Petroleum Exporting Countries approved to change the production last year, 2016. This arrangement has been holding over to this year, with oil prices increasing for the past several months. But in recent weeks, United States records have been found greater oil prices have been faded. Ex perts think it will be years beforeRead MoreEconomic Issues Independent Research Assignment965 Words   |  4 Pages Year 10 Commerce Economic Issues Independent Research Assignment Cover sheet Submitted by: Alex Dicembre Word Count: 938 Contents page Executive summary This report will consist of the causes and consequences of the changing price of WTI crude oil and recent trends in the global price of oil. It will also include the effects of the ever-changing price of oil on individuals, business firms, governments and the economy. Data PriceRead MoreOil Drilling and Gas Extraction Industry in the US Analysis1242 Words   |  5 PagesConnor Sims, Associate SUBJECT: Oil Drilling amp; Gas Extraction Industry in the US Analysis (21111) This report presents information regarding the industry, the primary operator of oil and gas field properties. The industry fuels its key buyers, the Natural Gas Distribution (22121) and the Petroleum Refining (32411) industries, with crude oil and natural gas. The industry continuously battles a shortage of available oil. In addition, many major oil fields have been in use for decades, slowlyRead MoreThe Price Of Gasoline Prices1662 Words   |  7 PagesIn the last ten years, gasoline prices have been increasing in Canada. Consumer spending on gasoline holds a large amount of total household expenditures. In 2009, the Consumer Price Index (CPI) calculated on average that Canadians spent about six percent of their total household budget on gasoline (Statistics Canada, 2013). Therefore, gasoline prices changes on consumer price inflation. In order to make gasoline, crude oil and refineries are required. When examined, gasoline and crude oil are twoRead MoreBusa 3000 Country Paper1518 Words   |  7 Pagesis in need of policies to modernize the economy and create banking reform (U.S. Department of State). The current GNI – PPP is $283 billion USD, with the per capita around $8,110 (Google Public Data). The major natural resources in Algeria are crude oil and natural gas, produced since the 1950s (World Desk Reference). These are also the country’s major exports, totaling $57.19 billion USD in 2010. Algeria’s top export partners are the United States, Italy, Spain, France, Netherlands, Canada, andRead MoreThe Oil And Its Effects On The Economy1390 Words   |  6 PagesWe go to know on the ecuadorian oil situation, his commercialisation to national and international level, analyse the diverse systems of exploitation that at present are treated of unsuitable form and with big deficiencies in the state field Know on the functions that operate at present in Petroecuador, and his result in the Ecuadorian economy. Know those who find mayorme nte benefited with the resource of the oil in the Ecuador, and as they find structured said advantages as they were the one of

Internet Censorship and Government Regulation Essay

These days the internet has become an essential part to living for almost everyone but one of the controversial topics that people bring up is that whether or not the government should regulate information on the internet. Both sides have valid points which form a reasonable argument. Some people would say that they need to because of the dangers lurking around in the cyber world but the reasons for why the government shouldn’t regulate the Internet outnumber the reasons for why they should. The federal government should not regulate or censor information on the internet because doing so violates the first amendment and citizen’s right to privacy, degrades the educational value of the web, prevents the promotion and facilitation of†¦show more content†¦In 2011, several people started a â€Å"Don’t Filter Me project.† They wanted to remove the web filters on the school computers that blocked several educational sites. They filed lawsuits and demand ed that they unblock these sites and take away the web filters. Also another group of people petitioned the Supreme Court to strike down the Communications Decency Act in Reno v. ACLU in 1997. As a result, the court granted the â€Å"highest level of First Amendment protection to the internet.† Also in 2004, the Supreme Court â€Å"announced that it will not hear government’s appeal of a ban on the Child Online Protection Act.† They thought of this as a violation of the First Amendment (Internet Censorship 1). Once again, it would be common sense to allow someone their first amendment and privacy rights. Without these rights, the people would never be able to truly express their ideas to the public. If the government censored the internet, people would not be able to publish what they wanted to because of the internet regulation. Instead of thinking creatively and coming up with new ideas, people would have to follow regulations. This could be a danger to society because it would hinder the people from succeeding, evolving, and gaining more information. This is why people should be allowed to think freely without the federal government censoring and regulating the internet (Redwin 3). This country started on the foundation and basis of freedom so it should be kept thatShow MoreRelatedInternet Censorship in China Essay937 Words   |  4 Pagesamong numerous other sites, regularly. The internet is open and uncensored for the most part, other than parental controls. In China, most, if not all of those types of sites are or have been blocked. As in, you could not go to them, unless you found some way around the web filters and firewalls the Chinese government runs in their country. While China defends their practice of internet censorship, based on â€Å"protecting† the people, heavy internet censorship is a block to free speech and impedes economicRead MoreThe Censorship Of The Government In The Chinese Government1070 Words   |  5 Pagesbeliefs and be closed off to democratic societies. The Chinese government has successfully blocked out information such as the Taiwanese Independence and information of about the 1989 killings in Tiananmen Square (Rauhala 2016). They believe that this creates a â€Å"healthy internet† however this policy only impedes free speech. They believe that this creates a â€Å"healthy internet† however this policy only impedes free speech. The censorship of people was the ultimate goal of the legislation and while they Read MoreCensorship And Censorship Of The Internet985 Words   |  4 Pagesissue of Censorship of the Internet in America has become a trending topic. The internet has been commonly censored to comply with the Digital Millennium Rights Act, but in recent times our government has been requesting more aggressive censorship in order to provide a safer cyberspace. If the American government began to censor the internet, the restriction will result in suppression of freedom of the press, hindering freedom of speech, and reduce the plethora of information on the internet. If AmericaRead MoreA Famous Phrase Attributed To Deng Xiaoping Is The Following:1336 Words   |  6 Pagesreforms have softened the sharpest edges of these past regimes but the governments still retain enormous power over the people. Russia and China limit popular sovereignty in a variety of ways. Both see political freedom and liberty as threats to government sovereignty. Internet regulation, or mainly censorship, is a method both countries employ to limit the influx of foreign, â€Å"western† ideas that could threaten the government and the political culture. While there is little doubt that Russia’s systemRead MoreCensorship Of The World Wide Web1326 Words   |  6 Pagesconcerns for government authorities. Sharing information is a powerful tool, and too much of it will make any government nervous. Censorship of information has had a long history throughout the world. In ancient China for example, censorship was considered a legitimate instrument for regulating the moral and political life of the population (Newth). Even today, the Chinese government has full authority to censor anything on the web. Western societies also have a long history of censorship. The originRead MoreThe Dark Web : The Deep Web Essay1696 Words   |  7 Pagesusage. The dark web essentially creates a difficult to track, anonymous internet browsing session by using proxies and other methods. The dark web allows information and data to be gathered and utilized without the user having knowledge as to where the data had come from. Using a proxy makes the user s IP address constantly change so that they cannot be tracked easily. The main argument involving the dark web is if the government should attempt to regulate and monitor the dark web in the effort toRead MoreCensorship on the Internet Essay908 Words à ‚  |  4 PagesCensorship on the Internet Five years after the first world wide web was launched at the end of 1991, The Internet has become very popular in the United States. Although President Clinton already signed the 1996 Telecommunication ActI on Thursday Feb 8, 1996, the censorship issue on the net still remains unresolved. In fact, censorship in cyberspace is unconscionable and impossible. Trying to censor the Internet its problematic because the net is an international issue, there is no standard forRead More Government Intervention On The Internet Essay1398 Words   |  6 Pages Government Intervention on the Internet nbsp;nbsp;nbsp;nbsp;nbsp;During the last decade, our society has become based on the sole ability to move large amounts of information across great distances quickly. Computerization has influenced everyones life in numerous ways. The natural evolution of computer technology and this need for ultra-fast communications has caused a global network of interconnected computers to develop. This global network allows a person to send E-mail acrossRead More Should the Internet be censored? Essay861 Words   |  4 Pages Should the Internet be censored? From colonial times to the present, the media in America has been subject to censorship challenges and regulations. The Internet has become a vast sea of opportunity. Everyone is seizing the moment. The good and the bad of society have reduced the meaning of the Internet. Menace threatens each onlooker, as people browse the many pages of Cyberspace. As the new technological advances help to shape our society, one cannot help but think of the dangers waiting to preyRead MoreGovernment Internet Censorship of China1195 Words   |  5 PagesGovernment Internet Censorship of China The Internet is also called â€Å"Information superhighway† because of the limitless amount of data that one person can access from it. The fact is not all of us can access the Internet like what it is. There are many roadblocks on the superhighway in form of â€Å"Internet Censorship†. There are several kinds of motivations for censorship. It ranges from keeping children away from undesirable content to a government control of nation’s access of information. In

Wolfgang Keller at Konigsbrau-Tak Essay example - 1048 Words

Wolfgang Keller graduated from Harvard Business School at the age of 34 and soon after experienced instantaneous business success in the food manufacturing industry. Keller, drawn to turn around opportunities departed the food manufacturing industry for Konigsbrau brewing. Keller accepted the role of managing director of Konigsbrau subsidiary in the Ukraine. Keller applied his hands on style of management, which brought earning success to the suffering subsidiary. Keller seemed to be on the successful pathway only to realize he had not yet developed leadership skills that would facilitate his relationship with Dmitri Brodsky. Brodsky, the commercial director presented a management style polar opposite to that of Keller. Keller,†¦show more content†¦Jack Welch stated, Leaders relentlessly upgrade their team, using every encounter as an opportunity to evaluate, coach, and build self-confidence (2005, p. 63). Keller obviously missed opportunities to apply this leadership rule in working with Brodsky. Missed opportunities evidenced by the explosive exchanges during Brodsky’s evaluations. These explosive exchanges happened not one year but two years running. In Winning, Jack Welch states, â€Å"Too often managers think that people development occurs once a year in the performance reviews† (2005, p. 66). Had Keller taken occasion to evaluate Brodsky’s performance on a daily, weekly, or monthly basis the evaluation presentation would not have been a surprise to Brodsky. Brodsky’s attempt to discuss a pending lawsuit against Konigsbrau presented by a distributer with no success represents the last opportunity lost we will discuss. Keller, leaving Brodsky in the dark took it upon himself to discuss the lawsuit with the disgruntled distributer. Keller was successful in his discussion but failed again as a leader. Welch states, Self-confidence energizes, and it gives your people the courage to stretch, take risks, and ac hieve beyond their dreams. It is the fuel of winning teams (2005, p. 66). Had Keller taken the time to apply the first rule of leadership, Keller’s success as a leaderShow MoreRelatedWolfgang Keller at Kà ¶nigsbrà ¤u-Tak (a)1462 Words   |  6 PagesI. Introduction Problem Definition Kà ¶nigsbrà ¤u A.G., which was a Munich-based brewer company, has subsidiary in Ukrainian. Wolfgang Keller who is the managing director of Ukrainian subsidiary with having succeeded as a hands-on manager, worked for food manufacturing companies in the past. He generally took his success with effective solutions such as changing marketing strategy, reconfiguring the sales force, hiring a new top-management and many others. As a result of this effort, he set one’sRead MoreWolfgang Keller at Konigsbrau-Tak (a)1224 Words   |  5 PagesNathan Johnson Case Analysis MGT 400 – 10/13/09 Wolfgang Keller at Konigsbrau-TAK (A) 1) What is your assessment of Brodsky’s performance? Please be specific. The first point of concern regarding Brodsky’s performance that I saw was Keller’s description of how long it took Brodsky to complete a project or task. As Keller highlighted Brodsky’s great analytical skills with regards to how he redesigned the sales force organization and the development of a comprehensive set of information and controlRead MoreWolf Case7243 Words   |  29 PagesOCTOBER 17, 2008 JOHN J. GABARRO Wolfgang Keller at Kà ¶nigsbrà ¤u-TAK (A) After a two-month temporary assignment in Brazil, Wolfgang (Wolf) Keller was returning to Europe, where he would meet his family in Switzerland for a 10-day ski vacation. His boss, Dr. Hans Hà ¤ussler, had insisted that he take the time off before returning to Ukraine, where Keller was managing director1 of Kà ¶nigsbrà ¤u’s Ukrainian subsidiary, Kà ¶nigsbrà ¤u-TAK A.E. The parent corporation, Kà ¶nigsbrà ¤u A.G., was a Munich-based brewer ofRead MoreWolfgang Keller Case Analysis Essay1428 Words   |  6 PagesWolfgang Keller Case Analysis MBA-6120 Abstract Wolfgang Keller is a 34 year old graduate of the Harvard Business School. After a fast moving career building a reputation for turning around failing businesses, Wolfgang Keller once again found himself facing the challenge of turning around a losing business. This time it was as managing director of the Ukrainian subsidy of the Konigsbrau Brewery. The company was experiencing â‚ ¬2.9 million per year with annual sales of â‚ ¬116 millionRead MoreEssay on Management and Wolfgang Keller1212 Words   |  5 PagesQuestions for Wolfgang Keller Case 1) Who is Wolfgang Keller? What are his key strengths and weaknesses? Wolfgang Keller is the Managing Director of Konigsbrau-TAK, which is the Ukranian subsidiary of a major premium beer brewer. Keller has previous experience in financially turning around a German food product manufacturer’s two subsidiaries (relatively smaller in scale than his current organization). Keller’s foremost strength is his ability to turn around an apparently difficultRead MoreMy Assessment of Brodsky’s Performance Essay896 Words   |  4 PagesWolfgang Keller at Konigsbrau-TAK (A) 1) What is your assessment of Brodsky’s performance? Please be specific. One of the main problems regarding Brodsky’s performance that I saw was the amount of time that Keller said it took Brodsky to complete tasks. While Keller did explain Brodsky’s adeptness in his ability to redesign the sales force organization and the development of a comprehensive set of information and control systems, proving he is capable of good work. The problem comes when weRead MoreEssay Chattanooga Ice Cream Company Case Analysis1577 Words   |  7 Pages Chesapeake, VA: Darden Publishing. Daniel Goleman, (2000, March-April). Leadership that gets results. HBR, 78-90.. Daniel Goleman, (1998, November-December). â€Å"What Makes a Leader?†. HBR, 93-102. John J. Gabarro. (2008, October). Wolfgang Keller at Konigsbrau-TAK (A). HBR, 1-18 John S. Hammond, Ralph L Keeney, and Howard Raiffa, (1998, September-October). â€Å"The Hidden Traps in Decision Making†. HBR, 47-48,50,52,54,56-58. John P. Kotter, (2001, December). â€Å" What Leaders Do†. HBR, 85-96. Patrick

Financing Pattern And Utilization Of Assets -Myassignmenthelp.Com

Question: Discuss About The Financing Pattern And Utilization Of Assets? Answer: Introducation In the given assignment, the annual report of the company named JB Hi-Fi Limited needs to be accessed. The annual report chosen for the same pertains to the year 2017. The company is one of the pioneer companies in the field of management retail goods and deals in Australia and New Zealand. The company is also listed on Australian Stock exchanges and has 112 stores in operation. It is one of the fasting growing business in Australia and deals in electronic games, video games, CDs, DVDs, electronic and electrical home appliance. The total depreciation expense being recorded by the company in its profit and loss statement for the year ended 30th June, 2017 is $ 53.9 Mn vs $ 40.9 Mn in 2016(Das, 2017). The split of the depreciation expense can be seen in the screenshot below where out of $ 53.9 Mn, $35.6 Mn pertains to the Plant and equipment and the other $ 18.3 Mn pertains to leasehold improvement. The company recognises depreciation on the straight line basis and does the valuation of the assets as per the Australian GAAP and IFRS standards(Gooley, 2016). The company has also shown the detailed reconciliation of the balances of property, plant and equipment by the way of showing the balances at the beginning which is being arrived by deducting the accumulated depreciation from the Gross Block. Furthermore, the additions and disposals during the year, the impairment charge for the year, the effect of foreign exchange reserves, etc has also been shown in the reconciliation statement of the PPE. The depreciati on expenses has been arrived based on the management judgement and estimation of the useful lives of assets to be 1-15 years for Leasehold improvements and 1.5 15 years for Plant and equipment(Alexander, 2016). The depreciation method and the estimated useful lives of the assets is being assessed annually towards the end of the financial year and in case any changes are found, the effect of the same is reported on a prospective basis. Besides depreciation, the plant and equipment is also being assessed for impairment, if any, in acse the internal or external factors of impairment do exist. The impairment loss is tehn recognised in the profit and loss account as the difference between the carrying value of the asset and the recoverable value of the asset. The revoverable value is the higher of value in use or the fair value less cost of disposal. Gain or loss on the retirement of the assets is also recognised in the profit and loss accounting. It is generally the difference between the carrying value of the asset and the sale proceeds(Dichev, 2017). With regards to the accounting standards being followed here, the company has followed AASB 2014 4, which deals with the clarification on the acceptable methods of depreciation and amortisation. References Alexander, F. (2016). The Changing Face of Accountability. The Journal of Higher Education, 71(4), 411-431. Das, P. (2017). Financing Pattern and Utilization of Fixed Assets - A Study. Asian Journal of Social Science Studies, 2(2), 10-17. Dichev, I. (2017). On the conceptual foundations of financial reporting. Accounting and Business Research, 47(6), 617-632. Gooley, J. (2016). Principles of Australian Contract Law. Australia: Lexis Nexis.