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Nowadays people are thinking that there is nothing to worry about in the oil industry of the world, but in economic terms, researchers are stating that the oil supply is becoming less elastic because new oil supplies come increasingly from unconventional oil. This is due to the fact that the new oil reserves that people are now exploiting are more expensive and they take much longer between the time the first well is drilled and when the first oil is produced

This article speaks about how as oil prices continue to rise, we must find a way to make oil prices more elastic.

It is about the changes in the PED of oil that is caused by the change in the sources.

Saudi arabia is a large supplier of raw oil. It plans to cut down oil production even more due to the continuos falling prices of oil (since mid-June 2014). Apparently Oil demand is lessening while supply remains strong, causing the prices to drop. According to the International Energy Agency, this will be a year of slow growth for the world's demand for oil.

As oil prices fall as much as 18%, global economy is booming. The purchasing power of the citizens are expected to rise. This steals around 0.5% of the national GDP from oil producers and gives it to consumers.

this article is about whether or not the prices of oil are going to go up or not. Oil is in high demand so the price is changing so oil companies can make more money off of it. chaging the price will make the demand for the product change.

This is an article about abundant supplies and weak demands which have driven global oil prices to levels not seen since 2010. The slump is accelerated by some comments from an oil nation. It is accelerated to keep output stable even if it means to drop the prices further.

This article is about how basing the oil business around the idea of the planet is running out of oil concept was a huge mistake as oil prices crash like a plane on fire.

in this article its talking about how the price of oil drops and continues to drop. and the most likely reason for this is that the world is loosing the amount of oil it once had. So since the world is loosing the amount of oil it once had the price keeps dropping. as there is a lack of supply of it

This article discusses how the price of oil has slumped from $115 to $92, a decline of 20% and the lowest for more than two years has in turn increased the quantity demanded for the raw commodity of oil. The article also discusses how this chain of events will allow for an increasing equitable distribution among consumers.

Currently in the global world, prices of oil are falling and demand is increasing. However prices of oil will stop fallng as there would be supply cuts in order to keep the market at equilibrium.

Oil prices are based on the supply and demand of it and not on its costs on the environment. "They price oil and gas based on current demand and supply, and not based on the costs to the planet in pollution, global climate change, sea level rise, and more."

This article talks about the sharp decline in oil prices this summer after an abundance of the good was extracted. The article also points out that the demand for oil still remains relatively constant. This increase in just supply - in accordance with the price mechanism - brought down the global price of the commodity in order to once again equilibrate the market.

Puerto Rico's Senate is voting to increase tax on barrel of oil by 68% to increase govermnet revenue to $2.9 billion. In addition to that the excise tax will help solve the $73 billion in debt that most public coroporations are struggling to achieve as they are economically unstable at the moment. This is related to the topic of tax revenue and excise tax within this course

This article by CNN is an interesting one that focuses particularly how oil prices will hit 55 Dollars after the 100 dollars of price levels in September. The article is an interesting approach to AD/AS balance and how this conflict will be likely to resolve.

THE oil price has fallen by more than 40% since June, when it was $115 a barrel. It is now below $70. Discusses how prices, business confidence and investment can affect the AD/AS curves for Oil

This article is speaking of how the not so recent, yet ever existing problem of supply and demand of oil continues to be a problem for everyone. This has been caused by a sudden jump in price, which can most likely be connected to a lack of supply, causing a greater demand.

Gasoline prices fall at different rates in each U.S. State due to different price elasticities in various areas. Some of the states with the highest rates of falling prices have the highest availability of close substitutes due to lots of oil refineries in the area, meaning that demand for gasoline is more elastic there.

Thanks to falling oil prices, America's motorists are enjoying gasoline prices about 20 cents per gallon cheaper than this time last year. The big move has come since July, with prices down about 15% nationwide - or nearly 50 cents - to an average $3.14 a gallon, according to data from Gasbuddy.com (find your state on our map below). Naturally, this has a stimulus effect on the U.S. economy - saving us about $100 billion in annualized fuel costs, according to economist Ed Yardeni. That works out to about $300 in annual fuel savings for every American. Just in time for the holiday season.

Venezuela is currently experiencing extreme scarcity levels in basic items and is also suffering from one of the world's highest inflation rates. Their economy isn't looking good.

A commodity boom has helped pull millions out of poverty across South America over the past decade. It has also unleashed a new scramble for oil, minerals and cropland that is accelerating deforestation and fueling a new wave of land conflicts from Colombia to Chile. The land and the forests are poorly regulated and protected leading to illegal plundering of resources which end up deteriorating and damaging the environment. This article is also a good example of negative externality of consumption and how demand can indirectly increase the damage inflicted on the environment. Since the amazon rainforest is only protected in some places and not in others (and the protected places are still open to the public), it is a common resource that is constantly being violated and reduced.

Due to the decrease in oil prices and other essential goods, people are spending more which is making the us economy grow briskly.

NRG Energy, the largest public electricity provider in the US is facing trouble providing enough electricity to power grids because of coal shortage. Coal stockpiles have fallen by 28% and prices have risen by 5.8%. And because oils are becoming more dominant in rail way delivery, coal plants are struggling to stay in market.

The Organization for Economic Cooperation and Development on Wednesday upgraded its growth outlook for the Japanese economy for 2015 and 2016, aided by lower oil prices that are expected to boost global demand.