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With the increasing demand for oil, developers are looking into projects like the Lower Tertiary in the Gulf of Mexico. While such developments could produce as many as 15 million barrels of oil, they would also be plunges into the unknown. Not much is known about the Lower Tertiary, and therefore any possible developments there could obtain less oil - and less profit. However, because oil is in such high demand internationally, the oil developments may actually prove to be economically beneficial to oil producers, given that the producers are willing to take the high risk in searching for the oil.

This article from the BBC exposes the rate at which oil is running out, and the consequences it will have on society. The implication is that the market price of oil is far cheaper than its real value, and this means that consumption is rapidly exceeding production. The article questions whether oil rationing should be imposed in order to preserve this scarce resource.

This article from the Global Times is about how rising oil prices are affecting logistics firms. As logistics firms are involved with the transport of goods, oil constitutes a large part of their costs. In the past, these companies have been able to neutralize rising costs by increasing their service fees, but now that the economy is on the rebound, this isn't as easy.

Scientists have predicted that fossil fuel will completely deplete in the naer future of mankind because of the human's abusive use and the attachment to fossil fuels. Oils are now considered valuable and SCARCE. However, new oil basins have been found in several parts of the world. Being said, oil may not have been scarce as it was thought to be

In this article, the relation between supply and price is being referred to, as Opec is being criticized for lowering the price of crude oil although it has announced the largest supply cut in its history. The article thus criticizes Opec, and in short accuses it of not using price as help on allocating crude oil.

Mexico is heavily dependent on oil funds. However, amidst the decline of the oil revenue, lawmakers have proposed an increase in the nations VAT to offset losses. Will the raise in taxes help Mexico's economy? Or is it a tax that is unfair to the nation's population?

This article is about an agreement between three of Europe's biggest gas monopolies, Russia's Gazprom, Italy's Eni and France's EDF, to share the South Stream gas pipeline project. Natural gas is a natural monopoly because of very high startup costs and capital costs (for example the building of oil pipelines).

OPEC is one of the most famous oligopolies in the world: an organization of 13 of the world's largest oil producing countries. Together they determine output and in so doing heavily influence prices, which in turn has an impact on other economies. Their actions have long been the subject of criticism and debate.

This article considers deteriorating terms of trade in Chile, and examines the current value of exports and currency.

The World Bank and IMF are calling for support for Middle Eastern nations, arguing that higher food and oil prices, and a jobless economic recovery, will harm nations in the region. The World Bank and IMF are saying that, in the long run, lack of involvement in the Middle East will cause a downturn in the economy - and an increase in poverty.

This article gives an example of the effects of demand on price

British terms of trade is worsening due to higher import price for oil and commodities.

The Venezuelan government devaluates its currency for the second time this year in an attempt to meet importer's demand, tame inflation, minimize outflow of domestic currency, and maximize revenue from oil sale.