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Supply Up, Demand Down, But Oil Prices Rise

Supply Up, Demand Down, But Oil Prices Rise. David R. Baker May 24, 2009. The Problem. High oil prices Caused by speculators. Key Terms. Supply Demand Speculators Recession Economic Recovery. Stakeholders: Who are they?. Winners. Losers. Oil producing countries/companies.

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Supply Up, Demand Down, But Oil Prices Rise

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  1. Supply Up, Demand Down, But Oil Prices Rise David R. Baker May 24, 2009

  2. The Problem • High oil prices • Caused by speculators

  3. Key Terms • Supply • Demand • Speculators • Recession • Economic Recovery

  4. Stakeholders: Who are they? Winners Losers Oil producing countries/companies Speculators Consumers: individuals/ businesses Alternative/renewable energy producers Car/Truck owners Oil Refineries Power plants Gasoline stations “Global warming” Unknowns

  5. Shift in Supply and Demand of Gasoline (2000-2009)

  6. Alternative No. 1: Encourage Energy Saving • Forcing people to use energy efficient cars/homes • Pros • Cleaner air, global warming will decline • Cons • Lower standard of living, living habits change

  7. Alternative No. 2: Develop Alternative Energy Resources • Renewable energy • Other energy technologies • e.g. Shale gas • Pro • Cleaner/Cheaper Energy • Con • Might be costly at the start

  8. Alternative No. 1: Ban Speculation • Passing a law to reduce/eliminate speculation • Pro • Price of oil goes down • Con • Oil market may become unstable

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