Analyze the effects of the oil economy on Nigerian refugees Carmen Miller Nigeria is Africa’s most populous country, and when oil was discovered in the Niger Delta in 1958, Shell oil began production (Crude Politics). With an average output of 2.5 million barrels per day (Donatus), Nigeria has become the highest producer of crude oil in Africa and the third-highest in the world (World Factbook). Nigeria’s population growing rapidly, and is projected to reach 392 million people by 2050 (Falola),
in Canada has to do with the oil mining of the Alberta oil sands and the economic and environmental effects that coming along with extracting this resource. This crude oil reserve is the third largest in the world (Oil Sands, 2015), and what makes it different than other oil extraction methods is that the oil is mixed in with sand, clay and other minerals and needs to be treated properly before it can be used by refineries (What is Oil Sands?, 2015). The need for oil has been steadily increasing
dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing countries. therefore, the impact (positive or negative) which oil price could have on exchange
dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing countries. therefore, the impact (positive or negative) which oil price could have on exchange
TransCanada actually projects. They also argue that the production of this oil creates more emissions and possible environmental hazards than traditional gas extraction methods. Lastly disputants believe that funding this bill with government money would be a step backward
When crude oil prices go up or down, gas prices tend to follow. And right now, gas prices are on the decline. When negative externalities exist, the free market will produce too much and sell it at a price that is too low to achieve allocative efficiency. Now, why should the gas prices go up? It's pretty clear that the American demand for gasoline outpaces our ability to supply it. And as a result, that's why every time something goes wrong the price of gasoline skyrockets. The goal is not necessarily
of a proposed crude oil pipeline that will run south from the Alberta oil sands to the refineries in the U.S. With the economic and environmental implications of such a large project so close to home such an undertaking would also impact all of the local communities as well as economies all over the world. For that reason how should the US government decide the pipeline’s future, taking into account the economics of the venture? Through the economic lens I will be pursuing the effects of the pipeline
1.0 Introduction Economic shock on Malaysian export can describe as a badminton competition between Dato’ Lee Chong Wei and Lin Dan, their relationship can be either positive or negative which is depends on their position whether they are involve in a competition or beyond the competition. In a single match of badminton competition, each smash is like a “shock” for other side even though they could predict it, but each “shock” is a test or challenge to the player whether the player able to handle
components of an environment (Fatuyi et.al.,2011; Aboriba, 2001). One of the problems is the oil spillage pollution. Environment pollution due to oil spill is one of the frequent problem happened in country that has petroleum source like Malaysia, Nigeria and Iraq. According to Fatuyi et.al and Okpokwasili (2011,1996) the petroleum or crude oil that accidentally discharge or flow into the environment lead to oil spillage pollution. This spill has caused most significant pollutant in the environment as
accident that led to an oil spill in the Gulf of Mexico and the southern coast of the United States, as well as the loss of lifes. This spill continued for three long months. This oil leak has damaged and had continuous negative effects on the coastal environment and BP’s reputation. The explosion of the Deepwater Horizon, an oil drilling platform, on April 20, 2010 took the lives of eleven workers, injured seventeen others and leaked close to five million barrels of crude oil into the ocean (Exercise: