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Article Analysis on the Oil Industry - Book Report/Review Example

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Article Analysis on the Oil Industry

The writer mentions, "Today, despite astonishing advances in exploration and production technology, the industry is finding just 12 billion new barrels of oil each year - less than half of what we use. This is one reason that oil prices, which had averaged $20 a barrel since the 1970s, have been hovering at $30 for nearly a year." (Roberts, 2003) These facts and figures are important for an article such as this as it can well be mentioned that these are the basic strong points of the article. However, there are no further analyses of the future developments in the oil industry in relation to fiscal market or its implication in the global market scenario.
It is true that the writer's intention is to warn the readers about the upcoming crisis in the oil business but it is a fact that the writer is more dependent on data rather than personal synthesis of the entire scenario. It is a fact that the oil crisis of the Middle East is no easy problem to be solved and there are too many variables related to this issue that need to be addressed and evaluated. ...Show more

Summary

Running out of Oil and Time is a Los Angeles Times Editorial by Paul Rogers published on March 7, 2004. The focal point of this text is mainly about the ever-increasing demand of oil juxtaposed with ever decreasing supply of oil. However, it should be mentioned that Rogers indicates that with development of innovative technological help this situation can be negated…
Author : ghegmann
Article Analysis on the Oil Industry essay example
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