Report on Events Impacting the Supply and Demand of Oil

User Generated

qhyf1985

Economics

Description

Note: All sources must have a URL

I will do the voice and clean up to content so this should only be a Semi-finished power point with notes.

No need for background, animation or graphics

Competency

Explain and demonstrate knowledge of concepts including the supply/demand relationship, price ceilings and floors, and market surpluses and shortages.

Course Scenario

Oil Company X is a large oil refinery which has been expanding and taking on new investment projects. Recently, they have considered building a pipeline that stretches across the United States, from Canada to New Orleans.

The Board is considering a proposal to increase their oil stores to better prepare for events that impact the market price of oil. They have asked you, as a member of the Cost Department, to determine events that effect the price of oil. They have requested a report explaining the various effects of these events on equilibrium price and quantity.

Instructions

As a cost analyst at your firm, you are asked to evaluate the effects that the following scenarios will have on the supply and demand of oil in the oil market. You will submit a PowerPoint document with any relevant graphs, including a narration of the shift changes as if you were explaining them to the Board.

Using the drawing tools in PowerPoint, graph the changes to the supply and demand curves in response to the following events:

  1. Regulations are passed which restrict drilling in many areas of the U.S. to preserve protected areas.
  2. The U.S. has a large increase in birth rate and population.
  3. A recession occurs.
  4. There is an increase in availability of affordable, alternative energy sources.
***Only one curve (supply or demand) will shift for each of these events.***

Be sure to provide an explanation in the note to justify why the supply and/or demand curve would shift, the direction of the shift, and the new resulting equilibrium price and equilibrium quantity. Remember that you do not need to include actual figures, but rather explain if the price and quantity would be increasing or decreasing. You can use the drawing tools within PowerPoint to draw your graphs. Also, be sure to include the change in the resulting equilibrium price and equilibrium quantity if any curve shifts occur.

Format your PowerPoint to include a title page, introduction, body slides, conclusion, and references. Remember to cite your sources using correct APA format, and also use correct grammar, spelling, and formatting.

Unformatted Attachment Preview

Grading Rubric F F C B A 0 1 2 3 4 Not Submitted No Pass Competence Proficiency Mastery Introduction and/or conclusion did not summarize Not the changes in Submitted supply or demand curves and impact on price and quantity. Introduction and/or conclusion did summarize the changes in supply or demand curves and impact on price and quantity. Introduction and/or conclusion did not summarize the changes in supply or demand curves and impact on price and quantity, and used clear examples of each. Introduction and/or conclusion did not summarize the changes in supply or demand curves and impact on price and quantity, used clear examples of each, and included a well-defined synopsis of the report goals. Explanation of Event 1 did not summarize the changes in supply and/or Not demand curves, Submitted or curves shifts were incorrect. Explanation of Event 1 summarized the changes in supply and/or demand curves correctly, but did not adequately explain changes in equilibrium price and quantity. Explanation of Event 1 summarized the changes in supply and/or demand curves correctly, adequately explained changes in equilibrium price and quantity, and used clear examples of each. Explanation of Event 1 summarized the changes in supply and/or demand curves correctly, adequately explained changes in equilibrium price and quantity, used clear examples of each, and included well-defined reasons for proposal recommendation. Explanation of Event 2 did not summarize the changes in supply and/or Not demand curves, Submitted or curves shifts were incorrect. Explanation of Event 2 summarized the changes in supply or demand curves correctly, but did not adequately explain changes in equilibrium price and quantity. Explanation of Event 2 summarized the changes in supply or demand curves correctly, adequately explained changes in equilibrium price and quantity, and used clear examples of each. Explanation of Event 2 summarized the changes in supply or demand curves correctly, adequately explained changes in equilibrium price and quantity, used clear examples of each, and included well-defined reasons for proposal recommendation. Explanation of Event 2 did not Not summarize the Submitted changes in supply or demand curves, Explanation of Event 2 summarized the changes in supply or demand curves correctly, but did Explanation of Event 2 summarized the changes in supply or demand curves correctly, Explanation of Event 3 summarized the changes in supply or demand curves correctly, adequately explained changes in equilibrium or curves shifts were incorrect. not adequately explain changes in equilibrium price and quantity. adequately explained changes in equilibrium price and quantity, and used clear examples of each. price and quantity, used clear examples of each, and included well-defined reasons for proposal recommendation. Explanation of Event 4 did not summarize the changes in supply or Not demand curves, Submitted or curves shifts were incorrect. Explanation of Event 4 summarized the changes in supply or demand curves correctly, but did not adequately explain changes in equilibrium price and quantity. Explanation of Event 4 summarized the changes in supply or demand curves correctly, adequately explained changes in equilibrium price and quantity, and used clear examples of each. Explanation of Event 4 summarized the changes in supply or demand curves correctly, adequately explained changes in equilibrium price and quantity, used clear examples of each, and included well-defined reasons for proposal recommendation.
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Explanation & Answer

Attached.

Events Impacting the Supply
and Demand of Oil
University:
Name:
13th December 2018

Agenda
• Introduction
• Major Factors that affect oil prices
• Effects of factors on Equilibrium price and
quantity
• Changes to supply and Demand Curve
• Conclusion
• References

Introduction
• Oil is defined as a naturally occurring substance
on the earths crust
• It is classified as a hydrocarbon and its dark and
sticky
• The substance is highly flammable and can be
burned to produce energy which can be sold
• Gas prices keep on shifting due to many factors
within the environment
• The demand for oil is dependant on the world’s
macroeconomic factors

Major Factors that Affect Oil
Prices

• Economic Factors
• Environmental factors
• Political factors
• Other Factors:
❖Regulations
❖Birth-rate & Population
❖Recession
❖Alternative Energy Sources

Effects of the factors on
Equili...


Anonymous
Just what I was looking for! Super helpful.

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