DAVID R. BAKER MAY 24, 2009 SUPPLY UP, DEMAND DOWN, BUT OIL PRICES RISE.

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Presentation transcript:

DAVID R. BAKER MAY 24, 2009 SUPPLY UP, DEMAND DOWN, BUT OIL PRICES RISE

THE PROBLEM High oil prices Caused by speculators

KEY TERMS Supply Demand Speculators Recession Economic Recovery

STAKEHOLDERS: WHO ARE THEY? WinnersLosers Unknowns Oil producing countries/companies Oil Refineries Consumers: individuals/ businesses Speculators Power plants Car/Truck owners Alternative/renewable energy producers Gasoline stations “Global warming”

SHIFT IN SUPPLY AND DEMAND OF GASOLINE ( )

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

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

ALTERNATIVE NO. 1: BAN SPECULATION Passing a law to reduce/eliminate speculation Pro Price of oil goes down Con Oil market may become unstable

BEST ALTERNATIVE?