World oil econmy

Running Head : World Oil Economy

International Portfolio Diversification : World Oil Economy

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International Portfolio Diversification : World Oil Economy

The prospect of innovating new technology is not only very economical but it also serves as an operational assistance to solve the forthcoming oil crises . With the help of this new technology , by 2015 , we will be capable of earning about 10 billion annually . Under the current scenario , many people have predicted that the oil crises will prevail in the future

Daniel Yergin expressing his concern

said that people seem to have forgotten that oil prices like other commodities keep fluctuating and these can go up again . Robert Dole pointed out , in the future security of world 's oil and gas supplies will be a vital interest of the US and other Powers (Romm and Curtis , 1996

The consequences of the rising trade deficit on the security of our oil resources have also been underlined by Alan Greenspan the Chairman of the Federal Reserve bureau . Department of the Energy Information Administration (EIA ) states that the daily consumption of oil by 2010 will rise to 20 million barrels . The International Energy Agency debating increase in population , urbanization and industrialization commented that the world 's population specifically of Asia and Latin America will increase about 50 by 2020 (Romm and Curtis , 1996

It means more villagers will move to city resulting in increase in the consumption of energy and oil and the decrease in the cultivating area as oil...