Oil Price Super Spike

소개

Industrial Economics 강의 수강 중 제출했던 Oil Price Super Spike에 대한 Essay 분석입니다.(영문 4P)
1.What variables are you going to examine before you decide whether to agree with Goldman Sachs?
2.Do you agree with what Goldman Sachs stated? Why? Why not?
골드만 삭스의 석유 가격에 대한 보고서를 보고 Micro&Macro한 증거를 제시해 위 질문에
대한 대답을 제시하였습니다.

목차

1.What variables are you going to examine before you decide whether to agree with Goldman Sachs?
2.Do you agree with what Goldman Sachs stated? Why? Why not?

본문내용

1. What variables are you going to examine before you decide whether to agree with Goldman Sachs?
First of all, I need to understand how the oil market works before I decide whether to agree with Goldman Sachs. The oil market is mostly controlled by the OPEC cartel and the demand for oil is very inelastic (at least in the short-run), so the manipulation of output quotas could be done by the OPEC.
But actually, there are a lot of factors such as economic and political power and natural disaster to influence shaping the oil market. Thus, the supply and demand side of the oil market is needed to be considered as key variables. I’m going to examine what current elements affect the supply and demand side of the oil market. Goldman Sachs also mentioned about thin spare capacity in the supply chain, long response times for bringing on supply additions and a huge demand in the US, China and India as the main determiners.
At the same time the current and future events of the all variables such as terrorism in Arab area and political situation of the oil producing country need to be studied for the reasonable prediction.

2. Do you agree with what Goldman Sachs stated? Why? Why not?
Even if the elements stimulating the oil price could be offset a little bit with some reasons, I agree with the oil price has entered a “super-spike” period with reasons below.

참고자료

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