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That oil crisis quadrupled the price of oil, eliminated economic growth, double inflation rates, and launched many nations into urgent pursuit energy self-sufficiency (Shojal 27).
What should the price be on a barrel of oil? This question is asked a lot and does not always have a easy answer. Oil is a strategic and valuable resource. The question of running out of oil is a major concern.
Another major concern is the rising price of a barrel of oil. Barrels of oil are currently approaching more than $70 dollars. Effects of these high prices are spreading throughout the world economy; increases in the cost of gas, travel, and home-heating oil are really starting to take a big bite into everyone's pockets...
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Common topics in this essay:
- Saudi Arabia Case.
- Crude Oil and Prices: OPEC needs to be shut down!
- Products, Services and Prices in the Free Markey Economy: British Petroleum (BP)
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- Saudi Arabia
- Saudi Arabia
- The Effects of the Unstable Relations between the Organization of Arab Petroleum Exporting Countries and the United States of America after the 1973 Oil Crisis
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