The Oil Crisis: Canada And Saudi Arabia

Currently Saudi Arabia is one of the leading producers of oil in the world. However, it is losing its foothold on the market. Many countries, like North America, are increasing their oil production and are looking for ways to become less dependent on foreign oil. The increased competition has caused oil prices to decrease. By producing their own oil, countries not only will increase their revenues, but will also reduce their need to rely on foreign oil. By reducing their need foreign an oil a country does not have to worry that their oil supply will be cut off if they go to war.

Canada ranks among the leading energy producers in the world, through oil production. These oil deposits rank oil sands of Canada as the largest oil deposits in the world after the Saudi Arabia and Venezuela. The only challenge with the oil sand deposits is that oil deposits are seen as unconventional. In effect, tar sands are recognized as one of the dirtiest energy sources in the world (Bailey & Droitsch, 2015). This fact is founded on the production factor; in producing one barrel of tar sands oil, the hazardous emissions are three to five times that of producing the equivalent of conventional oil. The Alberta oil sands are viewed as the single largest economic project in human history. The Canadian government and oil

Diverse and multi-faceted, the Canadian business market is one of the strongest functioning mixed market economies in the world. Within the Canadian economy, the oil and gas sector stands as one of the largest and most influential sectors. The oil and gas industry is unique as it affects almost every person and sector of the economy worldwide, whether it is through commodity or material input costs. In Canada, this growing industry could allow for the country to be the one of the “biggest energy producers in the world” leading to a massive paradigm shift globally.

Would you really want to be responsible for destroying the animals home and the environment? The United States has a huge debate whether or not We should drill for oil in Alaska’s wilderness. But the answer seems pretty clear to me because it is not essential for our economy ,it is not valuable for the environment, and it is causing a social disruption. In the background essay, it says that many colonies We're not concerned about protecting our natural resources because they thought they had enough natural resources to last forever; But We don't, We are limited and some day in the not too distant future we may run out of natural resources so we have to circumspect and start protecting it by using other materials such

The statement ‘Canada oil sands are much more of a blessing rather than a curse’ is not true because the disadvantages of oil sands outweigh the advantages. For this reason, this paper aims at indicating points against the statement. To understand the defects of oil sand exploration in Canada, one has to delve into the explanation of what oil sands are as well as how the entire process of mining and refining and thereafter, determine the disadvantages based on socioeconomic factors, environmental factors, as well as the infrastructure and energy required for its production.

Currently, Canada is known as a middle power as on many occasions Canada has proved themselves as more than just a country. A middle power is a sovereign state that does not have too much power but influences the world in a good way. There are three prominent times that Canada has proved themselves as more than just a country. For example, the Suez Crisis was a military and political confrontation that took place in Egypt. It was over the Suez Canal which was an artificial waterway in Egypt that connected the Mediterranean Sea to the Red Sea. The Suez Crisis threatened to divide the United States and Great Britain, potentially harming the Western military alliance as well. During this crisis, Canada was not affected in any sort of way. However, Canada’s soon-to-be Prime Minister, Lester B. Pearson, spent much of his time involving himself and trying to find a solution to the crisis.

Oil also plays a big role in Canadian’s everyday lives. Not only does oil fuel our vehicles, cook our food and heat our homes and generate electricity; it is also used in almost everything we use on a daily basis. From rain, snow or sunshine and from head to toes, you could be wearing petroleum-based products. There’s more than gas in your vehicle, tires, mud flaps, wiper blades, your vehicle is an oil and gas machine. From the time, you wake up and put your coffee maker on, until you set your alarm clock at night. You’re using oil products. We use hundreds of petroleum-based oil products every day from household appliances, electronics, personal products and much more. In an article about oil and Canada’s future it states “These along with

What would your first thoughts be as the ruler of a country that found out that and estimated ¼ of the worlds oil supply was in its own back yard? Would your reaction be how it could financially help your country? Or would you think of how finding this oil could harm the environment, or furthermore the political aspects the oil may have. This is a struggle that Canada may have to face. The three main aspects of the oil struggle are the research, the reward, and the result. One question most people would over look in this situation is where would you start?

Canada has a large stake in the international oil market. It is currently the 6th largest producer of crude oil and last year the Canadian oil industry produced 3.8 million barrels of oil per day (Canadian Association of Petroleum Produces, 2016). Since oil is a significant part of the Canadian economy, fluctuations in the international price of oil will affect all Canadians. However, due to the fact that some provinces produce more oil than they consume and others consume way more than they produce, the impact of a significant increase in international oil prices on Canadians will be dependent on which province they reside in. More specifically an increase will positively impact the economic welfare of Canadians living or operating in resource rich provinces but will have a negative impact on the economic welfare of Canadians living or operating in

Alberta’s oil and gas industry is a major necessity to the economic well being of the Canadian nation as a whole. This can be clearly seen with regards to the federals governments Equalization plan in which Alberta has not received a payment since the 1960’s. Although the oil and gas industry is detrimental to the environment, it is a necessity to the life the majority of Canadians take for granted and the notion that we can simply turn off the oil spigot and turn to natural resources without detrimental economic and societal impacts is unfounded, unrealistic, and without logic.

United States –Saudi Arabia trade relations have grown significantly because the policy and trade challenges

In 2001, when the world trade center was attacked by Osama Binladen, everyone in the country could see that there were going to be some very serious predicaments with Iran in the upcoming years. So far, what we have been seeing from Iran poses quite a threat to this country, like the amount of oil Iran controls, nuclear weapons, and the conflicts Iran has with other countries like Israel. I would like to give out some general information, and let you know my opinion on these matters stated above.

Saudi Arabia has an economy that is largely dependent on oil, with the government maintaining the biggest control over the country 's significant economic activities. Saudi Arabia owns about 16% of the global oil reserves and is the number one exporter of oil (Saudi Arabia, 2013). In addition, the Kingdom of Saudi Arabia was instrumental in the formation of the OPEC (Organization of the Petroleum Exporting Countries) group, which initially comprised Iraq, Venezuela, Iran, Kuwait and Venezuela (Energy indicators, 2004). Currently, the petroleum industry constitutes about 80% of the country 's budgetary incomes; about 40% of the country 's GDP and 87% of Saudi 's export earnings. Agriculture, in addition to petroleum products, has been a major contributor to the kingdom’s economy since 1970s (Saudi Arabia, 2013). The country has been able to produce enough agricultural products for their consumption as well as surplus for exportation to the GCC member countries.

Saudia Arabia is the largest producer and exporter of petroleum products. (Economy Watch, Retrieved 2017) Petroleum products include many different things: fuels, asphalt and road oil, and feedstocks, which are like plastics and other things that we use in our daily life’s. (EIA, Retrieved 2017)

Saudi Arabia has an oil-based economy. Shipments of oil account for 87 percent of total exports and for 46 percent of GDP. In recent years, in order to diversify the economy, the government has been investing in telecommunications, petrochemicals, natural gas exploitation and power generation sectors.