The Future of Airline Operators amidst the Oil Crisis Essay

The Future of skyway Operators amidst the Oil Crisis - Essay ExampleTheories abound the origin of oil colour color, and like other forms of fossil fuel, is believed to have vex from ancient animal and kit and boodle remains that was buried under soil and mud through a very long period of time and settled down into the Earths encrustations. The buried ancient animal and plant matter piled upon the Earths crust and eventually compressed and heated by the Earths immense internal pressure and temperature. The oil then seeped through the rock layers forming reservoirs, well-nigh of which be found in desserts, ocean bottoms, ice layers and umteen other external terrain formations (Wikipedia, 2006a). These oil reservoirs are being harvested right now by countries that were fortunate generous to have an oil reserve in their midsts, particularly in the Middle East where the most riotous oil reserves are found. These countries now form the organisation known as OPEC (Oil Producing a nd Exporting Countries) which controls most of the worlds oil supply and prices. While it seems like the supply of oil is unlimited it is not, the supply of oil is commencement to dwindle. ... d was way cheaper back in the period of the World Wars it was at these period that oil was lock in abundant and conflicts on the price and supply of oil were non-existent. The OPEC was not founded yet and inflation was not in any case much prevalent back then. Brandly (2004) the current oil crisis is predicted by Hubberts Peak (or Hubberts model or guess as some authors put it) which states and assumes that oil is non-renewable and that even though organic matter is currently added to the Earths crust and that the rate of decomposition and conversion of this organic matter into crude oil will not hear up with the worlds demand for oil. The peak in Hubberts Peak refers to the highest point of oil production at a authentic area which will be soon followed by a sudden drop leading to a cris is. According to those who believe in Hubberts theory, the world is now at its peak and is nearing another major oil crisis not because of political conflict but mainly due to a real short in oil supply. In a National Geographic article written by Appenzeller (2004), oil companies are now putting more human and financial resources in finding new oil sources. It just means that the actual crisis is happening not after the 1st drop of oil has been extracted but or else in the present when oil production is at its peak. The world is predicted to run out of oil in about 5 to 30 years from now. The oil shortage will not only pertain transport and power generation, but also other factors as Amos (2004) reported, stating that oil process will modify birth rates, food prices and other commodities. This is especially true with Third World countries where the price of oil on the world market affects the basic commodities. Amos (200) points out that the economic depression will force peopl e