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How many oil companies are there in the world and how many of them are efficient?
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International oil prices are determind by?
Oil prices everywhere are determined by supply and demand through a market exchange like the NYMEX. It is done similar to how stock prices are done. When the supply is high relative to demand, people bid lower for a barrel of oil, when the demand is high relative to supply people bid higher for a barrel of oil. Speculators can also play in this game bidding up the cost of a barrel of oil. Interestingly enough, far too many people blame the oil companies when prices are high. While this can be partially true, since oil companies can withhold supply from the market, it generally does not hold true because there are many many different places where oil can be retreived. The supply of oil to the market can also be determined by the price. Oil companies will only supply so much oil at a given price before they will not supply any more unless the price is bid higher. Where the bid price equals what the oil companies are willing to supply you have an equilibrum price.
Which of these companies merged approximately forty other companies to form a monopoly?
Standard Oil
Where does the US gas companies purchase their oil from?
Venezuela
Why did the price of oil increase in 2011?
In the current year, 2011, we have seen many mass uprisings in the oil-producing Arab world, including a civil war in Libya that is still taking place. This causes some disruption of oil exports, and some concern about the possible effect on future oil supplies. Even if there is no actual oil shortage, nervousness about oil supplies is enough to drive up prices. Or for the more cynical explanation, greedy oil companies will use any excuse to gouge the public.
Would oil drilled offshore the US belong to us or to the oil companies?
The drilled oil belongs to whoever owns the specific oil rig.
Where are the headquarters of the Shell Oil Company?
The Shell Oil Company is one of the largest oil companies in the world. It has many locations worldwide with its US headquarters located in Houston, Texas.
What does big oil mean?
When someone says "big oil", they are probably referring to the major oil companies in the world. Big oil companies are BP, Shell, and Conoco/Phillips.
How long more will oil last for?
There is enough oil in the ground to last for about 10 years unless new technology is invented. There is enough oil tied up in oil shale to last for many centuries when an efficient way of extracting it is discovered. There is enough oil tied up in the oil sands of Canada to provide for the needs of the world for a century if a more efficient process of extracting it is found.
Is oil and petroleum use efficient?
Oil and Petroleum use is very efficient.
Where do the oil companies buy their oil?
They don't buy the oil, they drill into the ground. That is how the world will soon end as we know it.
How many oil companies in Saskatchewan?
ten
What companies have an oil recycling program?
There are many companies that have oil recycling programs available. One would be able to find oil recycling programs at companies such as NAPA, Pep Boys, or Jiffy-Lube.
How many oil companies get subsidies?
500 oils
Which oil companies are the most powerful the world?
The worlds most powerful oil companies are Exxon and Royal Dutch Shell. Exxon has long been one of the most, if not the most, profitable companies in the world, and Royal Dutch Shell is one of the most highly respected companies in the United Kingdom.
How many shareholders does Exxon have?
It is estimated that there are over 1 million shareholders for Exxon Mobil. This has made it one of the largest oil companies in the entire world.
What type of business makes oil?
Oil companies usually explore and distribute oil across the world. Check related links for a whole list.
What is the difference between 5w-30 and 10W-40 engine oil?
The 10W 40 oil is thicker and is thought by many to be more efficient.
