Oil Price Fluctuations Case Study Example | Topics and Well Written Essays - 3000 words

Oil Price Fluctuations - Case Study Example During 2008 world witnessed the growth in the prices of crude oil reaching a new high threatening the world economy at large, thanks the financial crisis, the recession has brought it down again. It may be exaggerated that increase and decrease in the oil price effects the world economy which is makes it necessary to study its impact on the world economy and how it effects the alternative energy resources. OPEC reports that the recent surge in the oil prices occurred at the time when there was absolutely no shortage of oil at all. The price upsurge accompanied with volatility has been recognized in all commodity groups including energy, metal or agricultural products with prices doubled since 2005. OPEC reports that it has increased the supply of crude oil by 4 mb/d since 2003 and further increased it by more 1 mb/d with absolutely no shortage of crude oil in the market. (World Oil Outlook, 2008)1 Many elements have led to this volatility in crude oil prices. Keeping aside the demand and supply elements, fluctuations in the dollar value has been the main cause for increase in the prices of crude oil. ... Some factors that have helped the price upsurge include US occupying Iraq, Saudi Arabia being attacked by terrorist temporarily affecting oil supplies, speculative investments by financial investors.3 Decline in OPEC's Surplus Oil Production Capacity Increases in global demand for the crude oil have forced the oil producing nations to produce more crude oil in order to meet the demands. The above figure shows that there has been drastic decline in the oil production of OPEC countries; this demand/supply factor is the main reason for increase in crude oil price touching $140 per barrel.(Hiromi Kato, 2005)4 As per the BPs Statistical Review of World energy for the year 2007, it is revealed that demand for the world touched 83.7 million barrels/per day or 3.9 billion tons/year which is equal to five times the annual household water consumption. The above figure shows that the increasing demand has led to upsurge in crude oil price which rocket from mid 2005 till 2008. As per the figure, oil price didn't had any upsurge till late 2000 but due to increased demand in Asian countries, the crude oil price escalated. Trends in Oil Prices Roncaglia using Hotelling theory explains that the equilibrium price of the scarce resource net of extraction costs rises over time at the rate that is equal, year after year, to the interest rate.5 It is understood from this statement that price of the scarce commodity increases at the rate year after year with the added interest rate. The crude oil is an important ingredient in the growth of world economy. It is learnt that commodity traders are responsible for oil prices who bid on oil futures contracts by looking into current supply of oil in terms of output, oil

Statistical genetics Term Paper Example | Topics and Well Written Essays - 1250 words

Statistical genetics - Term Paper Example Genetic association assists in finding out if a trait associates with a genetic variation. Statistical exploration of the responsible factors helps to accomplish the objectives. Ideally, genetic linkage is a characteristic of proximal location of genes on a chromosome to cause group inheritance. There is a less likelihood of separation of genes located together. Scientists use linkage maps to determine the position of genetic markers or genes relative to one another. Newton Morton developed a statistical test, LOD score useful in linkage analysis. LOD scores relate the likelihood of finding test data in case there is a linkage in the loci (Posthuma 175). Linkage analysis falls into two groups namely parametric and non-parametric. Parametric analysis adopts that models unfolding the maker and trait loci are well known without any error while the nonparametric analysis makes diminutive axioms regarding the trait model or simply put, it ponders all pedigree information. Linkage disequilibrium is used to describe DNA recombination. Generally, linkage concerns the physical segments of the genome that gives characteristics to a given trait. Various statistical methodologies have been useful in detecting genetic variation and analyzing genotype data. In the recent years, scientists have come up with high quantity genotyping technologies that are cost-effective and assist in understanding the genetic basis of phenotypes of interest. The presence of many SNPs has facilitated the success of statistical genetic studies. The first step in gene mapping used to be linkage analysis (Lin & Hongyu 103). SNPs that have close relationship as far as proximity is concerned can easily co-segregate as a result of linkage disequilibrium. Association mapping is based on theoretical allelic association, which has been more apparent in recent years. The two main approaches that scientists use to map genetic loci are association and linkage analyses. Factors that are

Definition of law Essay Example | Topics and Well Written Essays - 4000 words

Definition of law - Essay Example If the sovereign or its laws are illegitimate then do their sanctions imposed on individuals or groups who do not comply with the laws, legal In examining cases where the legitimacy of the authority is left in doubt, we must determine whether the authority's legal system and laws are morally justified in making the laws or whether they violate human rights in objectionable ways. All countries create and adhere to their own rules of law when punishing offenders. In many cases, appropriate punishment is dealt for the severity of the crime committed. The more brutal the crime, the harsher the punishment. But there are nations that impose extreme retribution for even minor misdemeanors, China being a case in point. Each year thousands of Chinese citizens are put to death for petty offences. Many are carried out in secret and thus go unreported. Exactly what criteria nations like these employ to deal out this kind of punishment is a question that compels the investigation of different kinds of laws that operate on a society. Law of nature deals with morality and the theory tries to recognize a moral compass to guide in the creation of laws (Wikipedia). Usually feelings and notions of what is right and wrong are the underlying principles governing natural law. This could vary greatly depending on various interests. In the case of the countries forming the European Union which signed the Second Optional Protocol, these nations abolished capital punishment. The natural law here has prevailed and won over hearts and minds of leaders and lawmakers into agreeing that capital punishment is wrong and should be eradicated. In nations that retain capital punishment, natural law has not taken roots in governance. Natural law decrees that anything morally 'right' is law and anything 'unjust' is not a part of natural law. Theorists say that punishment carried out without the use of natural law will be judged by 'higher powers' - that divine retribution will take its course. Natural laws gain respect and credibility when they meet certain requirements such as being impartial and existing in the realm of public knowledge. Without these fundamental requirements the laws are less likely to be recognized or treated with much regard. Legal positivism or positive law is law that can be changed or updated depending on circumstances. For example abortion can be legal today but illegal tomorrow (Wikipedia). Cigarette advertising may be permissible today but prohibited tomorrow. Alcohol can be banned in world cup football venues to prevent hooliganism but not at local football events. There are many advantages with flexible laws. They can be adapted depending on the circumstances and needs of society at any given time. Newly elected governments placed in office can relax some laws but enforce other existing ones. On the internet, most websites have a 'terms and conditions' or 'terms of use' clause. These may be modified over time to keep up with changes made to the site and also either curtail misuse of the site or, encourage users to take advantage

Human Resources Management Journal summary and analysis Research Paper

Human Resources Management Journal summary and analysis - Research Paper Example The article discusses that the mechanical failure was not attributed to the product design, onboard computers or faulty machines but the failure occurred due to the inefficiency of the employees. The employees failed to perform as per the expectations of the managers. Factors like improper training and faulty mechanization process were also the cause behind the product failure (Sullivan, 2010). The root cause of the error caused by employees, which led to the corporate catastrophe, could be the result of faulty human resource process. The employees at Toyota had received improper training for the particular assignment. Toyota follows the four step cycle which includes plan, do, check and act but clearly in this case the manager did not focus on the last two phases. The training to the employees was not effective and moreover the managers and the employees were not ready to take the accountability of the fault. Improper training and development can decrease the employee performance an d have a negative impact on the employee behaviour. The managers of the Toyota should have taken the accountability for the incident and conducted a review meeting with the employees responsible for the product design. If the managers of the company had taken responsibility and apologized publicly then the brand image would not have been tarnished to a large extent. The managers of Toyota should conduct a meeting with the car design team and the engineers of Toyota for their new car model. The management at Toyota should lay emphasis on two key elements like scrutiny of design and ensuring that the employees have thorough product knowledge. Article 2 Figure 2: Wal Mart Gender Biasedness Incident (Source: Biskupic, 2011) Summary The article focuses on the gender discrimination faced by the women employees working in Wal Mart. The women employees of USA had filed suit against the company in April, 2011 claiming that the management of the company promoted the male workers at a less sen iority position over the women employees at a senior position. The women employees even claimed that they were paid less and were denied promotions. It was also pointed out that the women employees were denied training which would help in advancement in their career (Biskupic, 2011). Analysis Discrimination by an employer on the basis of the gender is not only unlawful but promotes negative working environment. It is one of the crucial contemporary human resources challenges faced by most of the organizations. In the year 2004 it was claimed by an US district judge that there were disparities in the payment of the women and men employees working in WalMart. Gender discrimination not only promotes a negative and hostile work environment but also reduces the employee performance. WalMart should have clearly communicated the human resource policies designed for women employees and also addressed to their needs and demands. The management of WalMart should have implemented policies for the betterment of the women employees like prevention of discrimination at pay, sexual harassment and offensive behaviour (Lepak, 2009). Implementation and clear communication of the human resource policies for women would not only help the women employees to increase their organizational commitment but would also promote a congenial work

Computer Forensics Research Paper Example | Topics and Well Written Essays - 2750 words

Computer Forensics - Research Paper Example The intention of this study is computer forensics as a way of searching and analyzing data stored in computers and other electronic media. Computer forensics aims at forensically examining digital data in order to present facts and opinions concerning the information gained. It is a relatively young forensic science when compared to the other forensics. The process has been highly misunderstood both in meaning and application. Computer forensics is commonly used to refer to the analysis and reporting of the information collected from the forensic analysis of digital-related media. It is a procedure which has been used for as long as computers have been in use. In recent years, cases of computer crimes have been on the rise. This has necessitated the adoption of computer forensics as a way of trying to nab criminals over the internet. The spread of computer related crimes has risen as the use of computers increases. In the modern world, almost all people use a computer to perform a du ty within the course of the day. People have fallen victims to computer crimes as computers are considered to be safe. Installation of security software in computers has not been able to prevent some of the crimes occurring in the cyberspace nowadays. However, this alone cannot be enough to protect data from access by unauthorized persons. There are numerous cyberspace crimes commonly occurring in modern times. The range of these crimes keeps increasing as technological advancements continue to set in. Online frauds Online frauds have become a common form of computer crimes. There have been a rising number of stock scams instigated by criminal traders over the internet. The effects of these frauds have been adverse on the business world. People have been tricked by conmen online posing to be selling items. Once payment has been done, the delivery of goods bought fails to occur. In the stock market scams, the prices of stocks have been affected by frauds carried out online. These fra uds can happen to any company, and there is a need for companies to ensure they protect themselves from possible fraudsters. Hacking This can be termed as the process of illegally accessing protected information in a computer system. It has become a common problem in the computer security framework (Thomas, 2002). Though efforts continue to be made to curb the problem, new technologies keep on being created by the hackers. The problem of hacking has been extensively linked to numerous security system failures. Hacking into national security systems has been identified as a commonly employed tactic by terrorists. When an individual hacks into a company server, he can be able to alter the information contained in the server. Virus These can be defined as programs created to maliciously

The Decrease in the APE, a Decrease in the ASF and a Sudden Rise in Essay

The Decrease in the APE, a Decrease in the ASF and a Sudden Rise in GDP Demonstrated Graphically - Essay Example A demand shock - fall in APE In the diagram above, we consider the effect of a fall in APE. The immediate response from businesses is to wait to see if the APE returns to its initial height. When it does not, the output-price adjustment process is initiated which leads to falling prices, output, employment and profits until the equality between GDP, ASF and APE is restored. The fall in output and employment however will continue until prices and profits return to their initial levels. Next consider the impact of a decline in ASF. The initial funding adjustment will manifest in the form of a sharp rise in interest rates. Figure 2: Impact of fall in ASF - money and credit caused recession The following output-price adjustment process like the earlier case will involve drops in output, employment, interest rates, prices and profits until GDP=ASF=APE. Output and employment will continue to fall until profit and prices rise back up to their initial levels. At the end of the coordination procedure, output and employment will be down while interest rates will be up but prices and profits will be restored to their initial levels. Finally, consider the impact of a rise in GDP. The initial impact will be a rise in interest rates. Then, as the producers react to insufficient demands, output and employment will fall back to the initial levels. But this situation wi ll lead to a demand caused recessionary scenario which stimulates the coordination procedure described in the first case in this chapter. ... The APE line shifts out leading to excess demand which in turn leads to a rise in interest rates. However, since ASF is unresponsive to interest rate changes, this rise in interest rates will have no impact on ASF and i continues to rise until it reaches i1 which signifies the new equilibrium interest rate since at this rate, the entire rise in APE is crowded out and we once more have the equality. The opposite mechanism would have been triggered in case of a negative shock to APE hitting the system. This is shown in the diagram below. Figure 5 Thus, we see that a shock to APE only leads to a movement in the interest rate in the same direction while GDP, employment and prices are left unchanged. Thus, the classical doctrine implies that interest rates are flexible enough to accommodate for any shocks to APE such that movements in the interest rate absorbs the full brunt of the shock and GDP, employment and prices are left unchanged. Next, consider the impact of a shock to ASF. This i s shown in the diagram below. Figure 6 In this case it is actually the price level that responds while all other aspects remain the same. Interest rates change initially but they are restored back to the initial levels as price adjustments take place and the ASF line is restored to its original state. It is pertinent to note that imbalances between the aggregate demand and supply of output was assumed to be cured entirely through price adjustments since the classical economists believed that businesses maintained a particular level of output and profits which remained fixed so that whenever this level of output exceeded or fell short of funded demand, price adjustments would take place which increased or curtailed the

Throughout Ken Keseys tremendous novel Essay Example for Free

Throughout Ken Keseys tremendous novel Essay It is another meeting though with McMurphy which causes the most drastic and evident change to Chief Bromdens character. In the midst of a bed time conversation with the Chief, McMurphy gives him a packet of chewing gum, the Chief replies Thank you. The chief then goes on to state this again. This comment from the Chief can be taken in two separate ways; metaphorically the Chief has said thank you to McMurphy, but, on the other hand he has thanked McMurphy for the allowing him to open up and talk and realise that he is not, in fact, insane. As well as that, it also shows how all along McMurphys inclination about the Chief was right. During that night time conversation with McMurphy the Chief talks about how small he is, demonstrating how the combine has affected him. Youre lot bigger, toughern I am. McMurphy then replies, You stand a head tallern any man on the ward. There aint a man here you couldnt turn every way but loose, and thats a fact! The Chief then dismisses this comment No. Im way too little. I used to be big, but not no more. Youre twice the size of me. This repetitive negative, Not no more, illustrates how he feels negative towards himself too, and how broken a man he is due to his time spent in the combine. McMurphy realises that, with the size of the Chief, he could use him to lift the control panel which he hadnt been able to lift at the beginning of the novel. He begins to build up the chiefs morale by complementing him in a descriptive metaphor, giving an image of how life will change for the good, Oh man I tell you, youll have women trippin you and beatin you to the floor. He offers him a free place in his special body-buildin course, and as McMurphy walks down the hall to sign the Chief up for the fishing trip he pulls the covers off him and states Look there, Chief. Haw what did a tell ya? You growed a half foot already. This again is used by McMurphy to build Chief Bromdens self image. Due to the character building of McMurphy and the Chiefs ability to find the cause of his illness he grows into a new man, a man able to be rebellious and able to pull away from the tight grasp which the combine has upon him. This point of rebellion expresses the Chiefs refusal to mop the hall. They stuck a broom out for me to do their work up the hall, I turned around and walked back to the dorm, telling myself, the hell with that. This emphasises the change in Chief Bromdens character as he is now confident enough to refuse duties from the black boys. This alliteration in the description of the boys is used extensively throughout the novel, emphasisng there colour, in 1962 (when it was first published) there was a lot of racism, white people were far more superior, and also their age, showing how even boys are running the institute, telling the white men what to do. But the main change to the Chief is his ability to laugh. I could look down and see myself with the rest of the guys and watch them, us, swinging in laughter. This is an effective use of imagery, as this metaphor emphasises how the Chief has grown mentally stronger as a man, as earlier on in the novel he states, You cant really be strong until you can see the funny side to things. His mental strength is illustrated through his physical strength in the shower room. So I picked him off and threw him in the shower. He was full of tubes; he didnt weigh moren ten or fifteen pounds. Demonstrating how McMurphys plan of making the Chief grow back to his real size is working. The character of Chief Bromden develops even further as when he notices a fog being produced by the combine and refuses to, slip off and hide in it. No never again, as he knows, this time I had them beat, thus emphasising how he has nearly recovered from his sickness. Finally the Chiefs transformation is complete, when McMurphy comes back down to the ward after his lobotomy the chief kills him out of compassion and escapes by throwing the control panel at the screened window. After the lobotomy, McMurphy states that he cannot do things like he used to, hobbled like this, the metaphor highlights that the institute has now got total control over McMurphy, even though he is not literally hobbled, as in cannot walk properly, he cannot think for himself, is a vegetable, he is hobbled. However though, the path the Chief ventures out on after escaping from the hospital is the same as the ill fated dog took earlier on in the novel when chasing a goose as it met the oncoming headlights of a vehicle, thus emphasising the battle between animals and machinery and how machinery will always win. In conclusion Chief Bromdens character develops extensively through out the novel from being a fully fledged member of the chronics to conversing with McMurphy and even going on a fishing trip with the other patients. As the novel develops the Chief grows back to his original size, commits an empathy killing on McMurphy to save him from the life of a chronic and escapes from the grasp of the combine. However, the reader is left in a state of uncertainty at the end of the novel as they are unsure whether the story is being told by the Chief as a free man out with the hospital or if the combine have taken him back into their tight grasp and he is telling the story from recollection to another inmate. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Ken Kesey section.