My essay will be looking at whether resource prices are rising or falling. In my essay, I will conduct a deep research into the root of this problem around the world. Through this research it will be easy to establish the solutions to this problem which is not healthy to the economy (Neumayer 68). The research will be conducted through; closed questionnaires, data analysis and use of internet research which includes the use of World Bank and IMF data.
Just to take a preview of the essay topic, the history of this problem is from the recent drop in global oil prices that has seen prices of oil per barrel drop to an all-time low price. The global drop in the prices has been attributed to the changes in demand for oil which does not explain the sudden drop since the economic model suggest that the oil countries cartel form an oligopoly. The essay will conduct an elaborate coverage of this issue to come up with a desirable solution that will assist every person.
The essay research topic is important as it seeks to find a solution to a problem that could have serious economic impacts on countries around the world. Regardless of the natural resource, when the problem persists, there will be unemployment which will result to economic instability. The research will involve data collection which will be comprehensive through both secondary and primary sources. Collected data will be analyzed and a final report on the research will appear on the project paper. The research is thus important to everyone since in one way or another, natural resources are consumed by every person in the world.
Work Cited;
Neumayer, E. (2013). Weak versus Strong Sustainability. Edward Elgar Publishing.
Kronenberg, T. (2007). Reconciling Environmental Conservation with Economic Prosperity: The Feasibility of Double Dividends in the Short and Long Run. Jülich: Forschungszentrum, Zentralbibliothe.
Carollo, S. (2012). Understanding oil prices: A guide to what drives the price of oil in today's markets. Chichester, West Sussex : Wiley, a John Wiley & Sons, Ltd
Kachel, M. J. (2008). Particularly sensitive sea areas: The IMO's role in protecting vulnerable marine resources. Berlin: Springer.
Ochola, W. O., Sanginga, P. C., Bekalo, I., & International Development Research Centre (Nairobi), (2010). Managing natural resources for development in Africa: A resource book. Nairobi: The University of Nairobi Press.
Verdière, M. C., Perret, C., Weber, R., Brito, J., Sahel and West Africa Club., & Organisation for Economic Co-operation and Development. (2009). West African perspectives: Resources for development. Paris: OECD.
