Oil and Gas Prices Essay Example | Topics and Well Written Essays - 1500 words

Oil and Gas Prices - Essay Example History has been riddled with many incidents of oil price increases due to conflicts and fighting between and among countries. Emily Witten (2008) documents the history of oil price increase and is hereinafter summarized. In the 1970s, oil price increased to as much as $46 a barrel when the OPEC imposed an embargo on the U.S. and its allies for the latter’s support of Israel in the Yom Kippur War. In order to keep up the high prices of oil, the OPEC even decreased oil production. In 1978, when the Shah of Iran was deposed from power and a radical Islamic government was installed, oil prices rose to $42. In the 1980s, oil prices decreased as many Western countries made an effort towards conservation, however, these efforts were thwarted when Iraq invaded Iran and oil prices rose to $86 per barrel. Following the September 11 terrorist attacks in the United States, oil prices increased from $21 to $26. The U.S. invasion of Iraq in 2003 sparked another increase in oil prices from $32 in 2004 to $60 in 2006. Interspersed in these oil price increases were efforts towards conservation and peace which noticeably settled or decreased oil prices. However, the trend became clear, whenever there were conflicts between nations, oil prices went up. In the case of Colombia, oil facilities have been under constant threat of attack by guerilla groups in the region. Attacks on oil installations and civil conflicts in the region have made oil-importing countries like the United States concerned about oil supplies. These oil importing countries opined that â€Å"attacks on energy infrastructure in Colombia, and especially the implications of Colombian instability for the broader energy-rich Andean region, pose a threat to a key source of oil supplies† (Dunning & Wirpsa, 2004). These conflicts, in the light of the September 11 attacks on American soil gave license to the US to

Examination of a Journal Article Essay Example | Topics and Well Written Essays - 1500 words

Examination of a Journal Article - Essay Example Finally, a comparison of the Packman et al study shall be made with two other research articles that have investigated the psychology of personality in regards to ethnic groups. Packman et al (2005) undertook their research in light of the lack of literature investigating personality difference between ethnic groups in New Zealand, especially in regards to employment selection procedures. They stipulate that empirical study of personality traits has been ignored as compared to cognitive differences between ethnicities. It is of concern to Packman et al that personality assessment data pertaining to ethnic differences has been ignored because: A personality assessment is considered to produce an adverse impact when the individuals of a specific demographic group are less likely to be selected for employment than individuals of other demographic groups (Cook, 1998 as cited in Packman et al., 2005 p. ). Further, Packman et al. state that personality differences can add to findings of cognitive differences and so provide more depth of information of potential employee's suitability for job performance. The article of Packman et al. had several main points. ... At present, theories, models and assessment procedures of personality tend to be ethnocentric, in that they are based on the English language and oriented for a Western culture. Hence, there may be a lack in the ability to generalise personality assessment across ethnic groups.A dominant theory of personality within psychology is the Five Factor Model (FFM), commonly referred to as "The Big Five". The five factors are Neuroticism, Extraversion, and Openness to Experience, Agreeableness, and Conscientiousness. The two global personality traits of Conscientiousness and Neuroticism have been consistently identified as strong predictor of occupational performance (i.e., a high score on the Conscientiousness trait and a corresponding low score on the Neuroticism trait). Hence, significant ethnic differences on these two traits may increase the likelihood of adverse impact during the employment selection process.Cross-culturally, analyses of descriptions of personality in languages other t han English have identified five factors similar to that of the FFM. However, cross-cultural factors rarely correspond to the original English five factors, and this is likely due to socio-environmental influences during lifespan development, and subsequent differences in language semantics. So that even though a five-factor personality structure can be replicated across ethnic groups, it does not support or negate that various personality traits are equivalent across cultures. Bearing this in mine, research has found that there are significant differences across ethnic groups on personality traits. Packman et al. hypothesised that significant differences would be found across ethnic groups of New