What Is the Impact on Airplane Pilots Work Hours and Stress on Flight Safety free essay sample

Accuracy means something to me. Its vital to my sense of values. Ive learned not to trust people who are inaccurate. Every aviator knows that if mechanics are inaccurate, aircraft crash. If pilots are inaccurate, they get lost—sometimes killed. In my profession life itself depends on accuracy. † –Charles A. Lindbergh Accuracy includes precision, if you aren’t paying attention how will anything ever be exact and precise? The time pilots spend behind the controls of an air craft can be anywhere from one hour to fifteen hours. The first and last twenty minutes of a flight are the most dangerous and stressful time for pilots, take-off, taxiing from gate to runway and back and touchdown. After fifteen hours of concentration the pilots usually won’t have enough energy to safely land the plane. So what is the impact on airplane pilots work hours and stress on flight safety? Pilots get stressed after fifteen hours of flying this is without any other factors that distract them from work. We will write a custom essay sample on What Is the Impact on Airplane Pilots Work Hours and Stress on Flight Safety? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The article Air India Pilots Threaten Indefinite Strike tells about the hardships of many pilots in India. A large number of our members (pilots) have informed us that owing to the psychological stress that they are under and bearing in mind the safety of passengers; they will be unable to operate flights on and after April 1st, until the management clears all the dues. † (Indo Asian News Service) They later state, â€Å"Many have taken loans for their flying training, other share commitments to their parents and children, and many have complained that banks are hounding them to repay their loans. † (IANS) This shows that the people who are flying planes have other things that are also on their mind. Preoccupied, stressed out about problems at home won’t help with the problems of paying of the loans of their training. Airlines should make a conscious effort to help out pilots so they don’t have to be stressed with outside things while on the job. â€Å"Family first† a common cliche used in the world, this would explain why many pilots complain about family troubles while at work. The European Union is trying to help airline pilot. They are trying to reduce pilot’s hours from 15 hours to 14 hours at daylight and 12 hours at night. Alex Derry) The European Cockpit Association Wants still more of a reduction on the number of hours that the pilots can work. (Alex Derry) The work hours are not the same numbers of hours they are sitting at the controls. They usually work be between 8 to 15 hours a day and only 13 to 6 are actually behind the controls of the aircraft cockpit. The hours are 1 to 2 hours more for work but still create stress on the pilots. The United Kingdom currently leads the way with the least amount of time pilots can fly continentally. Their regulations allow for the maximum hours a pilot can fly to be 10 hours and 15 minutes. They are trying to get an exemption from the European Union’s vote so that they can feel their pilots are safe. It is great to see the number of countries that turn their heads to be aware of this increase. Then there are nations like Britain already passing laws to limit hours on already existing regulations. Then there are also countries like the United States that are doing research to test the limits of the human body that the world can then use. Additionally an interview by Denmark’s Politiken a pilot explained how he flew even though he felt unfit to fly as well as fatigued. The pilot comments, â€Å"I thought that I should declare myself unfit, but flew nonetheless, during the flight, I made a lot of small mistakes, but luckily nothing happened. † Many pilots feel that they will lose their job if they don’t show up to work because they are sick. A law was actually installed to make sure pilots didn’t fly if they felt unfit to fly. Still in a survey taken in 2010, 61 pilots were asked if they had piloted an aircraft when they had felt unit to fly, 80% said they had and they felt pressured to do it. Another 34% said they had flown unfit five times in the past five years. (Alex Derry) If the passengers in the plane had known this they might not have flown the plane that trip. It’s a daunting thought that as you sit in the airplane your pilot may be sleeping and you would never know about it. The ICE (Inter City Express) trains in Germany have installed petals that must be pressed every minute to 30 seconds otherwise the train will shut off automatically. Something like this maybe a good idea on planes to make sure the pilot or the co-pilot stays awake. This could also help air traffic controllers and the Federal Aviation Administration see and curve the amount of planes where pilots fall asleep. So the question arises, why do the pilots feel pressured? Workers for many airlines are under constant strain of work because or the budget cuts within the company. (Eastern Worker) Often companies seem to not acknowledge that they make their employees work so hard. What makes the company pressure the pilots? How the companies have handles the rise of fuel prices is by cutting personnel, meaning the people who are left need to work more hours to fill the spots of the people that left. To create a scenario, you fly from Gainesville to Charlotte and back two times every day. US Airways decides they don’t have to money to pay another pilot and you receive their hours too. Now you will fly back and forth four times. The time you now get to spend with your family has been decreased so you worry more about what is happening at home and you get less free time so you get less time to rest. So another pilot gets dismissed so US Airways has you running the max hours they can every day for regional flights, 10 hours. This means you spend every second night in Gainesville and one in Charlotte, unless there is an open seat on the returning flight. It is easy to see how the company can make it so the pilot could be so stressed about his or her work. A story by the Eastern Worker tells of a tragedy that occurred from lack of sleep of an Air India pilot. On May 22, 2010 a flight from Dubai to Mangalore killed 158 passengers and crew and left only 8 people alive. The pilot was suffering from â€Å"sleep inertia. † He fell asleep and didn’t wake up until the plane was on its decent. When he reached the airport’s landing strip he only had 244 meters left, he had over flown the other 2,156 meters of runway. The plane ended up hitting a wall and sliding into the adjoining valley. The black box which contains vital flight information was found and they heard cockpit noises of deep snoring and heavy breathing and an argument after touchdown whether or not to take off again. (Eastern Worker) Eliminating arguments between the captain and the co-pilot could have saved the plane but then it would depend who is right the pilot isn’t always correct. As the plane needs a certain length of runway to safely land this should be the overall determiner to whether or not the plan could land. This is an extreme case of what can happen. The pilot fell asleep for half the flight and then he wakes up and is disoriented and has a slow reaction time when it comes time to land the plane. Not all cases are like this though. In 2006, the FAA (Federal Aviation Administration) and Delta signed an agreement authorizing Delta pilots to fly 16-17 hour flights between the U. S. and India. Aviation Today’s Daily Brief) These are very long hours of work for the pilots so before they are allowed to fly again they must rest 48 hours before departing on the return leg. This spied lawsuits about how long the pilots must rest the final decision lay at 48 hours minimum to 96 hours maximum. June 2008, the FAA held an aviation fatigue management conference; it was the first event ever that focused on fatigue in all aspects of aviation; whether it occurr ed aboard an aircraft, in the hanger, enroute, or in air traffic control towers. This provided scientists data to work on something. The research shows that relatively little is known about the subtle effects of fatigue on the performance of flight crew during normal long haul flight operations. (Aviation Today’s Daily Brief) The research was aimed to find three big things, to get more current data and information on fatigue physiology, develop common theories about fatigue as well as identify challenges, and finally, make connections to make new moving patterns for goods. This experiment was done using crews of airplane staff and testing their reflexes in real life situations. The were two groups, a rested group that had gotten four days in a row off after a long haul flight and a second group that had just gotten off the long haul flight. Needless to say the group with the four days of no work did better in the scenarios. The simulator they were put in made them fly a normal route with a series of operational threats to create more stress and work for the crew. The results showed the FAA what needs to be worked on to create a better performance while flying long haul flights. The results also showed the little amount we know about fatigue and the affects on humans. So what is the impact on airplane pilots work hours and stress on flight safety? Pilots are impacted by stress and long work hours. The safety of the plane is at risk as soon as the pilot is sleep deprived or under strain. Ususally this is not a problem but in extreme cases it is. I think that airline companies need to put a limit on the number of hours a pilot can fly this should be decided on by research into such things. On the

Nordstroms Anthropologic Analysis of War

Nordstroms Anthropologic Analysis of War Introduction Ethnography is a discipline which is trying to observe and explain human behavior. Nordstrom provides an in-depth analysis of one of the most enigmatic phenomena which is characteristic for humanity: people’s activity aimed at killing each other, i.e. war. In her book â€Å"Shadows of War† Nordstrom observes various people’s lives and considers the war in terms of political, economical, social and cultural peculiarities of different societies.Advertising We will write a custom report sample on Nordstrom’s Anthropologic Analysis of War specifically for you for only $16.05 $11/page Learn More Specific approach of the author enables the reader see every facet of the multifaceted phenomenon, and observe the impact of war on particular individuals and the outcomes of war on global scale. What is more, Nordstrom reveals the line between war and peace and suggests that it is possible to predict violence in a state if to cons ider properly all â€Å"shadows† which constantly appear in all countries worldwide. Nordstrom’s research methods Nordstrom exploits the major ethnographic method, anthropological fieldwork. This research method presupposes â€Å"participant observation† which enables the anthropologist to get a closer look at the processes which take place in the society or community under consideration (Robbins 15). Thus, Nordstrom provides insights into every arena of war, which the author is considering. Nordstrom recreates the atmosphere which exists in countries where people suffer from military conflicts. This approach enables the author to follow one of the anthropological concepts, relativism. Nordstrom provides myriads of examples from everyday life of people exposed to negative outcomes of war. These people are often engaged in illegal operations, but the author providing the real life examples explains that for many people illegal operations become the only way to su rvive (Nordstrom 197). Nordstrom provides long block quotes of people she interviewed. These quotes reveal the picture of the horrible world in which millions of people try to live. It is important to state that the author follows one more principle of anthropology and considers many countries. Nordstrom’s universalism makes it possible to have a more complete picture of the processes which lead to war or peace on global scale. Apart from giving certain real life examples which explain many people’s behavior, Nordstrom also considers all actors taking part in the war, civilians, soldiers, political entities, big companies and other states. This holistic approach enables Nordstrom to consider factors which influence war and peace, or the â€Å"time of not-peace-not war† (Nordstrom 171).Advertising Looking for report on anthropology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Nordstrom’s findings and r esults It goes without saying that holistic approach of Nordstrom makes it possible to have the complete picture and draw quite precise conclusions. In the first place, it is necessary to point out that the majority of Nordstrom findings prove the accepted perception of war, as a phenomenon which is caused by many factors and should be considered from different perspectives on various levels. However, one of the most significant findings of the author is that â€Å"much of what undergirded the assaults took place along shadow channels† (Nordstrom 12). Moreover, the author suggests that if to consider these shadow channels properly it is possible to predict various cases of violence and even wars. For instance, Nordstrom point out that the start of war depends on the fact whether these shadow channels become powerful enough (12). Thus, the author states that it was possible to predict September 11 attack, but the US intelligence failed to take into account numerous shadow chan nels which caused so many lives and nation’s grief (Nordstrom 12). The author provides examples from such countries as Afghanistan or Angola where the shadow channels led to long period of â€Å"not-peace-not war† which transformed in war (Nordstrom 171). Interestingly, these findings are based on the ethnographic observation of people living countries where war has become a norm. Average civilians’ words highlight many of the shadow channels which are the basis of the war. For instance, the talk of Angolan stuff illustrates that economic factors play crucial role in any conflict. The author reveals the simple truth that the war makes some people suffer, but others, at the same time make fortunes. Thus, Angolans point out that soldiers punish people for trading, but sell products themselves: â€Å"More goods than bullets go across the front lines† (Nordstrom 169). It goes without saying that such real life examples back up Nordstrom’s findings abou t shadow channels and their influence on societies and their role in the balance between the war and the peace. Nordstrom research in terms of ethnography Admittedly, such a thorough analysis of one of the most disputable issues of people’s behavior contributes greatly to the overall study. Nordstrom’s ethnographic research not only draws certain conclusions as for causes and effects of the war and peace. The book should be also regarded as a good example of ethnographic approach to the problem. First, Shadows of War provides holistic analysis of human behavior. Nordstrom considers every level of society to understand possible reasons for emerging conflicts and cases of violence. It is necessary to note that there is certain focus on average civilians’ attitudes.Advertising We will write a custom report sample on Nordstrom’s Anthropologic Analysis of War specifically for you for only $16.05 $11/page Learn More Admittedly, Nordstr om relies on the major research method of ethnography, fieldwork. Nevertheless, the results of the fieldwork are put in larger discourse of primary reasons of the war. This enables the anthropologist to obtain important findings which can become an effective tool in violence prevention. Thus, Nordstrom’s research provides a good example of possible implications of ethnographic findings. Apart from this Nordstrom pays much attention to her ethnographic observation. Her interviewees provide the author with precious information which explains human behavior in war time. Reputedly, ethnography cannot take any assumption, e.g. it is good or bad, for granted (Robbins 16). Relativism is one of the most important principles for an anthropologist. Nordstrom does not simply state that people are engaged in many illegal operations. She provides the setting which explains why people behave in this or that way. Nordstrom’s research reveals relativity of good or bad in war time. Suc h a close look at people’s lives is very important for ethnography on the whole. Conclusion In conclusion, it is possible to point out that Nordstrom book is a good example of an in-depth analysis of people’s behavior in terms of major concepts of anthropology. Nordstrom follows such principles of anthropology as holism, relativism and universalism. The book provides the results of ethnographic observation which enable the author to draw more general conclusions about the causes and effects of war. Thus, Nordstrom reveals the shadow channels which are often the basis of numerous conflicts. The most important finding which Nordstrom articulates in the book is that it is possible to predict attacks or prevent the start of war if to consider properly and take into account the shadow channels. This finding makes the book one of those ethnographic books which suggest definite implication of ethnographic findings. Nordstrom, Carolyn. Shadows of War: Violence, Power, and Int ernational Profiteering in the Twenty-First Century. Berkeley, CA: University of California Press, 2004. Robbins, Richard H. Cultural Anthropology: A Problem-Based Approach. Belmont, CA: Cengage Learning, 2008.Advertising Looking for report on anthropology? Let's see if we can help you! Get your first paper with 15% OFF Learn More

Human Resource Management Essay Example | Topics and Well Written Essays - 1000 words - 1

Human Resource Management - Essay Example Likewise, I recognized that as increasing numbers of organizations have joined the globalization bandwagon, more theories and practices in HRM need to be reappraised to incorporate global issues such as culture, virtual teams, telecommunications applications, performance appraisals and leadership (DeCenzo & Robbins, 2006). More importantly and parallel with my field of endeavor, as averred by DeCenzo & Robbins, â€Å"knowing the effect of technology helps individuals better facilitate human resource plans, make decisions faster, more clearly define jobs, and strengthen communications with both the external community and employees† (7). The concepts and theories learned from the modules need to be constantly updated to enable practitioners to appreciate the benefits that HRM accords to the organization. The course has given me the opportunity to learn new insights on the critical functions of staffing and motivational schemes (incentives), as well as, career planning and develo pment. I have learned that the goals of the organization need to be explicitly and clearly stated to enable human resources to exert the appropriate efforts to achieve them. The collaborative strategies designed by leaders and managers of the organizations would only succeed if people are duly motivated to work towards the attainment of these goals. These theories and concepts would help me apply what I have learned in future endeavors through identification, first and foremost, of my personal and professional goals.... HRM applications manifest adapting to the changing environment to survive in the global arena. The concepts and theories learned from the modules need to be constantly updated to enable practitioners to appreciate the benefits that HRM accords to the organization. The course has given me the opportunity to learn new insights on the critical functions of staffing and motivational schemes (incentives), as well as, career planning and development. I have learned that the goals of the organization need to be explicitly and clearly stated to enable human resources to exert the appropriate efforts to achieve them. The collaborative strategies designed by leaders and managers of the organizations would only succeed if people are duly motivated to work towards the attainment of these goals. Further, if there are consistency in the goals of the personnel to that of the organization and society’s interests at hand, the strategies that were effectively designed would assist in ensuring t hat success is ultimately sustained and achieved. These theories and concepts would help me apply what I have learned in future endeavors through identification, first and foremost, of my personal and professional goals. I need to be accurate as to the objectives that I would like to attain, both in the short term and in the long run. In doing so, I will be able to create and design strategies that would assist towards the achievement of these goals. Just like what have been proffered in the activity on designing a staffing plan for an organization, the goals would direct the path and define the strategies needed for staffing, or for any pursuit, for that matter. Planning would entail defining

Liberal market economy Essay Example | Topics and Well Written Essays - 1000 words

Liberal market economy - Essay Example According to Maurice Mullard, there is a linkage between the commitment to liberal democracy and the concept of market liberal economies. The democracy and market economy are linked with each other. In a democratic country, the policy guarantees the people to choose the government. Similarly, the liberal market economy provides choices in employment, consumer products, education facility and provisions of health. The democracy cannot survive without any commitment towards a market economy and the market economy cannot survive outside the political democracy (Mullard, 2004). The liberal market economy has the potential to outperform the capital economy. The social environmental factors of a liberal market economy are highly influenced through the nature of autonomous work of the economy itself (Pagano & World Institute for Development Economics Research, 1996). The US and the UK economies are strongly anti-trust regulations that forbid the firm’s entrance to financial credit an d capital markets that are driven by profitability and expectations of the market. The liberal market economy strongly follows the philosophy of neo-classical economics in which the firms function in a ‘perfectly competitive’ market and are determined by the short term profits (Deller, 2005). The economist Bennet Harrison and David Gordon viewed that the firms in the US and the UK in the liberal market economy reduces the costs to increase the profit margin in the short run. In a coordinated market economy, firms increase the profit margin through the enhanced productivity, technical advancements and labour training methods. The liberal market economy in view to the bankruptcy as a legitimate business strategy differentiates from coordinated market economies. In the US market, firms use the bankruptcy business strategy as an option to negotiate the labours’ and the suppliers’ contract. The best example was the United Airlines that used this strategy and re structured itself in reducing the costs (Deller, 2005). This kind of strategy has become well known for the motive of short run profitability that has increased the gap between the primary and secondary labour market conditions. A study conducted by Dirk Akkermansa, Carolina Castaldi and Bart Losc found out that liberal market economy and coordinated market economy comprise diversity economies that illustrate varied patterns of specialisation and in comparison, they are quite heterogeneous across the industries. The scholars have concluded that the liberal market economy approximately specialises in essential innovations in industries that are related to electronics and chemicals while the coordinated market economies concentrate on transport equipment industry and machinery industry (Akkermansa & Et. Al., 2008). According to Marijana Milic, the liberal market economy follows the philosophy that assists in promoting laissez-faire capitalism, maximum of free trade and competition. Th e liberal market economy provides rights and freedom to every country in order to enhance the development of the economy according to the supply and demand forces of that country (Milic, 2010). The liberal market economy has a representative relationship with the states and offers special treatment to the big corporations in concentration of economic power. This influences the people in general due to the

Communication and organizational performance Essay

Communication and organizational performance - Essay Example The work of management is to facilitate formal communication in all levels of the hierarchy to ensure proper spread of correct data, directives and initiatives so as to raise the output of the firm. Basically, significant announcements, policy changes, information affecting the organization management, rule and procedures are all made available through communication. The management thus uses this vital tool to manipulate understanding and ensure that the employees comply with organizational directives by facilitating both formal and informal communication. The mode and tone of conversation in communication set the boundaries in the firm between the parties. The communication pattern is essential since, through it, most of the goals are met in the organization. Individuals are encouraged to bring out their feelings, concerns and even proposals to the management all of which are achieved through communication. There are various ways and in a different scenario through which the managem ent uses communication to ensure that the goal are achieved. Firstly, in any organization, a proper team is required to meet the activities. In other words, a reliable human resource is normally selected to meet the activities and work in the firm within a period. This requires proper advertising, recruitment and training of the appropriate team and an eventual induction in the office place. The process of recruitment entails setting up job advertisements with specifications so as to reach a wide base and also facilitating a team to select the most appropriate and qualified personnel that will meet the target of the firm. All these processes entail communication between the outside world and the internal parts of the management. To meet the directives of a firm communication is used during recruitment to achieve a strong team that is capable of producing the expected output. Secondly, a brilliant and a clear sense of the organizational direction are essential if the objectives of th e firm re to be met. This promotes the corporate health as it maintains awareness and focus of the core business, purpose, strategies and the visions of the firm. Communication is a tool used to achieve this awareness in the induction process where all employees are detailed on the corporate policies and structure of the firm. Subordinates are informed of the policy changes and information from the supervisors through an efficient channel of communication. If an agency is to maintain high performance in a particular sector, a continuous circulation of information is essential both formally and informally. The middle management level receives information from the top management and communicates this to the low level which reciprocates this to the top level management. Informal communication is also established, and a rapport created in the internal environment so as to create free interactions of the workers. Informal communication is actually essential as it accelerates the flow of information thus speeding up the communication process. However, when this is overused in a firm, it distorts the leadership pattern and undermines the management structure of the firm through too much familiarity (Kuhn, 2008, p.1234). The chain of command thus becomes

Factors That Affect the Market Price of Oil

Factors That Affect the Market Price of Oil THE FACTORS THAT AFFECT THE MARKET PRICE OF A PRODUCT SUCH AS THE WORLD PRICE OF OIL IN THE PAST TWO DECADES. BRIEF: 103737 INTRODUCTION In order to have a good understanding of the factors that affect the market price of a product, one will first need to grasp the meaning of what a market is. A market can be defined as an area over which buyers and sellers negotiate the exchange of some product or related group of products. It must be possible, therefore, for buyers and sellers to communicate with each other and to make meaningful deals over the whole market. Individual markets differ in the degree of competition among the various buyers and sellers. In some cases where the number of buyers and sellers is sufficiently large no one of them will have any appreciable influence on price. This is what is known as a perfectly competitive market. However, for the purposes of this essay we will stick to the concept of a market. Using the table below we will show how the market price of a product (bread) is affected. Demand and supply schedules for eggs and equilibrium price From the table above we can see that the quantity demanded is much higher than the quantity supplied at 110 and 5 and the price is  £0.50. This shows an excess demand of 105. When the quantity demanded is 90 and the amount supplied to the market is 46, we have excess demand of 44 we correspondingly have a market price of 1. However, when the quantity demanded is 77.5 and the quantity supplied is 77.5, the market price for bread is  £1.50. At this point the quantity demanded is the same as the quantity supplied. At such a price consumers wish to buy exactly the same amounts as the producers wish to sell, this is known as the equilibrium price. At prices above  £1.50 the quantity supplied exceeds quantity demanded. Furthermore, the higher the price, the lower the excess of quantity demanded over quantity supplied. The amount by which the quantity demanded exceeds the quantity supplied is called the excess demand, which is defined as quantity demanded minus quantity supplied (qd à ¢â‚¬â€œ qs). This is shown in the last column of the table. Finally, consider prices higher than  £1.50. At these prices consumers wish to buy less than producers wish to sell. Thus, quantity supplied exceeds quantity demanded. Furthermore, the higher the price, the larger the excess of one over the other. In this case there is negative excess demand (qd – qs Now that we have understood the factors that affect the market price of a product, we can now move on to talk about the factors that affect the fluctuations in the price of oil for the past two decades. In 1985, the price of oil (Saudi Arabian Light) was $27.53 per barrel[1] (yearly average). The price of oil during this period was falling, in which in 1986, the Saudi’s abandoned the swing producer role because they had the largest reserves of oil and capacity utilization to stabilize the price of oil when there was a shortage in the world oil market. By 1987, the price of oil had dropped to $16.95. In 1988, it dropped further to $13.27 and $15.62 in 1989. In 1990, Iraq invaded Kuwait in what turned out to be a huge blow to the stable price of oil. The oil price rose to $20.45 per barrel. The major reason for this is that both Iraq and Kuwait were members of OPEC and due to the war there was a shortage of oil in the world oil market which led to an increase in the price of oil. Between 1990 and 1991 America launched operation desert storm, which was to help Kuwait against Iraq. This also contributed to the rise in the price of oil as America is the largest consumer of oil, an d they needed it during the military campaign of operation desert storm. In 1991 and 1992, the price of oil decreased to $16.63 and $17.16 respectively. In 1993, it fell again to $14.95 and $14.74 in 1994. In 1995, the price rose to $16.10, and in 1996 it shot up to $18.52. In 1998, the price initially dropped to $12.21 but shot back up again to $17.25 in 1999. The main reason for this during this period was that there was an Asian economic crisis; the Iraq oil-for-food programme which helped in stabilizing the price of oil in 1998. In 2000, the price of oil leaped to an astounding $26.20. The reason for this was that due to the decline in the price of oil OPEC members decided to cut back production in order to stabilize the price of oil, before it went below the amount various member countries of OPEC will be able to cover the cost of producing oil. In 2001, the price decreased to $22.81, and in the same year (Sept. 11th) there was an attack in the US which destroyed the world trad e centre. In 2002 to 2003, the price of oil rose to $23.74, and $26.78 respectively. This came about due to strong demand growth mainly from countries like China, and India, in which in 2004, the price of oil jumped to an ecstatic $33.64. In the present year of 2005, the monthly average of the price of oil has reached $63 a barrel. However, for reasons to do with accuracy, we have decided not to use 2005 figures since we are still in the year. The following graph represents the trend in the world price of oil over the past two decades. Data source: BP Statistical Review of World Energy, June 2005. On the supply side, the main players in the crude oil market are OPEC, which currently provides about 40 percent of world supply and hold about 70 percent of proven oil reserves, and non-OPEC producers who own the rest. OPEC as the marginal supplier does act like a cartel in most cases, i.e. they collude to restrict the output of oil and raise the price far above their cost. In recent years, its policy has been to balance the market while allowing for an appropriate level of crude oil inventories in consuming nations. Non-OPEC producers, on the other hand, have relatively limited reserves and spare capacity, and generally behave as price takers. Currently, the estimated reserves of OPEC are 890 billion barrels, as opposed to 177 million barrels for non-OPEC members. In the latter years, world events such as the Iran and Iraq war, the Asian economic crisis, the invasion of Kuwait by Iraq, and corporate social responsibility such as country legislation which regard environmental pollut ion as high on the agenda (in some country’s environmental pollution is stricter than others in order to produce oil, e.g. Nigeria has a less stricter environmental pollution legislation compared to Saudi Arabia) have all contributed to the fluctuations in the world price of oil. However, of recent, the strong demand growth from Asia and China in particular can be said to be the reason why the price of oil is rising. The consumption of oil in 2004 grew by 2.9 million barrels a day (mbd) (3.7 percent of which China contributed about 1 mbd) relative to 2003, which can be said to be the largest increase in the past 20 years. With notable exceptions of Iraq, Russia, and Saudi Arabia, the world’s oil producers may be close to their short-run output capacity. Thereby, continuing increases in demand and the possibility of even minor disruptions (Hurricane Katrina (US), Industrial disputes (Nigeria), environmental concerns (Nigeria)) in supply thus help in explaining the high market price for oil. Investment in refining capacity has been too low, and a mismatch has emerged between the type of refining capacity now required and what is available. For sometime, world oil demand has been driven by high-quality light crude (oil of low density or containing a low wax content, which makes production and refining easier) and by sweet crude (oil with a low sulphur content). Recent additions to production capacity by OPEC have though largely been in the heavy and sour grades of crude, which are more difficult and costly to refine. This lack of investment in appropriate refining capacity and limited substitution possibilities has pushed the retail price of oil up. Another reason which can be said to this lack of investment by OPEC members is a price collapse. When demand falls and the quotas allocated to member OPEC countries breaks down, the price can drop dramatically. For example, in 1997, OPEC raised its production ceiling by 2.5 million barrels per day in ant icipation of growing Asian demand, but the currency crisis of late 1997 instead caused Asian demand to fall. The result was a market price in 1998 that dipped to as low as $12.21 per barrel, the lowest level since 1973, and a $51 billion year over year reduction in oil revenue. In addition given continued uncertainty over the pace of China’s economic development, OPEC may be cautious in expanding supply capabilities due to this. This uncertainty of slow or minimal investment contributes to high futures prices for oil delivery several years ahead. One should also note that since 1986, most oil exporting countries have been burning more oil than they have discovered and since 1998, there has been a fragile balance between supply and demand. Oil is being found at a lower rate than what has been consumed, i.e. we are finding reserves at 7 billion while consuming oil at 30 billion barrels per annum (Exxon-Mobil estimates), hence the law of price adjustment and equilibrium can be s aid to have taken place. SUMMARY AND CONCLUSION This paper has looked at the definition of what a market is. We have also mentioned the concepts of demand and supply with regards to equilibrium and the law of price adjustment. The erratic movement in the price of oil in the past two decades are also looked at. Issues of what factors cause fluctuations in the price of oil such as, the lack of investment by various OPEC member countries into oil production so as to keep up with the world demand of oil, the increasing demand of oil from Asia and the Peoples Republic of China, and the uncertainty of the oil market are all mentioned. It will be worthwhile to conclude that although at present these factors seem to be the norm that affects the price of oil, one should be more cautious into the future, as with hindsight these factors could become obsolete with time passing by. Potential factors which could turn out to be embedded in the future range from alternative sources of energy to synthetic fuels, in which in the long term the demand of oil will continue to exceed supply until the previous mentioned becomes entrenched in most economies. BIBLIOGRAPHY Asian Development Outlook, (2005), The challenge of higher oil prices. BP Statistical Review of World Energy, (2005), Putting energy in the spotlight. Berkmen, P., Ouliaris, S., and Samiei, H., (2005), The structure of the oil market and causes of high prices, research department, International Monetary Fund. Chrystal, K.A., and Lipsey, R.G., (2004), Economics, Tenth Edition, Oxford printing press. International Energy Agency, (2004), Analysis of the impact of high oil prices on the Global economy. www.iea.org/textbase/papers/2004/high_oil_prices.pdf. International Monetary Agency, (2004), Analysis of the impact of high oil prices on the global economy, research department, December. Saxton, J., (2005), Explaining the high price of oil, Joint Economic Committee, Research Report, United States Congress. Serrapere, J., (2005), Crude Oil – Energy and Market Outlook, September. APPENDICES Source: BP Statistical review data 2005 The following table since 1999 shows that there has been no ‘Real’ excess oil supply. Estimated Annual World Oil Demand Growth 2000 – 2005 (million barrels daily) % Change Source: IEA monthly oil report July, 2005. 1 Footnotes [1] The reason we have used US dollars is that it is predominantly used internationally as the currency to benchmark trade.

The Awakening Essay -- essays research papers

The Awakening   Ã‚  Ã‚  Ã‚  Ã‚  The novel, The Awakening by Kate Chopin, was written in the late nineteenth century in St. Louis after her husband Oscar died of a severe illness. Her book appeared in 1899, after she was idolized by many novels written by Darwin and Sarah Orne Jewett. Her first attempts at writing were just brief sketches for a local newspaper that was only short descriptions of her life in Louisiana. However, Chopin’s interests had always run along more risky lines, as reflected in her diaries, letters, and fictions. Her most common subject was female subjugation and freedom. When The Awakening appeared, Chopin was severely criticized for depicting a sexualized and independent-thinking woman who questioned her role within the southern patriarchy. The disapproval surprised Chopin, and she never quite recovered her faith in her own work.   Ã‚  Ã‚  Ã‚  Ã‚  There were many themes discussed throughout The Awakening, many of which are very important to the concept of the novel. The main theme is the awakening from the slumber of patriarchal social convention. Edna who is the main character pronounced in the novel, must rouse herself from the life of dullness that she had always lived. What she awakens to, however, is so much larger than herself that she ultimately cannot manage the complexity of it. Edna awakens to the concept of self-discovery and must live to embrace it. This theme is deeper than the obvious themes of independence and women’s rights, however, The Awakening presents suicide as a valid solution to problems. People commit suicide because of isolation and loneliness or a serious disruption of one’s life. It is easy to connect these with Edna’s life. The isolation of her small house, the disruption caused by Adele’s death, and the common good of her children. However, her suicide had nothing to do with any lack of personal freedom. Edna, for the most part did anything she wished to do, and there were no signs that she was intending on stopping. The suicide was more of a lack of good, healthy alternatives that lead her to do so. Robert had left her in attempt to protect her, himself, or possibly both. This lead Edna to pursue a romance with Alcee Arobin, in which she secretly kept quiet in order not to hurt her children. None of these options satisfied her though, longing for the one who â€Å"awakened† her. She... ...oughout the reading. In no sense should any of it not be. She helps people understand her views and opinions on the life of people during those ages, and how she might have saw things. Everyone has an outlook on life and living in terms of turmoil can be expressed easily in her writing. Chopin’s writing is kind of wry and sympathetic about expressing the turmoil, telling a story of Edna and her tragedy. Although she told it in third person, the content follows Edna and her thought processes clearly and easily. The dialogue often reveals the sharp disjuncture between thought and speech. Kate Chopin’s true artistry is at work here. Generally, the voice is observant and non judgmental   Ã‚  Ã‚  Ã‚  Ã‚  The Awakening tells a story of independence, freedom, and will power unheard of during the times of it’s publication. It is a stirring book that forces you to confront tough issues throughout the novel. It paints a picture of what goes though the mind of a person who loses hope. The Awakening tells us a story from the perspective of the oppressed. It is far more than a romance novel with a tragic ending. It is a book about the choices one will make to protect one’s freedom.