Post by quynhphuongnguyen on Jan 24, 2016 17:41:46 GMT
1) What are the impacts of the decrease in oil price on your daily lives?
I mostly travel to nearby places by bike or come to school by bus . Despite the decline in the cost of fuel, there would not probably be a drop in bus fare as the buses are rarely affected by the fluctuation of the oil price. Thus, the recent fall in the price of oil does not have an particular effect on my everyday life.
2) What's your opinion about the credibility of the information provided in the article?
The piece of news is published by The Guardian- a British national daily newspaper. It is one of the most trustworthy source of news in England for providing detailed information and latest news for almost 200 years. It also has received many awards for its contribution to public service reporting, one of which is the 2014 Pulitzer Prize.The content of the website is definitely well-written and comprehensive. It address the problem in detail by giving specific research data and precise analysis. Various points of view from analysts are also given to approach all aspects of the situation. On the whole, the validity of the information in the article can absolutely be reliable.
3) From your perspective, how will oil price fluctuate in the next 2 years?
In my opinion,the plunging price of oil might get worse for the following 2 years.First of all,there is an opposition between participating countries of the OPEC. Some countries are willing to cut oil production while the others are not. As the situation of the OPEC’s is highly intensive, the problem might not be solved in a near future. Moreover,there are more and more countries which start to join in the massive market of oil production. The price of a barrel of oil might be forced to drop due to the intensive competition between oil-producing countries. Last but not least,the demand for fuel might become gradually smaller as the developing countries,whose economies are relatively weak, are in need of more energy-saving transportation and economical domestic products. To sum up, the oil price
might still follow the downward trend in the time coming.
I mostly travel to nearby places by bike or come to school by bus . Despite the decline in the cost of fuel, there would not probably be a drop in bus fare as the buses are rarely affected by the fluctuation of the oil price. Thus, the recent fall in the price of oil does not have an particular effect on my everyday life.
2) What's your opinion about the credibility of the information provided in the article?
The piece of news is published by The Guardian- a British national daily newspaper. It is one of the most trustworthy source of news in England for providing detailed information and latest news for almost 200 years. It also has received many awards for its contribution to public service reporting, one of which is the 2014 Pulitzer Prize.The content of the website is definitely well-written and comprehensive. It address the problem in detail by giving specific research data and precise analysis. Various points of view from analysts are also given to approach all aspects of the situation. On the whole, the validity of the information in the article can absolutely be reliable.
3) From your perspective, how will oil price fluctuate in the next 2 years?
In my opinion,the plunging price of oil might get worse for the following 2 years.First of all,there is an opposition between participating countries of the OPEC. Some countries are willing to cut oil production while the others are not. As the situation of the OPEC’s is highly intensive, the problem might not be solved in a near future. Moreover,there are more and more countries which start to join in the massive market of oil production. The price of a barrel of oil might be forced to drop due to the intensive competition between oil-producing countries. Last but not least,the demand for fuel might become gradually smaller as the developing countries,whose economies are relatively weak, are in need of more energy-saving transportation and economical domestic products. To sum up, the oil price
might still follow the downward trend in the time coming.
2) Yeah, to some extents, I agree that we cannot deny the reputation of the Guardian. But in this case, I had some evaluations and found that the article may lack technical knowledge in the economic field. Although I'm not an expert, I think there is no relation between the oil price's drop and the stock index of some US companies. You may find what I'm referring to in the three first sentences of the article.
3) I agree that the oil price may still tumble in 2016, but to my mind, it will significantly surge in 2017 as the oil providers may consider restricting the volume of oil. They may take advantage of this to compensate for the two gloomy years 2015 and 2016.