microeconomics 60

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Write a review of recent developments in the international markets for crude oil.

Start by describing the trends observed in oil prices over the two last decades. Then, discuss the speculation argument in detail and report the impact of speculative behavior on the oil markets. Repeat the exercise for federal government inaction and conditions of demand and supply. Finally, rank the three arguments (speculation, government, demand/supply) by contribution to the observed trends in oil prices.

I expect you to type your response (single-spaced, 12 font size, three and half full pages)

For resources, see your lecture notes and the links posted on Blackboard. Make sure to cite all resources, mine and outside, properly on a separate page at the end, on top of the minimum three pages required for your answer.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx…

https://www.eia.gov/petroleum/gasdiesel/

https://www.bloomberg.com/news/articles/2015-01-22…

http://www.washingtonpost.com/wp-dyn/content/artic…

https://fred.stlouisfed.org/series/DCOILWTICO

Here are a list of some resources that you can use and make sure it is single spaced three and half full pages!

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