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The Future of National Oil Companies (NOC) – Essay Sample

The Future of National Oil Companies (NOC) – Essay Sample

National oil companies have a huge impact on the international market and on consumers around the world. Evaluating the future of national oil companies on the global market will help individuals prepare for changes and wisely invest in upcoming endeavors. With oil companies so cemented in the global energy market, it is likely they’ll have a very significant effect on the global economy as time goes on.

Currently, oil companies enjoy an incredible amount of success. With extremely high demands for oil and other natural gases, these companies will always be able to find a market. However, there are issues to this success. Oil is not an infinite resource, and evening 2012 global markets are feeling the strain of dwindling oil supplies. The public is becoming more aware of this issue, and oil companies are beginning to charge more for their products due to decreased supply and higher production costs. In the future, it is likely that oil prices will increase as supplies continue to lessen. While it is still debated when most oil supplied will truly run out, it’s obvious to most of the world that new sources of energy will need to be supplemented – and soon.

With the constant push to create sustainable energy practices, oil companies may face a strange turn of events. Oil prices are likely to go up while oil remains a widespread, needed commodity. However, with the constant introduction of hybrid and electric-powered machines, the market may gradually shift towards anther energy source. This would be devastating to national oil companies.

National oil companies are also tied in tightly with national governments, which can affect their success in the global market. Wars, international policies and national regulations can all inhibit national oil companies from reaching their full profit potential. With government instability present in many oil-rich countries, oil companies may soon be in different hands. This can either broaden a company’s global reach or limit it (in most cases, unfortunately, the result is limiting). Overall, the future of national oil companies is not looking as bright as it once did.

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