While oil is a valuable resource,

Like... The river it is also a curse. Its flow is inconstant. In drought years, the supply of water falls; in other years, floods can take their toll, leaving death and destruction in their wake. It can become polluted, causing both health and economic problems for its users.

Davis J.)

The above analogy highlights some of the essential features of the modern oil industry and the way that it affects world economies. Oil is essentially a limited commodity as well as being a vital resource for the international economy. As such it is also affected by a range of different variables; including politics, international affairs, fluctuating market prices, environmental concerns and other factors that all combine to form of complex picture of the industry in relation to the international community.

One of the central features of the contemporary oil industry is the problem of...
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