Explaination of the following two bullet points:
~Overview of oil industry in reference to Macroeconomics
~SWOT of Oil Industry
Energy is one of the most important inputs in the process of production and oil is one of the most important components therein. Therefore, what happens in the oil industry has an impact on all sectors of the economy. When oil prices go up it raises the general price level since it becomes costlier to produce and to ship every other good. Rising prices hurt margins of companies and they try to cut down their scales and may do so by firing employees, which in turn reduces demand from consumers who lost their jobs. We, therefore, end up in a vicious cycle that severely hurts our production capacity and our general well being. One classical example is the recession of the 1970s and early 1980s that ...
SWOT of Oil Industry is achieved.