By C. Read

The full tale of the devastating BP oil spill of 2010. the writer places ahead an goal account of what occurred, a documentation of the genuine expenses, no longer the hyperbolic bills, and a proof of the technology and enterprise of the spill and its remediation.

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Finally, biomass for the conversion to energy is an exciting energy prospect. Ethanol, derived from corn fermentation in the United States, and sugar beets, in Brazil, have been a substitute for gasoline, either as a mix with gasoline or as a sole fuel for specially equipped vehicles. This technology converts carbon dioxide to sugars, which are then converted to ethanol fuel. Consequently, these biomass fuels are carbon neutral. They absorb as much carbon dioxide in their biomass growth as they release in their use as a fuel.

In the long run, however, prolonged high oil prices will induce people to become more energy efficient, and will induce suppliers to develop alternatives to oil. With a greater number of economical substitutes to oil, the demand curve for oil becomes flatter as the quantity of oil demanded becomes more sensitive, or elastic, to its price. Producers find commodities with such inelasticity profitable because consumers will not demand appreciably less as the price increases. Traditionally, a supplier can attempt to enhance consumer loyalty through advertising or by absorbing its competitors.

S. overtaking Great Britain as the world’s largest economy in the early part of the 20th century. Indeed, Rockefeller’s Standard Oil Company became the notorious vertically integrated monopoly that would eventually define corporate excess and create the clash of large companies and government policy bent on curtailing their strength. S. Congress and the definition of modern antitrust policy. ) was broken up by government fiat, replaced, in part, by a namesake Esso that would eventually become Exxon and, in a merger with Mobil Oil, ExxonMobil.

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