Instructions:
Answer ANY TWO Essays. Each question has several parts: be sure to answer all component
parts of the essay question. Write each essay separately, and add the question number at the
start of the essay. Do not combine your responses to the questions into one essay.
Format: double spaced, 10-12 font, 1-inch margins. Add a separate title page with your name.
Citation format: Use either footnotes or in-text citations to refer to your sources.
The essays should be about 8 pages in length (total, for both essays)
These are integrative essays: the best approach is to use/draw from all of the assigned readings
(books/articles) to demonstrate how they relate to the question.
Use/cite all relevant sources from the assigned readings (Yergin, articles, notes, other assigned
readings). It is essential that you document the use of course sources in completing each essay.
Your own evaluation/opinion is important, but do not neglect to engage with and include the
assigned readings that are relevant
The Midterm Exam is worth 25% of the total course grade. Completed essays are due in class
on Thursday June 2, 2015. Late papers will not be accepted.
1. Energy Prices, Demand and Supply: ‘Volatile prices and anxiety about ‘peak oil’ have made a
significant impact on oil prices, as well as markets for natural gas and coal.’ Write an essay that
explains the connection between the prices for oil, gas and coal. What factors can increase (or
reduce) the supply and demand for each energy source? In your estimation, what factors could
lead to stable oil prices in the long run?
2. Energy and Risks: ‘The risk of production failure, environmental damage, and political
disruption are significant problems facing the expansion of the use of oil, natural gas and coal.’
Write an essay that compares the environmental and political (domestic and international)
challenges that have accompanied the use of oil, natural gas and coal. In your estimation, can
these environmental risks be managed or reduced (and by what means)?
3. Energy and Global Business: ‘Global energy supplies are driven by the organizations and
firms that bring energy resources to markets.’ Write an essay that describes the businesses
(private and state-owned, global and national) that are involved in the oil, natural gas and coal
industries. What are the (positive and negative) impact of these players for the energy market?
4. Energy and Externalities: ‘The resource curse and climate change are negative externalities
that accompany the use of fossil fuels in the global economy’. Describe how fossil fuel (oil, gas,
coal) production is tied to the ‘resource curse’, and to global emissions that may affect the
climate. Are these inevitable processes, or are there policies that could be taken to successfully
avoid these challenges? Use specific cases to illustrate your argument.
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