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.
