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This has prompted political debates impasse, and sanctions as regards the future of energy resources in the world. Reports by Market Avenue (2008) shows that this affects the price of oil in the sense that Iran has the second largest oil reservoir, next to Saudi Arabia, and thus have a greater control over how their international relations plays out with the world super powers and the OPEC to regulate the supply and price of oil.
Depending on the regions, various cars manufacturers have a specific share in the markets in which they operate in. Example is that Thailand is today, already the second largest globally, pick-up truck market after the U. and is ASEAN’s largest automotive market and assembler. Sc (Agri), says that in Thailand today all leading Japanese car producers as well as BMW, Mercedes Benz, General Motors, Ford, Volvo and Peugeot assemble cars along with their legions of suppliers.
In her report, Global Automobile Industry: Changing with Times , Chithra Gopal R. The country has become the main production base for auto- mobile exports in South East Asia. Asia-Pacific Research and Training Network on Trade Working Paper Series, No.
It will cost an oil production facility roughly the same amount to produce at half or full capacity.
Maintenance and repairs will only be done if the price of oil is high.
The market demand (red line) for oil is highly inelastic, and a large change in price only has a small impact on demand for oil.
In essence, you will not drive twice as fast because oil is cheaper, nor can you easily switch from using one type of fuel to another(petrol to diesel) just because its price has changed to be cheaper. This is because investment in the production facilities leads to an increase in supply, but the cost of pumping out the oil is relatively the same (Hillier, 2005).
These include brand names such as Toyota, Hyundai, Range Rovers, Mercedes Benz, Nissan just to mention a few. For ease of reference they have been ranked by country.
In the top ten we have China, Japan, USA, Germany, South Korea, Brazil, India, Spain, France, and Mexico respectively.
According to Biswajit et al (2007), alternatives to oil, there are increasing alternatives to oil as a source of energy.
Many other alternatives like, solar, propane, nuclear energy, bio diesel, hydrogen, battery and ethanol.