Gay Rights A Logical Progression of the Civil Rights...

â€Å"Even though we face the difficulties of today and tomorrow, I have a dream. It is a dream deeply rooted in the American dream. I have a dream that one day this nation will rise up and live out the true meaning of its creed – ‘we hold these truths to be self evident that all men are created equal’.† -Martin Luther King Jr. The Civil Rights movement may have started out as a mission to improve the lives of the large population of African-Americans, but who would have guessed that King’s quest for racial integration would provoke the same quest for individual rights by another group of people, Gays and Lesbians. The quest for equal rights by people, who had unjustifiably been repressed for hundreds of years, would spur and give†¦show more content†¦It seems so inconceivable to even think that such a large group of society would be denied of their natural rights as citizens just because of the color of their skin. nbsp;nbsp;nbsp;nbsp;nbsp;The Gay Rights movement that occurred later on in the century shared many things in common with the Civil Rights movement. Most importantly, both movements struggled to gain rights for peoples who had been discriminated against because of something that they themselves cannot help or change and for something that had no relation to the rights that they desired. While the Civil Rights movement sought to bring about rights for African-Americans who were born with a darker skin color, the Gay Rights movement sought to gain rights for people who were born homosexual and could not explain why or how they became so. There was no choice in being a Black-American as there was no choice in being attracted to people of the same gender or being homosexual. Therefore, as American citizens, they were not making an illegal or immoral choice but rather they were just being the person they were born to be. In addition, by being African-American or Gay, they did not give caus e or reason to be stripped or limited of their rights by society as a whole. Whatever, these people were, above all they were American citizens. nbsp;nbsp;nbsp;nbsp;nbsp;A major difference however between the tow movements was the very fact of the skin colorShow MoreRelatedDiscrimination Imposed Upon Minority Groups Throughout History1446 Words   |  6 Pagesawareness in regards to the importance of marriage equality and how, although it s legalisation would be a significant progression towards acceptance and appreciation, we are far from overcoming the discriminatory practices which privilege heteronormativity. 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No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108Read MoreHuman Resources Management150900 Words   |  604 Pages†¢ HR Planning †¢ Job Analysis †¢ HR Information and Assessment Systems EN VI R O NM L TA EN Employee and Labor/Management Relations Equal Employment Opportunity †¢ Compliance †¢ Diversity †¢ Affirmative Action †¢ HR Policies †¢ Employee Rights and Privacy †¢ Union/Management Relations S IZ E Health, Safety, and Security †¢ Health and Wellness †¢ Safety †¢ Security GOALS †¢ Productivity †¢ Quality †¢ Service Staffing †¢ Job Analysis †¢ Recruiting †¢ Selection CU †¢ Wage/Salary AdministrationRead MoreStrategic Human Resource Management72324 Words   |  290 PagesHigh Street ï‚ · New Malden Surrey KT3 4TE ï‚ · United Kingdom Tel: + 44(0)20 8329 2930 ï‚ · Fax: + 44(0)20 8329 2945 E-mail: info@abeuk.com ï‚ · www.abeuk.com  © Copyright, 2008 The Association of Business Executives (ABE) and RRC Business Training All rights reserved No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, or by any means, electronic, electrostatic, mechanical, photocopied or otherwise, without the express permission in writing from TheRead MoreDeveloping Management Skills404131 Words   |  1617 Pagesand reproduced, with permission, in this textbook appear on appropriate page within text. 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Cosmetic Surgery An Increase Worldwide Trend - 3793 Words

Cosmetic surgery is an increasing worldwide trend amongst a significant number of adults in the 21st century. As technology advances more rapidly than ever, the opportunity for people to undergo surgery enabling them to look younger and healthier becomes more readily accessible to the masses. From the more common Botox treatments to breast augmentation surgeries and rhinoplasties, every year up to 15 million people around the world have opted to undergo certain cosmetic procedures in order to enhance their appearance. This shows how much more increasingly popular and socially accepted it has become for people to undergo cosmetic surgery in the recent years, and it also suggests a change in society’s perception of ‘beauty’ and individuals’†¦show more content†¦There have been early-recorded instances of cosmetic surgery being performed in different ancient cultures and civilizations in the world; to begin with, certain African tribes make it a tradi tion to insert lip plates and plugs in order to stretch their lips (1). Dating back to as far as 3300BCE, one of the oldest natural mummies to be well-preserved kept to this date is Ãâ€"tzi (also known as Ãâ€"tzi the Iceman), and upon close examination, it can be observed that his earlobes are stretched (2) – this is a tradition that has been practiced for thousands of years, and can be classified as cosmetic surgery since it was considered to be an enhancement for an individual’s beauty. This can also be seen in other Egyptian mummies. Traditionally, in China, women’s feet are also bound from a very young age to prevent them from growing; smaller feet was a symbol of beauty in ancient China, and also a status symbol for the privileged and the wealthy (1). These procedures are often done with minimal technology involved and are quite ‘mechanical’ processes. Coming back to the modern times, the technological advances in the past 100 years have sudd enly allowed for a rapid increase in the variety of procedures available and along with that, with marketing strategies and notable individuals (or celebrities) opting to undergo certain surgeries, some of these procedures have become increasingly popular; television shows, such as Nip/Tuck, Botched

Impressionism and Post Impressionism Free Essays

Impressionism is the art movement that began in France in the 19th century. Claude Monet’s work, Impression, soleil levant, or Impression, Sunrise, is where the name for the movement was derived. Various styles such as thin, small brush strokes, open composition, accurate depiction of light, ordinary subject matter, movement, and unusual visual angles were used in art during this time period. We will write a custom essay sample on Impressionism and Post Impressionism or any similar topic only for you Order Now Impressionists broke the traditional guidelines of painting which drew a hostile reaction from the public at first. Instead of specific details their art depicted visual effects using various colors, shading, and short strokes leaving out much of the detail and capturing what was being observed at a given moment. (Impressionism, 2013) Impressionist artists were also liberated from painting only indoors by the innovation of storing paint in tubes. This technology allowed artists to pain outside which led them to create pieces that featured landscapes and were more focused on capturing natural light in their work. (MindEdge, 3. 20) In the 1870’s when Impressionism was beginning to grow in popularity, France was undergoing major changes in the political arena. Napoleon III had just been defeated in a war against Prussia. During his rule France saw industrial and economic growth but certain freedoms such as press and assembly had been suppressed. Following his rule, France established the Third Republic. In the beginning there was conflict between royalists and a group referred to as The Commune, a socialist group. After five years of fighting the royalists of the Republic ultimately won by executing hundreds of The Commune in an event now known as The Bloody Week. During this time thousands of France also fled the country to places like England, Spain, and even the United States. Due to all the hostility by the opposing sides France stayed under martial law for five years. There were also religious impacts during this time period. Most notably was the separation of the Church from the state. This legislation made the Church property of the state and required that religion be removed from schools. Additionally churches were only allowed to remain open if they held public political meetings in the evenings. Education reform was also in the works that focused increasing the availability of further education and training in technology. (France in the 19th Century, 2013) Post-Impressionism immediately followed Impressionism beginning in the 1890’s. The actual term was first used by Roger Fry a British artist and art critic in 1910. Post-Impressionism typically refers to the time period since French painter, Edourd Manet. The style of Post-Impressionism continued the use of vivid colors, thick paint application, real-life subject matter, and distinct brush strokes that were all common during Impressionism. Additionally artists also highlighted geometric forms, and used strange or uninformed colors. A foundation for quite a few 20th-century contemporary trends evolved because of the work of Post-Impressionist artists. (Post-Impressionism, 2013) World War II, a paramount world event was happening during the Post-Impression period. Many in France welcomed this war as a way to defeat Germany after the Franco-Prussian War in 1871. Attitudes soon changed regarding the war. Soldiers grew tired and hesitant to attack. Due to the war the economy in France was devastated during this time by German invasion in major industrial areas. America was a relief for France during the war providing food, money, and raw materials in 1917. Following the war France was in a poor state economically and the government struggled as well. France’s economy continued to struggle even after the war as they were behind in industry. Germany and Great Britain both beat France industrially regardless of the great industry and infrastructure that was in France. (France in the 20th Century, 2013) There are many similarities and a few differences between art during the Impressionism and Post-Impressionism Eras. Both art forms were neither realistic nor abstract, dealt with realistic subject matter a lot of which were landscapes and the artist’s uses of colors to show light sources. Additionally both periods used some of the same techniques in relation to distinct brush strokes, thick application of paint, and use of vivid and sometimes unrealistic paint colors. Even though Post-Impressionist artists carried on several of the Impressionist innovations there were also new things introduced. Post-Impressionist artist used unnatural forms and colors to portray things in the natural world while Impressionists works were more realistic. Also, Impressionist artists had less of a concern for expression and structure than Post-Impressionist artists. (MindEdge, 3. 20) Post-Impressionism continued much of the work of Impressionism. The use of real subject matter, the ability to do art outdoors, and the artists approach to color selections and applications are all examples of how Impressionism had stylistic impacts on Post-Impressionism. These similarities can be better understood by analyzing works from each era. Claude Monet was an Impressionist artist. His work, Houses of Parliament, is an oil painting that he produced in approximately 1901. In this work Monet portrays his view of the houses of Parliament across the Thames River in London from his room in the Savoy Hotel. As in most works of this time period Monet used abstract shapes, muted colors, and a distinct light source that shows the exact time of day, late afternoon, in which he completed this work. (The Houses of Parliament, 2013) In contrast to this work is Vincent van Gogh’s Post-Impressionist work, Irises. Van Gogh completed this and many of his works from within the confines of Stain Paul-de-Mausole, an asylum in France. Van Gogh spent many of his days painting the gardens that surrounded the clinic. As seen in Irises, van Gogh uses bright vibrant colors, lighting sources that resemble a bright, sunny day, and much more realistic techniques than in Monet’s Houses of Parliament. (Vincent van Gogh, 2013) Houses of Parliament relates to Irises because they represent the differences between Impressionism and Post-Impressionism art styles and techniques. You can see in Irises a lot of the techniques that started during the Impressionist period but that were refined during Post-Impressionism, specifically in the detail of the brush strokes, more realistic feel, and brighter colors used in the piece. Post Impressionism influenced the art world by bringing painting into a more realistic phase and by introducing new techniques that are still used in painting today. The use of various colors to portray light sources, while beginning during Impressionism, was highly elevated during Post-Impressionism. Additionally the radical approach and independent styles used by post-impressionist artist and their resolve of pursuing exclusive artistic expression intensely influenced future groups of artists. (The Met Post-Impressionism, 2013). How to cite Impressionism and Post Impressionism, Papers Impressionism and Post Impressionism Free Essays Impressionism and Post-Impressionism Eras Impressionism is the art movement that began in France in the 19th century. Claude Motet’s work, Impression, sole eleven, or Impression, Sunrise, is where the name for the movement was derived. Various styles such as thin, small brush strokes, open composition, accurate depiction of light, ordinary subject matter, movement, and unusual visual angles were used in art during this time period. We will write a custom essay sample on Impressionism and Post Impressionism or any similar topic only for you Order Now Impressionists broke the traditional guidelines of painting which drew a hostile reaction from the public at first. Instead of specific details their art depicted visual effects using various lord, shading, and short strokes leaving out much of the detail and capturing what was being observed at a given moment. (Impressionism, 2013) Impressionist artists were also liberated from painting only indoors by the innovation of storing paint in tubes. This technology allowed artists to pain outside which led them to create pieces that featured landscapes and were more focused on capturing natural light in their work. (Minded, 3. 20) In the sass’s when Impressionism was beginning to grow in popularity, France was undergoing major changes in the political arena. Napoleon Ill had Just been defeated n a war against Prussia. During his rule France saw industrial and economic growth but certain freedoms such as press and assembly had been suppressed. Following his rule, France established the Third Republic. In the beginning there was conflict between royalists and a group referred to as The Commune, a socialist group. After five years of fighting the royalists of the Republic ultimately won by executing hundreds of The Commune in an event now known as The Bloody Week. During this time thousands of France also fled the country to places like England, Spain, and even he United States. Due to all the hostility by the opposing sides France stayed under martial law for five years. There were also religious impacts during this time period. Most notably was the separation of the Church from the state. This legislation made the Church property of the state and required that religion be removed from schools. Additionally churches were only allowed to remain open if they held public political meetings in the evenings. Education reform was also in the works that focused increasing the availability of further education and training in technology. France in the 19th Century, 2013) Post-Impressionism immediately followed Impressionism beginning in the sass’s. The actual term was first used by Roger Fry a British artist and art critic in 1910. Post-Impressionism typically refers to the time period since French painter, Dour Meant. The style of Post-Impressionism continued the use of vivid colors, thick paint application, real-life subject matter, and distinct brush strokes that were all common during Impressionism. Additionally artists also highlighted geometric forms, and used strange or uninformed colors. A foundation for quite a few 20th-century contemporary trends evolved because of the work of Post- Impressionist artists. (Post-Impressionism, 2013) World War II, a paramount world event was happening during the Post-Impression period. Many in France welcomed this war as a way to defeat Germany after the Franco-Prussian War in 1871. Attitudes soon changed regarding the war. Soldiers grew tired and hesitant to attack. Due to the war the economy in France was devastated during this time by German invasion in major industrial areas. America was a relief for France during the war providing DOD, money, and raw materials in 1917. Following the war France was in a poor state economically and the government struggled as well. France’s economy continued to struggle even after the war as they were behind in industry. Germany and Great Britain both beat France industrially regardless of the great industry and infrastructure that was in France. (France in the 20th Century, 2013) There are many similarities and a few differences between art during the Impressionism and Post- Impressionism Eras. Both art forms were neither realistic nor abstract, dealt with legalistic subject matter a lot of which were landscapes and the artist’s uses of colors to show light sources. Additionally both periods used some of the same techniques in relation to distinct brush strokes, thick application of paint, and use of vivid and sometimes unrealistic paint colors. Even though Post-Impressionist artists carried on several of the Impressionist innovations there were also new things introduced. Post- Impressionist artist used unnatural forms and colors to portray things in the natural world while Impressionists works were more realistic. Also, Impressionist artists had sees of a concern for expression and structure than Post-Impressionist artists. (Minded, 3. 20) Post-Impressionism continued much of the work of Impressionism. The use of real subject matter, the ability to do art outdoors, and the artists approach to color selections and applications are all examples of how Impressionism had stylistic impacts on Post-Impressionism. These similarities can be better understood by analyzing works from each era. Claude Monet was an Impressionist artist. His work, Houses of Parliament, is an oil painting that he produced in approximately 1901. In this work Monet portrays his view of the houses of Parliament across the Thames River in London from his room in the Savoy Hotel. As in most works of this time period Monet used abstract shapes, muted colors, and a distinct light source that shows the exact time of day, late afternoon, in which he completed this work. (The Houses of Parliament, 2013) In contrast to this work is Vincent van Sago’s Post- Impressionist work, Irises. Van Gogh completed this and many of his works from within the confines of Stain Paul-De-Mausoleum, an asylum in France. Van Gogh spent any of his days painting the gardens that surrounded the clinic. As seen in Irises, van Gogh uses bright vibrant colors, lighting sources that resemble a bright, sunny day, and much more realistic techniques than in Motet’s Houses of Parliament. (Vincent van Gogh, 2013) Houses of Parliament relates to Irises because they represent the differences between Impressionism and Post-Impressionism art styles and techniques. You can see in Irises a lot of the techniques that started during the Impressionist period but that were refined during Post-Impressionism, specifically in he detail of the brush strokes, more realistic feel, and brighter colors used in the piece. Post Impressionism influenced the art world by bringing painting into a more realistic phase and by introducing new techniques that are still used in painting today. The use of various colors to portray light sources, while beginning during Impressionism, was highly elevated during Post-Impressionism. Additionally the radical approach and independent styles used by post-impressionist artist and their resolve of pursuing exclusive artistic expression intensely influenced future groups of artists. The Met Post-Impressionism, 2013). References Impressionism. (2013). How to cite Impressionism and Post Impressionism, Papers

The OPEC Oil Cartel

Question: The OPEC oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over coming months as market forces shake out the weakest producers. What does this mean for the future of OPEC? Is this a final rear-guard defensive action to preserve their power over oil prices they have enjoyed for 40 years? Answer: Introduction Few people would have thought that the oil prices will reach $50 a barrel in the future, but this has happened and things look bleak even now. The shale oil boom followed by the decisions taken by OPEC has completely changed the dynamics of the oil industry. The technology in shale oil extraction has completely changed in the last 5-10 years and the results are now visible. The market has been giving sustainable output for long to price to take nose dive. Coupled with this excess supply there has been slowdown in global growth which is hurting the demand. China being the largest importer of oil has been facing slowdown and now India has surpassed growth rate of China. This is where the demand has considerably reduced and market is well supplied. European region is also facing a slowdown and the same has also hurt the demand prospects. The oil refineries which see good demand during Oct-April, has seen sharp slowdown. The reason for the same is the fact that markets are well supplied. As per a conspiracy theory it has been suggested that ISIS is keeping the black market well supplied. This is also one of the reasons why the problem exists in the market. In the last 40 years OPEC has been controlling the market at large as it is the one which has the largest market share. However in recent times, shale oil supply has tightened the market and good pressure is witnessed in maintaining market share. OPEC countries have been providing its prime client in Asia a good discount. This is where the prices started sliding and the oil prices came from the high of $115 a barrel to $50 a barrel. In past whenever markets have been well supplied and the prices have come down, that is when OPEC has decided to reduce supply in the market and the prices have rose up. This is where OPEC has been able to control the price in the market for half a century. However in the recent meeting held in November, 2015 the OPEC decided to maintain the output. The main reason has been to maintain the market share in the business. Some of the critical factors that need to be answered is, how long the prices are sustainable? What is the price level which OPEC is still comfortable with? What is the price level when the shale explorer will cut investments and also close shale supply? These are some of the critical factors that need to be answered and the dynamics have completely changed over the last year. Current Performance The biggest factor controlling the world production of oil is the world price of oil. A higher price encourages production increases to take advantage of the available profits, while a lower price forces extraction companies to cut back on the production capacity they can no longer afford. Also, when the price of oil is relatively stagnant, as in 2006 and 2007, the Organization of Petroleum Exporting Countries (OPEC) often lowers the production quotas of its member nations to force the price up again. When it does so, as in 2006 and 2007, production from non-OPEC nations increases to compensate. As a result, the world production of oil remained virtually unchanged between 2005 and 2007. However, the dramatic oil price spike in 2008 caused production to jump for the reasons described above. The global recession followed, and the lowered oil demand it caused the price of oil to fall considerably, which ultimately forced the worlds oil producers to cut their daily production back 0.9% in 2009. As prices recovered rapidly in 2010, so did production, growing by 3.0% to pass the 2008 average. The price of oil resumed growth in 2011, and with it the global supply of oil. In 2013, the price of oil declined, hampering strong growth in the production of oil during the year. Production is anticipated to rebound in 2014, despite a significant decline in the price of oil. In the latter part of the five years to 2015, the world price of oil plummeted due to weak demand and a supply gut. This can largely be attributed to OPEC maintaining production levels, despite falling oil prices. Moreover, the United States is increasingly ramping up domestic production of oil, which is also c ontributing to the supply glut and weighing on prices. Over the five years to 2015, world production of oil is expected to grow at an annualized rate of 1.2%. Outlook The world production of oil will continue growing in the five years to 2020 to match oils ever-growing demand. However, the rate of growth is expected to slow as the price of oil reaches a point to significantly slow demand growth. As a result, annual production growth is expected to average just 0.6% over the five years to 2020. However, the timing and nature of OPEC production quota changes are difficult to forecast, and any dramatic changes by the organization would alter world production totals significantly. The world price of crude oil represents the equally weighted average of oil on three different markets of light crude oil around the world in terms of US dollars per barrel. These markets are for Dated Brent petroleum (38 American Petroleum Institute) in the United Kingdom, Fateh petroleum (32 API) in Dubai and West Texas Intermediate petroleum (40 API) in Midland, TX, United States. Annual figures are presented as the equally weighted average of monthly averages. Historical figures and projections are sourced from the International Monetary Fund (IMF) and the US Energy Information Administration. Current Performance Oil prices are highly volatile. A wide range of external factors influence price fluctuations, and these factors include foreign exchange movements, foreign policy decisions, production levels and demand from emerging markets. The most influential development over the past five years has been the increasing emphasis on hydraulic fracturing and horizontal drilling techniques. While upstream oil and gas producers have used these techniques for decades, technological developments have made both hydraulic fracturing and horizontal drilling more efficient and more profitable than ever before. In the United States, the shift towards these techniques has drastically increased production levels, which has in turn pressured domestic prices for both oil and natural gas. Environmental concerns have increased over the five-year period, and as a result, calls for additional investment in alternative fuel sources have impacted oil and gas producers ability to expand operations, especially in offshore arenas. Crude oil prices are largely determined by market conditions, and falling demand can pressure crude oil prices. Though demand for crude oil is projected to remain strong, as it is an input for a wide range of products, high levels of supply, pressure to develop alternative fuel sources and restrictions on crude oil exports in the United States have weighed on crude oils price performance over the past five years. For example, as the United States increasingly has supplied itself with petroleum, exporting nations, such as Nigeria and Venezuela, have had to seek other markets for their petroleum output. If the US government continues to reduce export restrictions, US oil will enter global markets, which will further increase supply and pressure prices . Although overall economic conditions have improved from recessionary lows in 2009, demand from emerging markets, most notably China, has eased in recent quarters. Though rapid industrialization of countries like China and India has boosted demand for petroleum products, high levels of production have pressured prices for crude oil around the globe. In the United States, for example, the inability of producers to export crude oil limits producers ability to seek the highest available price for their output. As a result, prices have been falling steadily in the United States since the second half of 2014, as production has continued and surpluses have developed. Moreover, the Organization of Petroleum Exporting Countries (OPEC), in addition to US drilling operators have continued to produce at steady levels despite the recent decline in price. This has exacerbated the build-up in supply and put additional pressure on prices. Consequently, the world price of crude oil is anticipated to fall at an annualized rate of 6.6% to $56.7 per barrel over the five years to 2015. The world price of oil is expected to trend higher over the next five years; however, it will continue to face downward pressure. US production levels will continue to be strong, and the potential for the US government to reduce export restrictions could further encourage upstream companies to produce at strong levels in the United States. Furthermore, OPECs production levels will likely continue at strong levels, further ensuring strong levels of oil supply on global markets. According to the Energy Information Administrations (EIA) January 2015 Short-Term Energy Outlook, global demand for petroleum and other liquids will average 92.4 million barrels per day (bbl/d) in 2015, and global liquid fuels supply will average 93.0 million bbl/d in 2015. Nevertheless, the world price of crude oil is anticipated to grow at an annualized rate of 5.1% to $72.6 per barrel over the five years to 2020. Although the price is expected to appreciate over the five-year period, this is primarily due to coming off a low base in 2015. Developments in shale deposits in the United States will continue to encourage growth in production, and the pending approval of the Keystone XL pipeline has the potential to bolster supply levels in the United States. Production in the United States will continue to stress foreign producers of oil and gas, as US appetite for petroleum will be satiated by domestic production, limiting the ability of foreign producers to export to the United States. As emerging markets continue to import petroleum, competition will intensify for exporting nations to supply these growth markets. Volatility Volatility will be persistent over the next five years, as many exogenous factors can drastically impact overall market conditions. Several oil producing countries face political instability that will continue over the next five years, most notably Iraq and Libya. Additionally, central banks around the world will continue to focus on oil price movements, as low oil prices can benefit a wide range of industries and encourage economic growth. Nonetheless, the potential for sudden price fluctuations will remain constant. Over the next five years, Russian production of petroleum resources will play an important role in European markets for natural gas and crude oil. Countries that are rich in shale resources, such as China and Russia, will challenge the US competitive advantage in hydraulic fracturing and horizontal drilling production over the next five years. However, the US will maintain its advantage in shale resource development due to its developed infrastructure and its access to technology and expertise. The Global Oil and Gas Exploration and Production industry seeks valuable, natural resources from beneath the earth's surface. Due to the scale of the industry, market concentration is low on a global scale, though regional operators can heavily influence their operational regions. The largest companies are vertically integrated, multinational conglomerates, and when the initial drilling, extraction and transport stages are completed, these companies typically perform refining and manufacturing activities. These activities are excluded from this mature industry. Movements in oil and natural gas prices relative to production volumes play key roles in determining the industry's performance. Key markets include the developing nations of Brazil, Russia, India and China, also known as the BRIC nations. The emerging industrial capacities of the BRIC nations have driven up the cost for raw energy commodities, as a wide range of manufacturing pursuits require oil and natural gas as key inputs or energy sources for factory equipment. In the five years to 2015, IBISWorld expects industry revenue to grow strongly at an annualized rate of 5.0% to $4.3 trillion, largely reflecting the recovery from lows experienced during the global recession, when plummeting oil and gas prices brought down industry revenue. In 2015, revenue is expected to fall 8.7%, due to weak crude oil prices. Volatile prices prevail Aside from a steep drop during the economic crisis, when global economic activity slowed significantly, oil prices have remained high over the five years to 2015 for several reasons. First, the rapid industrialization of China and India spurred a significant increase in demand as a result of the growing use of automobiles among these countries' sizeable, emerging middle classes. Second, the easiest oil to extract has already been extracted; therefore, every barrel taken from the ground costs more than the one before it. Finally, the rising political instability in many of the leading countries in petroleum production, which are also emerging countries, has caused prices to rise. The Middle East, a main petroleum-producing region, has been in a state of constant tension; consequently, oil prices rose sharply in 2011 as political unrest in Syria, Libya, Tunisia and Egypt threatened to constrain supply. Meanwhile, continued strong demand for natural gas, especially from Asia, is expected to keep gas prices high, despite skyrocketing production in North America. New pipelines, pipeline extensions and continued growth in demand for liquefied natural gas have underpinned growth in gas output. Gas has also benefited from its status as a relatively clean fuel, particularly when compared with coal. However, the US market has generated a surplus of natural gas that has pressured prices. Nevertheless, the world price of natural gas is anticipated to increase at an average annual rate of 6.9% in the five years to 2015, largely reflecting the recovery from recessionary lows. Industry profit is expected to grow in line with oil and natural gas prices over the five years to 2015. This climate of rising demand and production has led to increases in industry employment; however, productivity gains have held employment growth down to an average annual rate of 1.2% to 1.3 million employees over the five years to 2015. Meanwhile, enterprise numbers are expected to marginally increase at an average annual rate of 0.7% to 10,011, as existing companies have consolidated to better absorb volatile petroleum price shocks. Indeed, merger and acquisition (MA) activity was robust in the oil and gas sector in recent years. According to research from Deloitte's transaction advisory business, oil and gas MA transactions totaled $349.0 billion in 2012 and $205.0 billion in 2013. The majority of new companies are likely focused on developing unconventional resources in the United States, as hydraulic fracturing and directional drilling are currently most prominent in North A merica. BRIC demand While advanced economies, such as the United States, Japan, South Korea, Singapore and those in the European Union, are responsible for much of the total value of the world's GDP, they only contribute small growth to its expansion. Major demand growth worldwide comes from the BRIC nations, all of which are rapidly industrializing countries with massive populations. Other emerging economies have also increasingly ramped up petroleum consumption. Before the global financial crisis, the BRIC economies experienced strong growth from 2004 to 2007, with the European Union and United States leading demand for their manufactured goods. Therefore, companies in each region have rapidly expanded their infrastructures and services to support the booming trade sectors over the past five years. This rapid development has increased worldwide demand for resources, which has led to soaring commodity prices for oil and natural gas, benefiting exporting countries, especially Russia. In 2015, the BRIC nations' GDP is expected to continue growing, but at a slower pace than in previous years, as international trade slowed down following the global economic downturn. The United States is the largest energy consumer in the world, and increasing US petroleum production lowered the country's demand for imported fuel. Nevertheless, due to the recovery from recessionary lows, international oil and gas trade is anticipated to grow an average of 4.1% pe r year to $2.1 trillion in the five years to 2015. Prices recover The price of oil is forecast to increase over the next five years, largely because oil is continuously becoming more expensive to extract. Areas like the Middle East, which contain major world oil reserves, will continue to remain under constant tension. In addition, increased regulation remains a threat for offshore drilling in the United States following the oil spill in the Gulf of Mexico. IBISWorld forecasts a relatively gradual rise in the price of oil over the next five years as the world economy and, therefore, world demand for oil, recovers from the recession. However, downward forces on the price of oil will continue. As oil becomes more expensive, the incentive to invest in research for alternatives will also rise. While cars are becoming increasingly fuel efficient, new models are expensive and only widely available in North America and Europe; the global focus on developing fuel-efficient vehicles will likely increase, with countries like China actively seeking to expand their electric vehicle fleet. In addition, substitutes for oil, such as natural gas and biofuels, are increasingly being used as companies try to diversify and decrease their reliance on oil. Lastly, global demand for oil is threatened by a slowdown in emerging economies. In particular, China's GDP growth is anticipated to moderate in the coming years, which can potentially hinder demand for, and the price of, crude oil. Nevertheless, the world price of crude oil is anticipated to grow at an average annual rate of 5.1% in the five years to 2020. The Global Oil and Gas Exploration and Production industry is subject to a high level of competition. In general, the industry faces competition on two levels: internal and external. Internal competition regards competitive factors common to all or most companies within the industry, while external competition represents threats based in other industries, substitute products or from imports. Internal competition Global oil and gas companies compete on the basis of price, although other factors, such as crude oil grades, impurity levels and the costs of extraction also play a role. Competition between oil and gas as fuels is very limited because the two products serve different markets. In the case of oil, the main end-market is that for transport fuels, while for gas, the major markets are electricity generation and gas supply. In addition, a cartel comprising major oil producers known as the Organization of the Petroleum Exporting Countries, or OPEC, aims to have a leveling effect on competition levels. OPEC's goal is to coordinate and unify petroleum policies among member countries. Prior to the rise of OPEC, large oil companies that possessed the necessary technology and skills for exploration and production dominated the oil sector. At least in part, OPEC was formed to reduce the influence of oil multinationals that had a monopoly on technology. OPEC does not set oil prices, but because the OPEC countries produce about 40.0% of the world's oil supply and their exports account for about 60.0% of the total export in oil, their decisions influence price movements. The purpose of OPEC is to agree on the quantity and price of the oil that member countries export, which lowers competition. External competition The industry faces limited but growing competition from other fuels. Oil faces competition from biodiesel (a corn- or soy-based substitute for automotive distillate) and ethanol (typically blended with gasoline, rather than used as a replacement fuel) as the basis for transport fuels. 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