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Question: Go to the following website: Europe's oil capital feels the pinch (By Stephen Beard) and read AND listen to the story about British oil workers who experienced a boom and bust in employment in the oil drilling sector. Find (and CITE in your response) a couple of articles or websites that talk about the falling price of oil and its effect on EMPLOYMENT. Then, write your responses to the following prompts:

a. Briefly summarize the Marketplace.org story as well as the other research you have conducted

b. Oil drilling created boom (big, large, explosive expansion) in employment, companies were scrambling for employees to fill thousands of positions in the United States. Discuss WHAT IMPACT this frenzy to find employees had on WAGES and WHY.

c. What impact did the rapid growth in drilling, in places such as Nebraska, North and South Dakota and Alaska have on the labor force? For example, was this the opportunity for anyone-regardless of skill level, education or ability to find a high-paying job-even if it was for a short period?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93137582

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