Question 1: Please discuss one product that operates off of oil and gas power. T

Question

Question 1: Please discuss one product that operates off of oil and gas power. This can be any product, however once the product is mentioned in the discussion it cannot be reused. Make sure you go through every post to ensure your product has not been discussed.

Regarding your product please answer the following questions:

• Define the target audience of the product
• List 3-5 benefits of using the product
• List 3-5 downfalls of the product
• Identify the price points for the product

Question 2: Explain the Peak Oil Controversy.

Question 3: Identify OPEC’s role in price setting

Explanation / Answer

1. A product, which runs on oil and gas power, is car.

2. Peak Oil controversy is a theory, which states that a point might come in future where the production of oil and gas will be at its peak and will start to decline forever. Some consider this theory as a myth as no analysis has been able to prove or predict the same. However, as oil is a non-renewable resource, the probability of occurrence of peak oil can’t be denied.

3. OPEC is Organization of the Petroleum Exporting countries. The exporting capacity of the OPEC nations is the biggest influencer of the pricing policy adopted for global oil. OPEC has the power to restrict production of oil, which may lead to a rise in oil prices globally.

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