The essay can be written on any economic concept you see in the picture.
The following reference materials guide you to books on general economic
thinking and Web sites on economic issues regarding energy, petroleum and
Recent Book and Web Site Discoveries
Baumol, William J., and Blinder, Alan S. Economics: Principles
and Policy. 6th ed. Harcourt Brace & Company. New York, 1994, pp.
Note: This textbook explains the formation and market influence of cartels,
such as the Organization of Petroleum Exporting Countries (OPEC).
Heyne, Paul. The Economic Way of Thinking. 8th ed. Prentice
Hall. Upper Saddle River, NJ, 1997.
Note: OPEC and the oil crisis of the early 1970s are mentioned throughout
the book. Look up OPEC in the index; you will find some very good economic
McConnell, Campbell R., and Brue, Stanley L. Economics: Principles,
Problems, and Policies. 11th ed. McGraw-Hill. New York, 1990, pp.
629-632. Note: This textbook uses the oil crisis of the early 1970s as
an example to discuss market relationships in a general equilibrium framework.
American Petroleum Institute provides
an overview of current news in the energy sector.
read about the degree to which recent increases in energy costs have affected
OPEC offers history and current events
WTRG Economics includes a history
of oil prices and analysis on fluctuations in oil prices. The site provides
a broad view of the energy sector.
Buchholz, Todd G. New Ideas from Dead Economists. Penguin
Books USA. New York, 1989. (Chapter Two pp. 10-41)
Friedman, Milton and Friedman, Rose. Free to Choose, A Personal
Statement. Harcourt Brace Jovanovich. New York, 1980. (Chapter
One pp. 9-37)
Kuttner, Robert. The End of Laissez-Faire. University of
Pennsylvania Press. Pennsylvania, 1991.
Mankiw, Gregory N. Principles of Economics. Harcourt Brace
College Publishers. Philadelphia, 1997.
Australian Institute of Petroleum—including
Pricing of Crude Oil and Petroleum Products—a discussion of the factors
that have influenced the price of oil.
Beige Book Archive—reports on economic conditions
from 1970 to the present.
Energy Information Administration—energy
data from 1970s, summary of oil prices and production history, analysis
on shortages during the 1970s, 25th anniversary of the 1973 oil crisis
United States Department of Energy—current
and historical information about energy in the U.S. You may find the page
about the Strategic Petroleum Reserve interesting.
United States Environmental Protection