Connor Kincheloe

Term Project Update

3/15/14

I. Topic a. For my project, I have decided to examine OPEC and its role within

the oil market. OPEC controls 81% of the world crude oil preserves, according to opec.org, and it is interesting to observe such a major player in the market. Through the early portion of class, we have looked at conflicts between national and firm interests; OPEC attempts to combine the two. Despite having such a large market position, that does not exempt them from having to adjust to changing market conditions. Right now with the demand for oil continuing to rise, and new sources, both conventional and unconventional, are being utilized. With this project, I will look to see how OPEC is adjusting to these trends, while taking into account the changing oil demand that is occurring regionally.
i. Per your advice, I have cut one of my subtopics out from the project due to the page limit. My two subtopics will be the following: 1. How will OPEC respond to the new, unconventional sources of oil, focusing on the growth of North American Shale Oil 2. How will OPEC respond to the changing demand and growth of China. II. List of Databases Searched a. I have searched the following databases: OnePetro, EnergyWire b. I have done general searches using LionSearch, which covers all PSU databases III. Books or Articles having trouble gaining access to a. I am having a hard time gaining access to OnePetro articles. Although PSU has a subscription to it, it says you must purchase articles to view them. When we return from Spring Break, I will be contacting a librarian for help. IV. Word Cloud using an inspiring article a. Next Page V. One map reference; Title, PSU Call Number, How it applies a. Unconventional energy resources of North America i. G3301.N3 2003.A5 ii. This map will show all of the unconventional resources, including shale oil, that North America has. This help to show the abundance that North America has, and why it is threatening to OPEC. VI. One book from PSU Lionsearch; Title, Call Number, How it applies a. Handbook of Oil Politics by Robert Looney i. HD9560.6.H27 2012

ii. It is important to understand the politics behind the markets, as OPEC has a strong political influence. Part 3 of the book touches on the political power, and main regional themes, that are present in the Middle-East and Latin America, encompassing many OPEC countries