Personal Statement on Quantifying the Impact of Oil Price Order Instructions: Personal Statement on Quantifying the Impact of Oil Price Personal statement for dissertation (Quantifying the impact of an oil price drop on future Manpower needs in UK O &G

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Personal Statement on Quantifying the Impact of Oil Price Sample Answer

Personal statement for dissertation (Quantifying the impact of an oil price drop on future Manpower needs in UK O &G

Economic growth and development are inextricably connected to energy. Based on this, I will develop research that will evaluate the impact of the oil price drop on future Manpower needs in UK O & G. That is; the study will quantify the impact the fluctuation of the oil and gas prices in the United Kingdom will impact on the future employment. In fact, labor and energy are the major components England used as enabling industrial revolution. Therefore, investigating these two intertwined factors is imperative. This is because the decrease in oil prices in a contemporary world has a significant positive impact on employment in other economy industries that are dependent on oil and gas products due to increased economic activities but with a corresponding decrease in employment in oil and gas sector. In that light, I will first test whether there is a significant association between the year and the number of employees in the oil and gas sector.  Through this, it will be easier to determine whether the decline in the price is associated with the current experienced low oil and gas’s prices.

I have been fascinated by how these factors are interrelated and using quantitative statistical approach; analysis can be done to understand them better. I will be in a position to understand the following concept through this study:

• Whether the number of employees differs significantly by year.
• Whether there is a significant decrease in the price of oil in the United Kingdom.
• Model the scenario so that I can understand the dramatic and unexpected drop in gas and oil price’s effect on the UK upstream oil and gas workforce.
• What type of skills profiles and demand in the upstream oil and gas workforce?
• Which skills set have been most impacted?
• Illustrate the future Manpower needs of UK upstream workforce using statistical graph based on the production data.
• The responsibility of UK’s oil and gas industry human resources do towards employment in this sector.

The coverage of this research was aroused by the need to understand the role played by the oil and gas sector in the UK economy, and the long-run effect of the decreasing oil and gas prices. I will use the year 2010 as the base year and 2020 as the target year in three case scenarios; I was interested in using a statistical approach to generate reliable and valid findings. In the first scenario, the price remains as low as ($50/barrel), Scenario 2: Oil and gas price in 2020 increases gradually to $73/barrel and Scenario 3: Gas and oil price in 2020 gradually to$108/barrel. Through these scenarios, I will analyze the effect of prices changes on the GDP, employment in the UK.

By the end of the research, I will give a conclusion which will focus on the impact of an oil price drop on future Manpower needs in UK O & G. The findings will be crucial in discussing the association, and impact of oil and gasses prices shift in the employment requirements in the UK. Based on these results, the recommendation will be given, ion what the stakeholders of this sector can do to uphold higher returns and economic development. Since this sector plays a significant role in any economy.