BTEC P4 Unit 7 'Increased costs.' Give 3 examples including cause and impact.

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1. War in Iraq – effecting the oil crisis:
Nowadays the war in Iraq has been effecting the oil price in a negative way. Because of the war, the oil price has risen dramatically.
When the war just started (2003-2004), an oil bar was $24,- a barrel. It went up to $143,- in 2011 and nowadays the price fell down to $122,80 which is still almost 5 times the price it was before the war. The rise of the oil price has been a disaster for all the people around the world because the benzene/gas prices have risen driving a car has become very expensive. When you load your car with fuel (Euro95 in Holland) you need to pay between €1.654 and €1.714 per litter. The product made out of oil have become 3 times as expensive ( cars, machinery, candles, plastic bags, furniture)

Conclusion: Nowadays normal products have become very expensive and driving a car will make you broke.

2. Earthquake Japan ( Fukushima) – effecting the nuclear energy: 11 March 2011, the earthquake nearby Sendai in the ocean caused the nuclear disaster around Fukushima. This nuclear disaster was a series of equipment failures – nuclear meltdowns – releases of radioactive materials at the ‘Fukushima Nuclear Power Plant’. This nuclear disaster was followed with an earthquake and a tsunami named Tõhoku at level 7. 28000 people were dead or missing, and at least 500000 people were displaced The Japanese population is very mad and worried over all the Nuclear Power Plants. Nowadays, 1 year after the Nuclear disaster in Fukushima, Japan closed down 52 of all 54 Nuclear Power Plants, 2 are still open. The change of another Nuclear disaster is now very low and it’s better for the environment. Although this Nuclear disaster has affected the use of Nuclear energy and the economic market in Japan in 2011. The World Bank estimated that Japan's disaster would cost between $100 and $235 billion dollars, and take five years to rebuild. This is worse than the $125 billion cost estimate for Hurricane...
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