Evaluation Report on Oil & Gas Producing nations Essay

Evaluation Report on Oil & Gas Producing nations - Essay Example The trade policies help in enhancing trades for the benefit of economies. Oil and gas industry mainly ties up with the government for the development with the help of monetary and fiscal policies (Mitchell & et. al., 2012). The objectives of Oil and Gas industry is to expand and enhance security of energy and economic, re-distribution of wealth, economic development, which can be achieved by applying the policies of government of Oil or Gas producing nation. With the help of political influence, the government of the Oil or Gas producing nation indulges into commercial practices for increasing the revenues of the nation as well as the economies of scale. For improvement of the Oil or Gas producing nation the government should take the advice of the outsiders for greater expansion (Petroleum Council, 2013). Government are taking relevant advices from the outsiders to seek advice regarding the policies that are implemented by nation. The government implements various taxes and with the help of the advisers, assistance is taken regarding its applicability. The advice from the outsiders can help the government to obtain the new idea as well as strategy of the outsiders and obtain the knowledge of the new technology along with policies relevant. The new idea along with new technology can be beneficial for the economic development of Oil or Gas producing nation. Exploration and development investment is an important concept for the industry and thus considering outsiders view to a certain extent might prove to be effective in this context. Advice from the outsiders can also be helpful for the Oil or Gas producing nation for developing innovative new ideas by incorporating the same for a better market position in the global market based on the trade policies and tax system (European Communities, 2008). With the advice from outsiders, the government of Oil or Gas producing nation can obtain knowledge