Please answer the following questions

The graph below shows the oil price changes over the last 150 years. Please read and answer the following questions. Source: https://commons. wikimedia. org/windex.php?curid=4040114 1. What factors determine the demand of oil? 2. What factors determine the supply of oil? 3. How would the following events or factors affect the oil price? Please use the demand-supply diagram to illustrate your analysis. 3.1 1973 Oil Crisis. also known as Yom Kippur War 3.2 New Energy and energy-saving technology 3.3 Emerging Economies 4. Is the price elasticity of demand for oil elastic or inelastic? And why? How is the elasticity different in short run or long run? 5. What is OPEC? Is it a Cartel? 6. Is the world oil market a competitive, monopoly. monopolistic competitive, or oligopoly market? And why? 7. Is there any externality of the production and consumption of oil? Please use examples to explain your answers. 8. Should the government intervene the production or consumption of oil? For instance, taxes. subsidies, quotas. What policies do you suggest and why? 9. Please check the oil price fluctuations since 2019 until now, and present the data or graph of your searching result. What significant changes do you observe? Please explain the reasons for the fluctuations in oil prices