Internal combustion engine

Internal combustion engines had its first use as far back as the 13th century used to propel missiles in the form of rockets. Its incremental advances through the centuries lead to the development of today's reciprocating 4 and 6 stroke engines and other variants such as the Wankel engine. Its practical use was not realized until the discovery of vast petroleum reserves and improvements in crude oil drilling techniques. The term internal combustion is not exclusively tied to the common and popular use in today's car engines. Gas turbines, jet engines and rocket engines all of which are applied to ships, aircraft and space vehicles use internal combustion as its primary power source. The technology relies mainly on combustion of fuel inside a piston that applies the force into the movable parts of the engine. Combustion temperature and power also relies on the chemical composition of the type of fuel used. The application of the 4 stroke reciprocating engine on today's cars has increased the demand for fuel and thus propelled the economies of oil producing countries in the Middle East. The type of engine design depends partly on the fuel used. Although same in design, Diesel and gasoline engines have few minor differences such as a spark plug which is non-existent on Diesel engines due to a higher fuel flash point. Internal combustion engines does more than propelling Aircrafts and cars, it can be said that at the core of a country's economy lies the internal combustion engine that powers it too.

Today's markets rely very heavily on internal combustion engines, from small leisure trips to completing business transaction by means of delivering final goods. Internal combustion engines have set economic sensitivity levels to the price of its fuel, crude oil. Since society has become so reliant on automobiles to get around, serious price inflation on fuel affects the health of any given market. The worldwide economic boom of the mid 2000's has been slowed by a combination of loose credit and excessive speculation on capital markets. With it came the speculation on crude oil futures that reached well over $100 a barrel. The rise in the price of fuel may have limited a majority of people from making routine trips to go shopping. An eroding buying power from an increase in fuel prices bundled with choking high interest rates helped spark the decline in economic activity. The scenario with high fuel prices helped push the switch to cleaner and renewable energy sources. The internal combustion engine's future hangs on the scale of its fuel price. Whether or not the price of crude would settle at a reasonable level, alternative means of propulsion is being pushed hard by governments worldwide. This is in response to the demand of loosening their economic bounds with the fluctuating prices of crude oil. Views on these policies seem to vary, as this directly affects the economic state of countries that depends on oil exports such as those in the Middle East. However, this imminent change is being taken seriously in the UAE. The Emirate is slowly transforming its economy from a pure oil play to a major tourist destination.

Internal combustion engine manufacturers
General Electric co.(NYSE : GE)  US
Ford Motor Co. (NYSE: F)  US
Toyota Motor Corp. (NYSE: TM)   Japan
Honda Motor Co. (NYSE: HMC)  Japan