首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
Could the bad old days of economic decline be about to return? Since OPEC agreed to supply-cuts in March, the price of crude oil
Could the bad old days of economic decline be about to return? Since OPEC agreed to supply-cuts in March, the price of crude oil
admin
2014-11-24
130
问题
Could the bad old days of economic decline be about to return? Since OPEC agreed to supply-cuts in March, the price of crude oil has jumped to almost $ 26 a barrel, up from less than $ 10 last December. This near-tripling of oil prices calls up scary(可怕的)memories of the 1973 oil shock, when prices quadrupled(成四倍), and 1979—1980, when they also almost tripled. Both previous shocks resulted in double-digit inflation and global economic decline. So where are the headlines warning of gloom and doom this time?
The oil price was given another push up this week when Iraq suspended oil exports. Strengthening economic growth, at the same time as winter grips the northern hemisphere, could push the price higher still in the short term.
Yet there are good reasons to expect the economic consequences now to be less severe than in the 1970s. In most countries the cost of crude oil now accounts for a smaller share of the price of petrol than it did in the 1970s. In Europe, taxes account for up to four-fifths of the retail price, so even quite big changes in the price of crude have a more muted(温和的)effect on pump prices than in the past.
Rich economies are also less dependent on oil than they were, and so less sensitive to swings(摆动)in the oil price. Energy conservation(节约), a shift to other fuels and a decline in the importance of heavy, energy-intensive industries have reduced oil consumption. Software, consultancy and mobile telephones use far less oil than steel or car production. For each dollar of GDP(in constant prices)rich economies now use nearly 50% less oil than in 1973. The OECD estimates in its latest Economic Outlook that, if oil prices averaged $ 22 a barrel for a full year, compared with $ 13 in 1998, this would increase the oil import bill in rich economies by only 0.25% ~0.5% of GDP. That is less than one-quarter of the income loss in 1974 or 1980. On the other hand, oil-importing emerging economies — to which heavy industry has shifted — have become more energy-intensive, and so could be more seriously squeezed.
One more reason not to lose sleep over the rise in oil prices is that, unlike the rises in the 1970s, it has not occurred against the background of general commodity-price inflation and global excess demand. A sizable portion of the world is only just emerging from economic decline. The Economist’s commodity price index is broadly unchanging from a year ago. In 1973 commodity prices jumped by 70% , and in 1979 by almost 30% .
The main reason for the latest rise of oil price is______.
选项
A、global inflation
B、reduction in supply
C、fast growth in economy
D、Iraq’s suspension of exports
答案
B
解析
细节题。本题的答题依据是第一段第二句话:Since OPEC agreed to supply—cuts inMarch, the price of crude oil has jumped to almost $26 a barrel, up from less than $10 lastDecember(自从石油输出国组织在3月决定减少原油供应以来,原油的价格已从去年12月的不到10美元一桶上涨到约26美元一桶)。由此可知,B项为正确答案。
转载请注明原文地址:https://kaotiyun.com/show/2rK4777K
0
考研英语一
相关试题推荐
Comparisonsweredrawnbetweenthedevelopmentoftelevisioninthe20thcenturyandthediffusionofprintinginthe15thand1
WorkisaveryimportantpartoflifeintheUnitedStates.WhentheearlyProtestant【C1】______cametothiscountry,theybrough
MarineLifeIftheCensus.BureauthinksithasitshandsfullcountingAmericans,imaginewhatscientistsareupagainstin
NetworkInformationSafetyinSchoolUniversityletterstostudentsandalumniareusuallycheerful.ButtheUniversityofC
TheDeclineofU.S.ImmigrationApplicationImmigrantsaren’tseekingU.S.citizenshipasoftenthesedays—notsincetheAme
TheOilProducesWorldoilproductionisabouttoreachapeakandgointoitsfinaldecline.Foryears,ahandfulofpetrol
EmergingEconomicPowerfulCountryAfterEconomicCrisisItisbecomingincreasinglyclear-thatthestoryoftheglobalecon
Sometimeswehavespecificproblemswithourmother;sometimes,lifewithhercanjustbehardwork.Iftherearedifficultiesi
Comeon—Everybody’sdoingit.Thatwhisperedmessage,halfinvitationandhalfforcing,iswhatmostofusthinkofwhenwehear
Smoking,whichmaybeapleasureforsomepeople,isaserioussourceofdiscomforttotheirfellows.(1)_____,medicalauthorit
随机试题
社会再生产的核心问题是()
Word中在查找和替换对话框中,单击()标签后才能进行替换操作。
简述课外校外教育的主要内容。
患者,女,60岁,因呼吸困难就诊,经检查发现双侧胸腔积液,右侧为主,给其抽液时20min内抽液1000ml,之后约30min出现呼吸困难,端坐位,咳嗽,咳泡沫样痰,既往冠心病史5年,反复双下肢水肿,这种情况应考虑
房地产出租人的诉求包括()。
未填明实际结算金额和多余金额或者实际结算金额超过出票金额的银行汇票,银行不予受理。()(2014年)
2016年是全面建成小康社会决胜阶段的开局之年,也是推进结构性改革的攻坚之年。做好经济工作要()。
根据《治安管理处罚法》第19条的规定,减轻处罚或者不予处罚的情形包括()。
下列清代官员的补服图案表示武官品级的是()。
在软件开发中,应从()开始准备初步的用户手册。
最新回复
(
0
)