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
外语
Oil and Economy Could the bad old days of economic decline be about to return? Since OPEC agreed to supply-cuts in March, th
Oil and Economy Could the bad old days of economic decline be about to return? Since OPEC agreed to supply-cuts in March, th
admin
2011-05-18
90
问题
Oil and Economy
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 memories of the 1973 oil shock, when prices quadrupled, 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 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 in the oil price. Energy conservation, 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 (inconstant 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%.
From the text we can see that the writer seems______.
选项
A、optimistic
B、sensitive
C、gloomy
D、scared
答案
A
解析
本文作者主要讲的就是这次油价上涨的影响不大。尤其是第三段和最后一段的第一句话,强调人们不必担心此次油价上涨,因为这一次的情况与20世纪70年代不同。由此可见作者的态度是乐观的。
转载请注明原文地址:https://kaotiyun.com/show/EgLd777K
本试题收录于:
职称英语理工类A级题库职称英语分类
0
职称英语理工类A级
职称英语
相关试题推荐
A.toavoidunpleasantthingsinlifeB.inlookingonthebrightsideoflifeC.lesslikelytocatchcoldD.howonelookson
Itisverydifficultforachildtoadheretorules.
15MillionAmericansSufferfromSocialAnxietyDisorderSocialanxietydisorderpreventssome15millionAmericansfromlea
Inthesituationcomedy,atraditionalformatfortelevisionshows,thesamecharactersappearrepeatedlyinhumorousepisodes.
HowtheBodyKeepstheSameTemperatureThetemperatureofyourbodyshouldbealwaysjustthesame,nomatterwhethertheweath
Accordingtothepassage,howcanyoulearnthatmanypeopleareuneasyaboutinformationtechnology?Thewritergivestheexam
TheMirSpaceStation1TheRussianMirSpaceStation,whichcamedownin2001atlastafter15yearsofpioneeringtheconcept
Manyoftheirideasarebeingincorporatedintoorthodoxmedicaltreatment.
EconomicReforminChinaMoreUSsinologistshaveexpressedconfidenceinChina’seconomicreformandtheprospectsforChina’s
TheRisingOilPriceCouldthebadolddaysofeconomicdeclinebeabouttoreturn?SinceOPECagreedtosupply-cutsinMar
随机试题
下列符合胫骨结节骨软骨病的是
题1~4:某多层配筋砌块剪力墙房屋,总高度26m,抗震设防烈度为8度,设计基本地震加速度值为0.20g。其中某剪力墙长度5.1m,墙体厚度为190mm,如图1-18所示。考虑地震作用组合的墙体计算截面的弯矩设计值M=500kN.m,轴力设计值N=1300k
“明礼诚信”是中华民族的传统美德,这说明道德具有()。
妈妈为小楠和小董榨了两杯同样容量的鲜果汁,分别装在大小不同的两个玻璃杯里,妈妈让小楠先拿,小楠说“我要这杯多的”,小董在旁边说“其实两杯是一样多的”。根据两姐妹的回答,可以判断出小楠和小董分别处于()
2003年浙江省的进出口总额为( )。机电产品的进口额占当年进口总额比重最小的是( )。
有人认为允许非公有资本进入法律法规未禁入的基础设施、公用事业及其他行业和领域,其结果必然是经济私有化,该观点()。
Humanlanguageisthesubjectofendlessscientificinvestigation,butthegesturesthataccompanyspeechareasurprisinglyneg
Whenyouareabout______throughthestory,trytomakeaguesshowtheplotwilldevelop.
Directions:Inthispart,youwillhave15minutestogooverthepassagequicklyandanswerthequestionsonAnswerSheet1.Fo
Theselfishnessofhumansisacentralassumptionoforthodox(传统的)economics,whereitisthoughttoleadtobenefitsfortheeco
最新回复
(
0
)