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
2017-11-14
22
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 in March,the price of crude oil has jumped to almost $26 a barrel,up from less than $10 last December(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/PYIZ777K
0
考研英语一
相关试题推荐
"TheHeartoftheMatter,"thejust-releasedreportbytheAmericanAcademyofArtsandSciences(AAAS),deservespraiseforaff
By1830theformerSpanishandPortuguesecolonieshadbecomeindependentnations.Theroughly20million【C1】______ofthesenati
Comparisonsweredrawnbetweenthedevelopmentoftelevisioninthe20thcenturyandthediffusionofprintinginthe15thand1
AncientGreekphilosopherAristotleviewedlaughteras"abodilyexerciseprecioustohealth."But【C1】______someclaimstothec
Mostworthwhilecareersrequiresomekindofspecializedtraining.Ideally,therefore,thechoiceofan【C1】______shouldbemade
ShoppinghabitsintheUnitedStateshavechangedgreatlyinthelastquarterofthe20thcentury.【C1】______inthe1900smostAm
Awisemanoncesaidthattheonlythingnecessaryforthetriumphofevilisforgoodmentodonothing.So,asapoliceoffice
Australianchildrenarevisitingsocialmediawebsitesatanincreasinglyyoungerage,anewsurveysuggests,withoneinfive"
Cryingandwakingupinthemiddleofnightareroutineduringanynewborn’sfirstfewmonths.Butifthosecryingepisodescont
Bigcompaniesswallowlittleoneseveryday.Sothe【C1】______onMarch25thbyYahoo(annualrevenue,$5billion)ofSummly,aBr
随机试题
在下列的氧化还原系统中,氧化还原电位最高的是
王某,女,64岁。高血压史幺年。今早起床时出现左侧肢体活动不利,偏身麻木,口舌歪斜,流涎语謇,头痛且重,眩晕恶心,健忘痴呆,纳少。舌质紫暗,苔白腻,脉弦滑。查体:左上、下肢肌力为Ⅰ级。检查:头颅CT示左侧基底节区脑梗死。治宜
男性,38岁,3周来乏力、纳差。近3天发热、呕吐、尿黄,血ALT800U/L、总胆红素248μmol/L体检:精神差,巩膜、皮肤明显黄染.腹部胀气明显,肝、脾肋下未及,下肢皮肤可见散在瘀点,HBV-M示HBsAg(+)、HBeAg(+)、抗HBc-
()又称甘特图,是一个二维平面图,横维表示进度或活动时间,纵维表示工作内容。
达不到合理用能标准和节能设计规范要求的项目,依法审批的机关不得批准建设;项目建成后,达不到合理用能标准和节能设计规范要求的,不予验收。()
下列有关自然人民事权利能力的说法中,正确的是()。
AlltherecentnewsonAIDSisbad.ThedeathofRockHudson【C1】______publicconcernaboutthe【C2】______almosttothepointof
关于中国革命道德和社会主义道德的关系,下列表述正确的是()
(1)在名称为Form1的窗体上添加一个名称为Shape1的圆角矩形,高、宽分别为1000、2000。请利用属性窗口设置适当的属性以满足下列要求:①圆角矩形中填满绿色(颜色值为:&H0000FF00&或&HFF00&)。②窗体的标题为“
BaruchSpinozawasaDutchphilosopherandreligiousthinkerwhowasbornonNovember24,1632inAmsterdam.HisfamilywasSpan
最新回复
(
0
)