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
The Rising Oil Price Could the bad old days of economic decline be about to return? Since OPEC agreed to supply-cuts in Mar
The Rising Oil Price Could the bad old days of economic decline be about to return? Since OPEC agreed to supply-cuts in Mar
admin
2010-01-14
61
问题
The Rising Oil Price
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 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 dame 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 economics 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 (in constant prices) rich economics 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。由一段第二句可知:世界原油价格的上涨是因为OPEC决定减少供应。
转载请注明原文地址:https://kaotiyun.com/show/arhd777K
本试题收录于:
职称英语理工类基础题库职称英语分类
0
职称英语理工类基础
职称英语
相关试题推荐
ItiscommonlyacceptedinAmericansocietythattoomuchsleepis______.Thepurposeofthisarticleisto______.
AHealthProfileAhealthprofileisaportraitofallofthefactorsthatinfluenceyourhealth.Todrawyourhealthprofile,y
AHealthProfileAhealthprofileisaportraitofallofthefactorsthatinfluenceyourhealth.Todrawyourhealthprofile,y
ComputerNeedsEmotionThenextbigbreakthroughinartificialintelligencecouldcomefromgivingmachinesnotjustmorelo
KnowingYourRealPersonalityfromSleepingPositionsEveryonehasgottwopersonalities—theonethatisshowntotheworld
TheindustrialrevolutionmodifiedthewholestructureofEnglishsociety.
NaturalMedicinesSinceearliestdays,humanshaveusedsomekindsofmedicines.Weknowthisbecausehumanshavesurvived.A
Ihavenoalternativebuttoreporthimtothelocalpolice.
Throughoutmostoftheirlives,humanbeingsperpetuallylearnandincreasetheirmentalcapacities.
HowTwoGreatConflictsHelpedtoChangeEuropeNinetyyearsagoonasunnymorninginNorthernFrance,somethinghappenedt
随机试题
下列各组词中全是连绵词的是()
射野影像照像包括以下几种类型
患者,男,40岁。90%完全脱位牙需进行再植,可避免牙根吸收的时间是在外伤后
泻下药主要的药效物质基础不包括()。
古蔡法中,SnCl2的作用有
下列关于人民法院适用变更判决表述正确的是:
萌芽于16世纪、兴起于17世纪,经夸美纽斯总结、改进和理论升华的教学组织形式是()。
“定本”制度(暨南大学2018、2017年研;广西大学2018年研;中国传媒大学2011年研)
Everyprofessionortrade,everyart,andeverysciencehasitstechnicalvocabulary,thefunctionofwhichispartlytorefert
Westartedtheattackwhentheenemy(cross)______theriver.
最新回复
(
0
)