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
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
2010-01-10
118
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 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 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 terra,
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 retails 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 reduces 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 1978. 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 e merging 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
细节理解题。由第一段第二句“Since OPEC agreed to supply-cuts in March,the price of crude oil has jumped to almost...”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/i56K777K
0
专业英语四级
相关试题推荐
A、AI’sefficiency.B、AI’seffectonhumanbeings.C、AI’sfuturedevelopment.D、AI’spotentialtechnologicalrisks.B
HowtoBeRespectfulofYourParentsChangingyourthoughtsandfeelingsaboutyourparents-begrateful—showgratit
Thefollowingtwoexcerptsareaboutschooluniform,auniformthatiswornbystudentsprimarilyforaschoolorotherwiseeduc
HowtoCommunicateEffectivelyGeneralinformationoncommunication—It’saskillyoucanlearn.—Communicationsison
Somelocaleducationcommissionsrecentlyannouncedteacherswhohaveacceptedgiftsorcashfromstudentsortheirparentswill
(1)SomepeoplelearnedeverythingtheyknowaboutKazakhstanfromBorat,thebuffoonishjournalistplayedbySachaBaronCoheni
(1)TheParis-basedInternationalEnergyAgency(IEA),initsannualforecast,saidanumberoffactors,includingthesoaringcos
HowtoWriteaResearchReportAstandardformatwillhelpreaderstolocatetheinformationtheywantquickly.Itistruet
TheviewfromMrs.Manstey’swindowwasnotanunusualone,buttoher,atleast,itwasfullofinterestandbeauty.Mrs.Manst
Asneezecannotbeperformedvoluntarily,________beeasilysuppressed.
随机试题
发起设立方式和募集设立方式的理解。两种设立方式各自的特点。
A.病邪由表入里B.病证由实转虚C.病证从阳转阴D.病虽近而邪渐聚病人面色由浮转沉提示
单侧唇裂采用下三角瓣法修复的优点是
主治痰热咳嗽的代表方是由二陈汤加枳实、竹茹组成的方剂
满足《公路工程基桩动测技术规程》(JTG/TF81-01—2004)对用于超声波透射法检测桩身完整性的检测仪的规定的有()。
2013年江苏银行面试真题你刚开始工作,办业务比较慢,客户不是很满意,你怎么处理?
担保物权人在其全部债权受清偿前,可以就担保物的全部行使权利,这体现的是担保物权法律属性中的()。
以下是正确C语言实型常量的是()。
A______ofherfirstnovelappearintheNewYorkeryesterday.
A、Thehumanrights.B、Theirpoliticalachievements.C、Thelocationofthecapital.D、Theabolitionofslavery.C细节题。短文开头提到,在美国成立
最新回复
(
0
)