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
2014-06-13
64
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 shock, when prices quadrupled, and 1979-80, when they also almost tripled. Both previous shocks resulted in double-digit inflation and global economic decline. So there are the headlines warning of gloom and doom this time?
The oil price was given another push up this week when Iraq suspended oil experts. Strengthening economic growth, at the same time as winter grips the northern hemisphere, could push the price higher still in the short item.
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, tuxes 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 (in constant prices) rich economies now use nearly 50% less oil than in 1973. The OECD estimates in its latest Economic Outlook that, 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 se could he more seriously squeezed.
One more reason net 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%.
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
文章细节事实题。题干要求从文章中找出最近一次石油涨价的主要原因。文章第一段提到,自从三月份石油输出国组织(OPEC,Organization of Petroleum Exporting Countries)同意减产,原油的价格已经涨了近三倍。第二段提到,油价这个星期因伊拉克停止石油出口又一次被抬升。强劲的经济增涨势头,再加上冬季笼罩了北半球,可能在短期内使油价涨得更高。从某种意义上讲,这些都是油价上涨的原因,但不是主要原因。
转载请注明原文地址:https://kaotiyun.com/show/q1K4777K
0
考研英语一
相关试题推荐
Intherelationshipofeducationtobusinessweobservetodayafinestateofparadox.Ontheonehand,theemphasiswhichmost
Lowlevelsofliteracyandnumeracyhaveadamagingimpactonalmosteveryaspectofadults,accordingtoasurveypublishedyes
Generallyspeaking,aBritishiswidelyregardedasaquiet,shyandconservativepersonwhois【C1】______onlyamongthosewithw
Youareinterestedinapositionofeditorofferedbyacompany.Writealetterofapplicationtothemtoexpressyourintention
Untilthelate1940swhentelevisionbeganfindingitswayintoAmericanhomes,companiesreliedmainlyonprintandradiotopr
Untilthelate1940swhentelevisionbeganfindingitswayintoAmericanhomes,companiesreliedmainlyonprintandradiotopr
Writeanessayof160—200wordsbasedonthefollowingdrawing.Inyouressay,youshould1)describethedrawingbriefly,2)
Forthepast250years,politiciansandhard-headedmenofbusinesshavediligentlyignoredwhateconomics,hastosayaboutthe
Thepresidentappealstolaborandmanagementtoholddownwagesandprices,butsaysnotawordaboutanycontrolstobeimpose
SirRichardFriendisatoughmantotrackdown.PhonecallstohistwolabsatCambridgeUniversitygounanswered,andsodoe-
随机试题
简述法律权利及其特点。
Agoodwayto______(large)yourvocabularyistoreadadailynewspaper.
A.战汗B.自汗C.黄汗D.盗汗E.脱汗
患者,男,25岁。因昏迷而送来急诊。查体:深昏迷状态,呼吸有轻度大蒜味,疑为有机磷中毒。下列哪项对诊断最有帮助
开发经营企业申请办理《商品房预售许可证》时应当提交的证件(复印件)及资料包括( )。
外国人杰瑞在A市涉嫌危害国家安全犯罪,其女友林某因作证而面临人身安全危险。公安机关对林某应采取的正确保护措施有:
“国有贤良之士众,则国家之治厚;贤良之士寡,则国家之治薄”。人才,尤其领导人才,如何科学准确地识别、选拔、使用,是事关国家兴亡的重大问题。江泽民同志在中央纪委第七次全会上特别强调,要把人选准用好,干部的优劣和是非功过,群众看得最清楚,也最有发言权。对于如何
(2013下集管)(2010上系分)项目管理是保证项目成功的核心手段,在项目实施过程中具有重大作用。_____(1)是项目管理的重要元素,是项目实施的基础;_____(2)要确定哪些工作是项目应该做的,哪些工作不应该包含在项目中;_____(3)采用科学的
Inperiodofthesummerholidaystherewillbearevisedschedule(修改过的时刻表)ofservicesforthestudents.Changesfordining-room
Indiansalwaysshake(摇)theirheadswhentheytalktoothers.【C1】______doesnothavethesamemeaning【C2】______"no".Ifsomeo
最新回复
(
0
)