首页
登录
职称英语
Could the bad old days of economic decline be about to return? Since OPEC a
Could the bad old days of economic decline be about to return? Since OPEC a
游客
2023-11-10
8
管理
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 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 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 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%. [br] 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
作者观点态度题。综观全文,结合上两题的分析,可以看出作者对这次油价上涨的影响力抱有乐观的态度。
转载请注明原文地址:https://tihaiku.com/zcyy/3174112.html
相关试题推荐
He’salready______severaloftheproposalsinhiseconomicplantoaccommodate
In"In1990helefthome,nevertoreturn."theinfinitiveclause(不定式)isused__
______,thenewpresidentismorelikelytogiveeconomicandtradeissuesprior
Theeconomicrecessionhasmeantthatjob______isararething.A、securityB、safe
Sharesonthestockmarkethave______asaresultofaworldwideeconomicdowntur
Becauseoftheeconomiccrisis,industrialoutputintheregionremainedA、motion
______Ilikeeconomics,Ilikesociologymuchbetter.A、AsmuchasB、SomuchC、Ho
Whenyouhavefinishedwiththebook,don’tforgettoreturnittoTim,______?
Althoughhehasbecomerich,heisstillvery______ofhismoney.A、economicB、t
Couldthebadolddaysofeconomicdeclinebeabouttoreturn?SinceOPECa
随机试题
【B1】[br]【B16】A、EvenifB、AlthoughC、IfD、WhenA语法结构题。由该空后的might可知,这里应该是if引导的条件
Whyisitsodifficulttofallasleepwhenyouareovertired?Thereisnoon
Waffles?Frenchtoast?Bacon?Bigbreakfastsmaybeathingofthepast.Acc
AccordingtoChomsky,whichistheideal
A.0 B.1.14 C.∞ D.2
消毒牛奶的卫生质量应达到《巴氏杀菌乳》(GB5908—1999)的要求。( )
以下关于基金托管的资产保管职责说法错误的是(?)A.基金财产独立于基金托管人的固
下列关于信托(契约)型股权投资基金的份额登记事项,表述错误的是()A.基金管理
据《水利水电工程地质勘察规范》(GB50487—2008),某水利工程压水试验
男孩,8岁,水肿5天,尿少、肉眼血尿2天入院。2周前,家长诉“上感”,用青霉素治
最新回复
(
0
)