首页
登录
职称英语
Could the bad old days of economic decline be about to return? Since OPEC agr
Could the bad old days of economic decline be about to return? Since OPEC agr
游客
2023-11-22
14
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 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%. [br] 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://tihaiku.com/zcyy/3209649.html
相关试题推荐
PassageFour(1)Inthego-goyearsofthelate1990s,noeconomictheo
PassageTwoThelatesthottopicamongeconomictalkingheadsisthecom
PassageTwo[br]WhatdoesthestudyoftheEconomicPoh’cyInstituteinPar
Whollyasidefromaestheticandmoralconsiderations,fashionisaneconomic
Whollyasidefromaestheticandmoralconsiderations,fashionisaneconomic
Whollyasidefromaestheticandmoralconsiderations,fashionisaneconomic
Whollyasidefromaestheticandmoralconsiderations,fashionisaneconomic
Whollyasidefromaestheticandmoralconsiderations,fashionisaneconomic
Whollyasidefromaestheticandmoralconsiderations,fashionisaneconomic
Whollyasidefromaestheticandmoralconsiderations,fashionisaneconomic
随机试题
Athrongofbeardedmen,insad-coloredgarmentsandgraysteeple-crownedha
TheEuropeanUnionhadapprovedanumberofgeneticallymodifiedcropsunti
[originaltext]M:Goodmorning.WelcometoBankoftheUSA.HowmayIhelpy
Beijing’slocaleducationauthoritycompiledalistof"potentialsecurityp
个体在不同的年龄阶段表现出不同的总体特征及矛盾,面临着不同的发展任务。这表明个体
2020年下半年,我国稀土及其制品的出口额为多少万元?A.621464
家庭社会工作的实施步骤通常经历( )等阶段。A.接触阶段 B.开始阶段 C
下列类似于完全竞争型市场的行业是()。A:初级产品B:制成品C:石油D:自
中国证监会某派出机构的工作人员与辖区内某期货公司的首席风险官进行谈话,了解其近期
路堤施工中,采用土工合成材料加筋的主要目的是提高路堤的()。A、承载力 B、平
最新回复
(
0
)