Word: oils
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...oil prices rising, and what will be the consequences of these increases...
SAFER: There are some crude shortages, but there is no crisis of physical supply. In the longer run, there is no shortage in terms of proven reserves or potentially discoverable oil...
LICHTBLAU: We are not going to run out of oil, but we may run out of suppliers who are willing to give us more, even if it is available. Oil can be denied either for political reasons or because a country simply has no economic interest in increasing production. That is the danger...
...result in price increases of the order of 20%, 30%, 40%, even before supplies actually run short. So far this year, OPEC has increased prices by about 25%. As a result, the importing world will lave to spend about $35 billion a year more for the same quantity of oil...
SAFER: The problem is not a few cents more for gasoline. The higher cost of oil will drain an additional $35 billion a year from the world's purchasing power, and only about half of this will be recycled back in increased OPEC imports. Economic policy is virtually helpless confronting the simultaneous inflation and recessionary impact of this phenomenon...