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Can oil reach $200 a barrel?

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  • David BONNER

    (University of Exeter)

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    Abstract

    Oil is a natural exhaustible resource, affected by depletion. It is one of the most important factors of production, but because is not a storable good, it can only obtain value by production and consumption (Elekdag et. al., 2008). This essay will first discuss the facts that would lead to a rise in the oil price to $200 a barrel by 2009 and then look at the impact of this rise, considering it is maintained for further 5 years. The ASPS, one of the most common indexes for oil, has risen by 70,1% from January 2007 to January 2008 (IMF Primary Commodity Prices). In view of this, this scenario is a very likely to take place in the next period. This essay is concentrating on the effects this increase would have on growth, inflation and unemployment în both non-oil and oil producing countries, using a basic analysis of aggregate demand - aggregate supply.

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    File URL: http://feaa.ucv.ro/FPV/008-21.pdf
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    Bibliographic Info

    Article provided by University of Craiova, Faculty of Economics and Business Administration in its journal Finance - Challenges of the Future.

    Volume (Year): 1 (2008)
    Issue (Month): 8 (December)
    Pages: 132-137

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    Handle: RePEc:aio:fpvfcf:v:1:y:2008:i:8:p:132-137

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    Related research

    Keywords: oil price; monetary policy; Philips curve;

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