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Influence Of The Price And Oil Resource Scarcity On The World Economy

Author

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  • Stijepo Letunic

    (University of Dubrovnik)

Abstract

Oil, an energy resource, is an important factor for the international and national economic development. Future industry and transport development, development of other economic activities, as well as the restructuring of the world economies are dependent on this resource scarcity and the price. Oil companies worldwide invest in the latest technology in order to increase the exploitation of the existing resources. Moreover, alternative energy sources are being searched for, although the level of investments in the alternative sources is still very low. The aim of this paper is to draw attention to the share of oil in the world production and consumption, as well as to point out the problems of restructuring and introducing new technology in the world economy.

Suggested Citation

  • Stijepo Letunic, 2006. "Influence Of The Price And Oil Resource Scarcity On The World Economy," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 15(2), pages 241-257, december.
    • Handle: RePEc:avo:emipdu:v:15:y:2006:i:2:p:241-257
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    More about this item

    Keywords

    post-entry performances; ICT sector; enterprise size; industry heterogeneity;
    All these keywords.

    JEL classification:

    • L79 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Other
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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