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Oil and Economic Recession
Title: Oil and Economic Recession
Category: Science & Technology
Details: Words: 1113 | Pages: 4.7 (approximately 235 words/page)
Oil and Economic Recession
Two months ago (Sep. 2000), the world’s economies faced a great problem. The oil price went enormously up and the Dollar followed the same tack. It was made very clear that almost all countries would have a serious problem due to oil’s importance. Oil provides fuel for heating, transport, and machinery, and is a basic input for petrochemicals and many household products ranging from plastic utensils to polyester clothing. From the beginning of this …showed first 75 words of 1113 total…
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…showed last 75 words of 1113 total…created. That is the reason why all countries responded negatively in the increase of oil prices in October 2000. Two months later, the oil prices are at the levels of to per barrel and the Dollar’s value is slightly above 400 Drh at the exchange rate. Some people believe that the world economy has recovered. I don’t want to disappoint them, but I’m sure that we will experience more severe crisis in the future.
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