How Will Oil Production Impact the Economy Over the Coming Decade
A
paper published recently by the IMF gives us some insight into how oil
prices and availability might affect the global economy in the next
decade. The paper, entitled Oil and the World Economy: Some Possible
Futures, starts with the statistic that global oil production grew by
1.8 percent annually from 1981 to 2005, then stagnated with production
remaining essentially flat thereafter. In the last seven years what is
called global “growth” in “oil” production has come largely from
substitutes for crude such as natural gas…Read more...http://oilprice.com/Energy/Crude-Oil/How-Will-Oil-Production-Impact-the-Economy-Over-the-Coming-Decade.html
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