"HIGH IS OIL BAD IS ECONOMY"
The economy is affected by many factors that determine if it is strong or weak. These factors have to do with buyers consuming goods and services and at what rate they do this. Do the goods and services that are consumed by people created wealth, jobs and a better overall economy for a country
If you look at the United States as a model you will see a country that handles oil with precision. When the oil industry is in a downturn, the government can step in and regulate taxes and stimulate investment by having the central bank pump in funds that would not otherwise be used. When the oil industry is doing fine, the government can sit back and reap the prosperity of increases in employment and a rise in demand for oil. The prices will be lower for gas and oil, which means consumption will be up and the economy will be up too. Countries around the world can learn how to handle oil to the extent that it creates an agenda that the benefits far outweigh the costs. We know that oil and gas affects the economy and that it easily regulated by strong central government and bank. The infrastructure must be built up to manage growth. The leaders of the country should be committed to the development of the oil industry. Finally the consumers should be aware of how their role in the consumption of oil will affect the economy as a whole. When all parties are aware and committed to the prosperity of their country and to the industry then the consumption, supply, demand, profits, losses, and investment towards oil will be a mutually beneficial one for the country and it's people.
As people can see, the cause of the oil price increasing will greatly effect many countries and people as well. It is impossible to know if this situation will get better or will it worsen as the years go by but we can only hope that it will get better soon and hope that it will not go out of control.
JAWWAD MEER (13)
The economy is affected by many factors that determine if it is strong or weak. These factors have to do with buyers consuming goods and services and at what rate they do this. Do the goods and services that are consumed by people created wealth, jobs and a better overall economy for a country
If you look at the United States as a model you will see a country that handles oil with precision. When the oil industry is in a downturn, the government can step in and regulate taxes and stimulate investment by having the central bank pump in funds that would not otherwise be used. When the oil industry is doing fine, the government can sit back and reap the prosperity of increases in employment and a rise in demand for oil. The prices will be lower for gas and oil, which means consumption will be up and the economy will be up too. Countries around the world can learn how to handle oil to the extent that it creates an agenda that the benefits far outweigh the costs. We know that oil and gas affects the economy and that it easily regulated by strong central government and bank. The infrastructure must be built up to manage growth. The leaders of the country should be committed to the development of the oil industry. Finally the consumers should be aware of how their role in the consumption of oil will affect the economy as a whole. When all parties are aware and committed to the prosperity of their country and to the industry then the consumption, supply, demand, profits, losses, and investment towards oil will be a mutually beneficial one for the country and it's people.
As people can see, the cause of the oil price increasing will greatly effect many countries and people as well. It is impossible to know if this situation will get better or will it worsen as the years go by but we can only hope that it will get better soon and hope that it will not go out of control.
JAWWAD MEER (13)
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