Sentences with phrase «oil price shocks of»

Kristianstad's energy makeover is rooted in oil price shocks of the 1980s, when the city could barely afford to heat its schools and hospitals.

Some of the poorest countries in the world are so dependent on oil imports that their already fragile economies have been hit 10 times as hard as the U.S. economy by the oil price shocks of the past years.

CAFE was created back in the 1970s in response to the oil price shocks of that decade and a Malthusian fear about the world running out of oil.

Government energy RD&D budgets in IEA member countries increased sharply after the oil price shocks of the 1970s.

A sharp decline from the rate achieved in the years immediately following the oil price shocks of the early 1970s.

«Black Gold: The End of Bretton Woods and the Oil Price Shocks of the 1970s.»

Previous jolts to the economy, like the Gulf War and the oil price shocks of the 1970s, were surprises.

Only in the event of a large supply shock (such as the oil price shocks of the 1970s) might any difference in response across the different frameworks become apparent.

Those of you who can recall our experience with the oil price shock of the 1970s will remember the subsequent effort required to bring inflation under control.

Not exact matches

Probably the most famous example of a large, negative terms of trade shock is the United States after the oil price spike in 1973:

The high income households have nice broad, diversified safety nets that can allow them to withstand shocks (oil prices, housing prices, employment fluctuations, unexpected illness) by shifting through short, medium and long - term forms of saving.

Many economists worried that the state was in for a recession along the lines of the oil shock of the 1980s, when real estate prices plunged and unemployment soared.

But a series of shocks to the market — including plunging oil prices, Western sanctions, recession and higher beer taxes — has diminished its weight in the brewer's earnings.

Given how important oil has been to the Canadian economy in recent years it shouldn't come as a huge shock that the loonie is heavily correlated with the decline in the price of oil.

In a separate note, TD Securities» chief Canada macro strategist David Tulk said forecasters have underestimated the impact of the oil price decline on the Canadian economy, calling the shock «longer - lived and larger» than expected.

Following the initial shock of oil - supply risk, U.S. Treasury bond and related «flight - to - safety» investments tend to lower oil price trends as the U.S. dollar appreciates.

While the near - zero balance of opinion suggests that labour market slack remains, the indicator has continued to improve gradually since the oil price shock, as conditions in affected regions have bottomed out.

OPEC hopes to stimulate demand through low oil prices back to the peak levels that existed before the price shocks of the 1970s and 1980s.

We estimate that the oil price shock, on its own, took about 1 1/4 percentage points off GDP growth in the first half of the year.

The spending behaviour of firms in regions hit by the oil price shock is also recovering, supported by improving commodity prices and business confidence.

August 30, 2016 — The effects of large oil price shocks on the Canadian economy are complex, as is the best response of monetary policy, but getting it wrong can be very costly, according to a new...

This is mostly due to much lower oil prices after the oil shock (expected to remain around $ 53 per barrel in the next two years), as oil proceeds still account for more than 50 % of government revenues.

The second cyclical factor that has had a major impact on our exports and business investment is the protracted recovery of the US economy — the slowest in the postwar period.10 When oil and other commodity prices rose in the years before the 2014 oil price shock, so did our dollar, making our non-commodity exports to the United States less competitive and reinforcing the ongoing shift from manufacturing to services.

These shocks range from a hard and bumpy landing in China to a potential recession in the United States as the oil and manufacturing sectors face some duress and as the unsubsidized price of money again enters into the equation.

Angola is Africa's second - largest oil producer behind Nigeria, and like its West African counterpart, where the slump in oil prices forced a reconsideration of its dependence on oil, Angola now faces the challenge of having to restructure its economy to reduce its vulnerability to oil shocks.

As Stephen Gordon has explained, this is exactly what we should expect from the oil shock — the price of things we export has fallen a lot, which makes us poorer.

Crude oil prices have jumped to almost one - year high's on Monday in a shocking turn of events as Russian President Vladimir Putin disclosed that Russia was ready to join the cartel's efforts to reduce global oil supply.

«Rates are of course extraordinarily low,» Poloz said, adding the bank cut rates by 50 basis points in 2015 to counteract the effects of the oil price shock.

The second is that the world economy was moving along very smoothly in the post-war period, with everything under control, until hit by the external shock of the OPEC - induced oil price rise in late 1973 (and again in 1979).

The second shock was the sudden drop in resource prices, particularly for oil, which represented a significant loss of income for the nation as a whole — something in the range of $ 50 billion to $ 60 billion per year.

In a speech at the summit, Mr Brown said the world was facing «the third big oil shock in 30 years» and that measures needed to be taken to reduce the price of the valuable commodity.

We've just about had everything — from lipstick on a pig all the way to a full - on financial panic, with two ongoing wars and the lingering effects of an oil - price shock playing in the background.

Previously, it was oil revenue that dominated the budget, but the negative shock in the decline of oil revenue makes government to start thinking differently, and they should continue in this path, even if in future oil price goes up.

Britain's economic recovery could be knocked off course by a series of 1970sstyle oil price shocks, Chris Huhne warned yesterday.

«With the exception of Chad, which already had a program in place with the IMF prior to the oil price shock, we have not received any new request for financial assistance from sub-Saharan African oil exporters,» the IMF spokeswoman added.

The President appealed for more patience and understanding from Nigerians as his administration takes steps to safeguard the economy from the shock of falling oil prices.

«The sharp decline in oil prices represents a formidable shock on the oil exporting countries of sub-Saharan Africa, especially in view of their strong reliance on oil receipts for fiscal and external revenues,» an IMF spokeswoman said in a statement.

«We have had a process of quiet change ever since the price shock of 1986,» he said, adding that Shell Oil in the US recently unveiled plans to lose 2000 staff.

«I picture an oil price shock within a couple of years,» says Campbell.

Whether such a quantity can be produced from tar sands and oil shale at a price near (never mind below) $ 30 per barrel is highly uncertain, but more suggestive of Lomborgs confusion in any case is that the price he mentions is higher (according to his own Figure 65) than the price of oil has been for any prolonged period in the last 120 years except for 1979 - 86, in the aftermath of the second (1979) Arab - OPEC oil - price shock.3 This means resources of tar sands and oil shale that would be economically exploitable only at prices around $ 30 per barrel are in fact more expensive than oil has been for nearly all of the last century.

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1 time EVENT driven shocks lead to a sudden spike in the price of oil.

An isolated oil price shock or two can be readily absorbed by other segments of the economy, but the type of steep, sustained rise in oil prices that we've seen in recent years becomes a cost factor that has to be passed on.

Oil shock: Analysts say the loonie has lost value against the American dollar and a number of other currencies because of the big fall in oil prices, since the commodity is of major importance to the Canadian econoOil shock: Analysts say the loonie has lost value against the American dollar and a number of other currencies because of the big fall in oil prices, since the commodity is of major importance to the Canadian econooil prices, since the commodity is of major importance to the Canadian economy.

Thirty years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls, two oil shocks, the resignation of a president, the dissolution of the Soviet Union, a one - day drop in the Dow of 508 points, or treasury bill yields fluctuating between 2.8 % and 17.4 %.

The summer edition of the report suggested businesses on the Prairies will be hurt as the oil price shock spreads across other sectors.

The bank reduced its trend - setting rate twice in 2015 to the very low level of 0.5 per cent to help the economy as it struggled with the effects of the oil - price shock.

We see the decline in oil prices as being largely due to a positive supply shock, rather than a weakening of oil demand.

A positive supply shock that drives down the price of oil provides a significant boost to global growth, though we think there will also be winners and losers.

It was kind of shocking, given the amazing gyrations of oil prices and the economy.