HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They hope to avoid paying large amounts of taxes.
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They need more money to support their growing populations.
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Oil workers have threatened to walk off the job.
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They are planning for a time when oil runs out, or it will no longer be in demand.
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Detailed explanation-1: -Crude oil prices react to many variables, including supply and demand prospects and the perceived risk of market disruptions. Economic growth can drive up the demand for crude oil, while slowdowns tend to lower demand and prices.
Detailed explanation-2: -CONVENIENCE: They are ready-made. As mentioned above, fossil fuels are the result of natural processes of millions of years. While it took a looong time to turn trees and ferns into coal, those millions of years have already passed and we have nothing to do now but reap the rewards of eons.
Detailed explanation-3: -Crude oil is a major economic input, so a rise in oil prices contributes to inflation, which measures the overall rate of price increases across the economy.
Detailed explanation-4: -oil crisis, a sudden rise in the price of oil that is often accompanied by decreased supply. Since oil provides the main source of energy for advanced industrial economies, an oil crisis can endanger economic and political stability throughout the global economy.