answersLogoWhite

0

(year:2011) America has oil but most people do not like to obtain it from here because it destroyers the land, so we buy oil from foreign countries (foreign oil). Seen there is a war going on now (in Libya) people raise the prices.

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

When inflation occurs do prices fall or rise?

rise


Explain the process of supply and demand and how prices rise and fall?

Prices will fall when the demand is much lower than the supply. When the supply is lower, there is greater demand, therefore, the prices will rise.


What prices fall as interest rates rise?

A bond


Who is gaining from the rise in oil and gas prices?

the government


What are Venezuela's main economic activities?

Venezuela's economy is highly dependent on oil exports. The recent fall in oil prices has damaged the economy there. prices can fluctuate so there is always a chance that their economy will improve if and when oil prices rise.


What happens when oil prices rise?

Blush thank boo


How much are fuel prices expected to rise this summer?

A driving factor in the rise is the Gulf oil crisis. Prices are expected to rise at least 7% over the summer.


Why did oil prices rise?

Because the people in the war wouldn't give us oil.


What determined the rise and fall of the population in oil towns?

The rise and fall of populations in oil towns are primarily determined by the fluctuations in oil prices and production levels. When oil prices soar or new oil discoveries are made, these towns often experience rapid growth due to an influx of workers seeking jobs and economic opportunities. Conversely, when oil prices drop or reserves are depleted, many workers leave in search of employment elsewhere, leading to population decline and economic stagnation. Additionally, factors like infrastructure development and environmental concerns can also influence long-term population trends in these areas.


How does rising oil price affect the price of polyester resin?

as polyester resin is a bi-product of oil so if the prices of oil rise then it is definite that the polyster resin price will also rise.


If crude oil prices are valued in American dollars and the British Pound is now worth two dollars why hasn't there been a drop in the price of petrol and oil-related products in the UK?

The recent rise in oil prices has been much greater than the rise in the value of the GB pound against the US dollar. Without the change in the exchange rate the rise in oil prices in pounds would have been even greater.


Are oil countries affected by the terms of trade?

Yes, oil countries are significantly affected by the terms of trade, which refer to the relative prices of exports to imports. When oil prices rise, these countries typically experience an improvement in their terms of trade, leading to increased national income and economic growth. Conversely, when oil prices fall, their terms of trade worsen, potentially resulting in economic challenges, budget deficits, and reduced public spending. Thus, fluctuations in global oil prices directly impact the economic stability and development of oil-exporting nations.