28 Feb '15, 10pm

#peakoil Oil Import Dependence Not Aways Economic Disadvantage: According to research by the Cologne Institute...

#peakoil Oil Import Dependence Not Aways Economic Disadvantage: According to research by the Cologne Institute...

In sum, even though higher oil prices are perceived as a drag on overall economic activity while the current low oil price environment is often considered a boon, the authors of the study cite additional research to suggest that in the higher oil price environment “the so-called trade effect can produce a positive counter-effect” for the oil importing country. Conversely, sustained lower oil prices may have a negative impact on investment-driven capital goods purchases from oil-producing countries – many with insufficiently diversified economies. It is therefore essential to understand the exact nature of the trade relationship between two countries before unequivocally calling for the end of oil imports from certain countries; namely, whether – first – a windfall in oil revenues in oil-producing countries is likely to increase investments in those countries and – second –...

Full article: http://peakoil.com/consumption/oil-import-dependence-not-...

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