The Dilemma of the Oil Market in the Current Geopolitical Context

Cristina Teodora Balaceanu () and Daniela Penu ()

Academic Journal of Economic Studies, 2017, vol. 3, issue 2, 97-103

Abstract: In an increasingly globalized world, where the effects of technology have an overwhelming impact on people's lives, meaning an increase in appetite for consumption of luxury goods, of lifestyle, it seems that conventional resources are becoming fewer and their use in industrial processes lead to environmental harm, at least from pollution. Essentially, oil prices influence governments, companies, and markets of raw materials markets of finite economic goods, markets of conventional and unconventional energy and an assumed oil crisis would lead to stronger inflections on the market, with repercussions on the overall level of prices, the oil price being generally regarded as decisive for the other prices in the economy.

Keywords: Economic resources; social costs of using resources; opportunity costs of using resources (search for similar items in EconPapers)
JEL-codes: A11 B17 B27 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:khe:scajes:v:3:y:2017:i:2:p:97-103

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