Europe's Energy Dependence in the Current Petroleum Crisis

Nistor Costel (), Mihaela Muntean () and Nistor Rozalia ()
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Nistor Costel: “Dunarea de Jos” University of Galati, Faculty of Economic and Business Administration
Nistor Rozalia: “Dunarea de Jos” University of Galati, Faculty of Economic and Business Administration

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 2, 938-941

Abstract: Sovereign between fuels, raw materials for industry leading longed important factor in the prosperity of peoples, "black gold" dominates contemporary civilization economy and authority, creating a true "oil era". Increasingly acute thirst for oil, caused, on the one hand, depletion of natural reserves and the increasing consumption on the other hand, is mobile efforts by developed countries to control more and more states in the Middle East, where are the main source of world oil. Almost half of the total mineral raw materials are the oil extracted. Because of this modern petroleum economy, direct or indirect influence on the development and location of the European economy.

Keywords: enery; crisis; oil; petroleum product (search for similar items in EconPapers)
JEL-codes: F50 F59 (search for similar items in EconPapers)
Date: 2011
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