代写范文

留学资讯

写作技巧

论文代写专题

服务承诺

资金托管
原创保证
实力保障
24小时客服
使命必达

51Due提供Essay,Paper,Report,Assignment等学科作业的代写与辅导,同时涵盖Personal Statement,转学申请等留学文书代写。

51Due将让你达成学业目标
51Due将让你达成学业目标
51Due将让你达成学业目标
51Due将让你达成学业目标

私人订制你的未来职场 世界名企,高端行业岗位等 在新的起点上实现更高水平的发展

积累工作经验
多元化文化交流
专业实操技能
建立人际资源圈

Why the oil price is falling

2021-04-16 来源: 51Due教员组 类别: Essay范文

51Due教员组今天给大家带来一篇经济essay代写范文,《油价为何下跌》(E.L.,2014)一文将油价下跌40%归因于四个原因:需求减少、伊拉克和利比亚的持续产出、美国进口减少导致全球供应增加以及沙特及其海湾盟国选择不减少石油产量。据加拿大政府称,加拿大是世界第四大石油生产国和出口国(加拿大自然资源部,2020年)。它占全球产量的5%,占全球出口的7%。2018年出口370万桶/天,进口60万桶/天,出口量是进口量的6倍。由于加拿大与中东国家一样是一个主要的石油出口国,油价大幅下跌最有可能对加拿大经济产生负面影响,因为出口利润减少的负面影响将部分抵消这种积极影响。

The article “Why the oil price is falling” (E.L., 2014) attributed the 40% oil price drop to four reasons: less demand, constant output from Iraq and Libya, more global supply caused by the US importing less and the fact that the Saudis and their Gulf allies chose not to reduce oil production. According to the Canadian Government, Canada is the world’s fourth largest oil producer and exporter (Natural resources Canada, 2020). It contributes to 5% of global production and 7% of global exports. In 2018, it exported 3.7MMb/d and only imported 0.6MMb/d. Its exports are 6 times its imports. Since Canada is a major oil-exporting country like those in the Middle East, the most likely effect of a large oil price decrease would be negative to the Canadian economy since the positive effect would be partially negated by the negative effect of reduced profits from exports.

Since the reason of the price drop is exogenous and Canada is a price taker in this case, Canada is not able to change the price by changing domestic supply or demand. With cheaper price, it could import more oil with the same amount of money as raw materials for manufacturing, automobile or other general use. Oil demand would rise. With cheaper production inputs, manufacturing companies could boost production and make more profits, which is good for the Canadian economy. Consumers could also benefit from cheaper gas. Given that most Canadians own cars, the accumulative positive effects of price drop could be huge. Increased oil demand would also stimulate the economy. However, on the other hand, this would be bad news for Canadian oil drilling companies that are involved in expensive oil extractions projects. Also, the financial industry might be hurt given many investors would expect the oil price to rise and bet on oil futures. The negative effect is expected to be more severe than the positive effects given that the “riskiest and most vulnerable bits of the oil industry” is present in Canada as oil production industry is a major one in Canada.

As a result, the Canadian central bank should resort to certain monetary policies to weaken the negative effects on the large oil drilling companies. It could slightly decrease short-term interest rate, or, if the economy is hurt, it could change money supply by decreasing the required reserve ratio.

51due留学教育原创版权郑重声明:原创优秀代写范文源自编辑创作,未经官方许可,网站谢绝转载。对于侵权行为,未经同意的情况下,51Due有权追究法律责任。主要业务有essay代写assignment代写paper代写作业代写、论文代写服务。

51due为留学生提供最好的论文代写服务,亲们可以进入主页了解和获取更多代写范文提供论文代写服务,详情可以咨询我们的客服QQ:800020041。

上一篇:Analysis of Halo effect by Ros 下一篇:Retaliatory tariffs in the tra