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- Title
Oil Prices and Economic Growth: Are Oil Shocks a Thing of the Past?
- Authors
McKillop, Andrew
- Abstract
The article offers the author's insights on the state of economic growth and oil prices in Europe. He says that the fell of oil prices in 2008-2009 should have added nearly two percentage points to gross domestic product (GDP) in the affected country, and the value of consumer fuel taxes depend in the energy spending in the economy. He mentions that the common related theme why oil shock happen is peak oil theory, which has an important and neglected oil price management.
- Subjects
EUROPE; ECONOMIC development; PETROLEUM product sales &; prices; GROSS domestic product; FUEL; HUBBERT peak theory; PETROLEUM industry; TAXATION
- Publication
Energy & Environment, 2012, Vol 23, Issue 8, p1353
- ISSN
0958-305X
- Publication type
Article
- DOI
10.1260/0958-305X.23.8.1353