S taxes low encourages automobile industry diuse

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Unformatted text preview: m a single barrel. At current rates of consump;on, we use as much oil every year as the world requires 3,000,000 years to generate Energy and Economics Direct link between economic growth and availability of inexpensive energy What causes this link? Every aspect of our economies depends on cheap energy: -   Food produc;on -   Manufacture -   Transporta;on -   Electronic devices Energy and Economics Low fuel prices are important for every aspect of our global economy. This is par;cularly evident when comparing oil and food price indices. What determines the price of energy? 1.  2.  3.  4.  Cost of extrac;on, produc;on, transporta;on Supply/demand & mar...
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