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The effect of falling oil prices would be limited

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Unformatted text preview: the sale of a single product. Emerging markets. Emerging markets are places in the world where the economy has started growing well enough that they have become places where companies can sell a substantial number of consumer products. Ethnicity. Ethnicity refers how a person identifies themselves based on a common heritage with others. Eurozone. The Eurozone is an economic and monetary union of 16 European countries. Fossil Fuels. Fossil fuels are fuels that are naturally derived from decaying fossils in the earth. Fossil fuels include coal, oil, and natural gas. Moscow. Moscow is the capitol of Russia. Oil dependence. Oil dependence refers to the idea that a country needs to import its oil in order to have enough to meet the domestic demand for oil. Pension. A pension is a monthly payment that you get from a company or the government after you retire if you have worked there for a number of years. Proliferation. Proliferation refers to the spread of nuclear weapons Rouble/Ruble. Russia’s currency/money 2|Page Russian Oil DA Affirmative BDL Glossary Acronyms BRIC Countries. Brazil/Russia/India/China CBWs. Chemical and Biological Weapons EIA. Energy Information Agency EUROX. Eastern European Fund. GDP. Gross Domestic Product. The GDP is a country’s total economic output over the course of a year. IMF. International Monetary Fund. The IMF monitors the global economy and works to provide support for it when necessary. OPEC. Organization of Petroleum Exporting Countries People Mevdedev. President of Russia Putin (Vladimir). Prime Minister of Russia. Yeltsin (Boris). Former President of Russia. 3|Page Russian Oil DA Affirmative BDL Non-Unique – Russian Economy Declining Now [____] [____] Russian oil prices declining now Euro News, 2012 (June 1, http://www.euronews.com/2012/06/01/rouble-tumbles-further-on-oil-price-slide/) The rouble has continued to drop in value, hitting a three year low against the dollar as it slid more than five percent in a week. The Russian currency has been pulled down by the recent big slump in oil prices on which the country’s economy depends. Increased demand for dollars by one Moscow bank was also cited by traders as a reason for the rouble’s fall. [____] Oil prices and the value of the Russian currency are declining now New York Times, 2012 (June 4, http://latitude.blogs.nytimes.com/2012/06/04/while-the-ruble-slumps/ ) The Russian currency is in free fall. With the price of oil tumbling, the ruble has lost nearly 10 percent of its value against the dollar over the last two weeks and will likely lose more. Considering that Russia imports the bulk of its food and consumer goods, that amounts to a nearly 10 percent loss in buying power for its citizens. 4|Page Russian Oil DA Affirmative BDL Non-Unique – Russian Economy Declining Now [____] Russian economy tanking – investment and current oil prices Nathan Vardi, Forbes Staff Writer, 2012 (6/4, http://www.forbes.com/sites/nathanvardi/2012/06/04/the-market-is-signaling-the-end-of-vladimirputin/) When Vladimir Putin was re-elected in ea...
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This document was uploaded on 02/06/2014.

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