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This is how Oil can control the global economy [Economy]
posted June 18 2012 18:14.01 by Giorgos Lazaridis

How comes and every time we go through a recession the oil price goes down, while every time the economy flourishes the oil price goes up?

Well here is the deal. Begin first by understanding that oil is the life-giving blood of our economy. Everything works with oil, energy, transportation, construction, food production, factories, platic products, shampoos and lipsticks need oil... It is just an endless list.

Whenever the global economy flourishes, people start to consume more and more, for we live in a capitalistic economy. Add the fact that the economies of China and India -which hold a third of the Earth's population- are growing rapidly. More and more people need more and more petroleum-based products to consume.

Thus, the only way to reduce this always increasing demand, is by increasing the crude oil price. People will consume less for they can afford less. Similarly, when economy is going through a recession, oil companies can help it go our of this recession simply by decreasing the oil price.

Here is a video which explains just that...

[Link: Epipheo]

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