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The Benefits Of Having Large Reservoirs Of Petroleum

Author

Listed:
  • Viorel POP

    (Vasile Goldiş Western University of Arad)

Abstract

Oil is the most important resource for global energy production, far exceeding the role of coal and natural gas, the role of river energy and wind energy, and also the role of nuclear fuel. All highly industrialized countries are making great efforts to ensure the energy needs of the functioning of economies under the conditions of fierce global competition. None of the world's first 10-12 economies can give up on oil imports, and the exporting countries benefit from large financial resources from oil. Saudi Arabia, Qatar, United Arab Emirates, Venezuela, Russia and other oil-rich countries secure themselves significant foreign revenue for their economic development, defense and overall well-being.

Suggested Citation

  • Viorel POP, 2017. "The Benefits Of Having Large Reservoirs Of Petroleum," Law, Society & Organisations, Romanian Foundation for Business Intelligence, Editorial Department, issue 3 (2/2017, pages 119-126, December.
    • Handle: RePEc:cmj:lawsor:y:2017:i:3:p:119-126
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    More about this item

    Keywords

    Petroleum; Energy; Economy; Competitiveness; Trade balance;
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing
    • M53 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Training

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