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The Dilemma of the Oil Market in the Current Geopolitical Context

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  • Cristina Teodora Balaceanu
  • Daniela Penu

Abstract

In an increasingly globalized world, where the effects of technology have an overwhelming impact on people's lives, meaning an increase in appetite for consumption of luxury goods, of lifestyle, it seems that conventional resources are becoming fewer and their use in industrial processes lead to environmental harm, at least from pollution. Essentially, oil prices influence governments, companies, and markets of raw materials markets of finite economic goods, markets of conventional and unconventional energy and an assumed oil crisis would lead to stronger inflections on the market, with repercussions on the overall level of prices, the oil price being generally regarded as decisive for the other prices in the economy.

Suggested Citation

  • Cristina Teodora Balaceanu & Daniela Penu, 2017. "The Dilemma of the Oil Market in the Current Geopolitical Context," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 3(2), pages 97-103, June.
    • Handle: RePEc:khe:scajes:v:3:y:2017:i:2:p:97-103
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    More about this item

    Keywords

    Economic resources; social costs of using resources; opportunity costs of using resources;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B17 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - International Trade and Finance
    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance

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