plastic utensils
polyester clothing
to increase [-z], v. steadily
increase [-s], n.
over much of this period
in comparison with (as compared with)
on the assumption of ()
abundant oil , ,
an abrupt change
oil-producing nations ,
to be located in
to belong to
OPEC (the Organization of Petroleum Exporting Countries) ( )
to raise the price
( encourage consumers ,
to economize on its use
to forecast correctly
cutbacks in quantity demanded
to be dependent on oil
to be available (to be in stock; ant. to be out of stock) potential substitutes ()
to anticipate , ,
substantial price increase [-s] ,
to lead (led, led) to (to cause, to entail, to result in)
reduction in sales
to be profitable for ,
OPEC members .
to quote prices in US dollars per barrel ,
to triple ['tripl] ,
a gradual rise
sharp, dramatic increase
to take by surprise
upheaval [i:]
to inflict upheaval on the world economy ( )
to respond to prices
a producer
to determine what, how and for whom to produce ,
to increase six-fold
oil-based products
artificial substitutes for petroleum production processes
fuel-efficient aircraft
oil-intensive products
switch to
commuters ,
car-pools ,
to choke off the demand
substitute commodities -
to bid up the price
to encourage production
to contemplate solar energy ()
to reflect a shift away from... towards (to)... (, ) ... ...
OPEC revenues
|
|
nearly $300 billion 300
industrialized Western nations ()
in contrast
oil-importing nations ,
to give up the production ()
in exchange for
to require
the buying (purchasing, spending) power
an intricate interconnected system
a disturbance , ,
to ripple throughout the entire economy
some activities expanded/contracted /
to pay higher wages to attract the extra labour
to renew ,
demand for
to secure wage increases
price slump
to persist ,
to exceed
the available supply
to become more scarce in economic terms ,