Title :
Influence of Petroleum Price Fluctuation to Main Petroleum-Consumed Industries in USA
Author_Institution :
Sch. of Humanities & Economic Manage., China Univ. of Geosci. (Beijing), Beijing, China
Abstract :
USA is a country seriously relied on petroleum energy. Several historical petroleum crises had caused huge negative influence, more or less, to USA economy, these urged USA government to establish a comprehensive petroleum crisis coping mechanism International petroleum price fluctuated dramatically, especially, international petroleum price fluctuation range in whole year of 2008 exceeded those of three petroleum crisis of last century. By studying influence of all previous petroleum crises to USA petroleum-consumed industries, this paper comes to following conclusion: Increasing of petroleum price all-round reduced production added value of road transportation, chemical industry and aviation industry in USA, brought adverse effect to these industries. USA highway transportation industry has a relative weak capability to cope with petroleum price increasing, and recently, affected seriously by petroleum price increasing. International petroleum price rise had caused each industry´s expense to petroleum increasing constantly, and resulted in added value reduction. Affect by international petroleum price increasing to main petroleum-consumed industries is under weakened.
Keywords :
industrial economics; international trade; petroleum industry; pricing; USA economy; USA government; USA highway transportation industry; added value reduction; all-round reduced production; aviation industry; chemical industry; comprehensive petroleum crisis coping mechanism; historical petroleum crises; international petroleum price fluctuation; international petroleum price rise; petroleum energy; petroleum price increasing; petroleum-consumed industry; road transportation; Economics; Energy consumption; Industries; Petroleum; Production; Transportation; USA Councils;
Conference_Titel :
Management and Service Science (MASS), 2010 International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-5325-2
Electronic_ISBN :
978-1-4244-5326-9
DOI :
10.1109/ICMSS.2010.5577085