Oil boom

Oil boom

An oil boom is a boom in the oil producing sector of an economy. Generally, this short period initially brings economical benefits, in term of increased GDP growth, but might later lead to a resource curse.

Consequences

According to the Dutch disease theory, the sudden discovery of oil may cause a decline in the manufacturing sector. The consequences will vary from country to country, depending on the country's economic structure and stage of development.[1] For example, after the oil boom in Gabon, the country showed symptoms of the Dutch disease,[2] while oil-producing Equatorial Guinea did not.[1]

History

Some important oil booms around the world include:

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • oil boom — bonas statusas T sritis ekologija ir aplinkotyra apibrėžtis Plūduriuojanti užtvara iš plūdžių, sulaikanti išsiliejusios naftos ar jos produktų plitimą akvatorijoje. atitikmenys: angl. boom; oil barrier; oil boom vok. Ölsperre, f; Ölstopschlauch,… …   Ekologijos terminų aiškinamasis žodynas

  • Mexican oil boom — The Mexican Oil Boom was an oil boom from 1977 to 1981 which eventually led to a disastrous crash that lasted for most the 1980s, driving the economy to a payment default and a big deficit correction as oil prices fell. Contents 1 Pre Boom Period …   Wikipedia

  • Boom (containment) — Oil spill containment boom shown holding back oil A containment boom is a temporary floating barrier used to contain an oil spill. Booms are used to reduce the possibility of polluting shorelines and other resources, and to help make recovery… …   Wikipedia

  • Oil shale in Israel — is widespread but an undeveloped resource, largely because of economic and technological constraints. Israeli oil shales belong to the group of Upper Cretaceous marinites. Although oil shale deposits may lie under as much as 15% of the country,… …   Wikipedia

  • Oil Springs, Ontario — Oil Springs   Village   …   Wikipedia

  • Oil City Iron Works, Inc. — Oil City Iron Works Industry Manufacturing Founded Corsicana, Texas (1886) Founder(s) John Winship Headquarters Corsicana, Texas, United States Products …   Wikipedia

  • Oil Capital of the World — The title of Oil Capital of the World is often used to refer to Tulsa, Oklahoma,[1][2] and more recently to Houston, Texas.[3][4] In mid 19th century, when Pennsylvania was the first center of petroleum production, Pittsburgh[ …   Wikipedia

  • Oil industry in Azerbaijan — Azerbaijan produces about 800,000 barrels of oil per day and 1 bcma of gas a production that will grow to historical peak of 1.2 million bo/d by 2008 with an equally large amount of gas. Azerbaijan is one of the birthplaces of the oil industry,… …   Wikipedia

  • boom — bonas statusas T sritis ekologija ir aplinkotyra apibrėžtis Plūduriuojanti užtvara iš plūdžių, sulaikanti išsiliejusios naftos ar jos produktų plitimą akvatorijoje. atitikmenys: angl. boom; oil barrier; oil boom vok. Ölsperre, f; Ölstopschlauch,… …   Ekologijos terminų aiškinamasis žodynas

  • oil barrier — bonas statusas T sritis ekologija ir aplinkotyra apibrėžtis Plūduriuojanti užtvara iš plūdžių, sulaikanti išsiliejusios naftos ar jos produktų plitimą akvatorijoje. atitikmenys: angl. boom; oil barrier; oil boom vok. Ölsperre, f; Ölstopschlauch,… …   Ekologijos terminų aiškinamasis žodynas

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”