{"id":779,"date":"2018-05-20T13:24:07","date_gmt":"2018-05-20T13:24:07","guid":{"rendered":"http:\/\/euromenaenergy.com\/?p=779"},"modified":"2018-05-20T13:24:07","modified_gmt":"2018-05-20T13:24:07","slug":"oil-at-100-not-to-hurt-world-economy-as-much-as-in-2011","status":"publish","type":"post","link":"https:\/\/emimer.com\/?p=779","title":{"rendered":"Oil at $100 not to hurt world economy as much as in 2011"},"content":{"rendered":"<figure id=\"attachment_780\" aria-describedby=\"caption-attachment-780\" style=\"width: 532px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-780\" src=\"http:\/\/emimer.com\/wp-content\/uploads\/2018\/05\/52018172113512359842621.jpg\" alt=\"\" width=\"532\" height=\"355\" srcset=\"https:\/\/emimer.com\/wp-content\/uploads\/2018\/05\/52018172113512359842621.jpg 532w, https:\/\/emimer.com\/wp-content\/uploads\/2018\/05\/52018172113512359842621-300x200.jpg 300w\" sizes=\"auto, (max-width: 532px) 100vw, 532px\" \/><figcaption id=\"caption-attachment-780\" class=\"wp-caption-text\">Image processed by CodeCarvings Piczard ### FREE Community Edition ### on 2018-05-17 18:13:52Z | |<\/figcaption><\/figure>\n<p>A general view of the Amuay refinery complex which belongs to the Venezuelan state oil company PDVSA in Punto Fijo, Venezuela (file). The global economic impact of oil hitting $100 a barrel won\u2019t be as big as when that happened in 2011 thanks to changes in the US. An analysis by Bloomberg Economics estimated that oil touching the triple-digit mark would shave 0.4% off US gross domestic product in 2020, compared with a baseline price of $75 a barrel. Yet that\u2019s less of a hit than in the past because overall price levels have risen, the amount of energy required to produce a unit of economic output has slipped and the US has become less of an oil importer thanks to its shale industry. That mutes the effect of oil price shocks on the world\u2019s biggest economy, and in turn on other countries. As such, \u201c$100 oil won\u2019t feel like it did in 2011,\u201d and will actually feel \u201cmore like $79\u201d a barrel, economists Jamie Murray, Ziad Daoud, Carl Riccadonna and Tom Orlik found. \u201cWith the US still firing on close to all cylinders, the rest of the world would suffer less as well \u2013 global output would be down by 0.2% in 2020.\u201d The economists also estimated that oil would have to hit $200 a barrel before seriously stymieing the global economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A general view of the Amuay refinery complex which belongs to the Venezuelan state oil company PDVSA in Punto Fijo, Venezuela (file). The global economic impact of oil hitting $100 a barrel&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[62,119,202,203,216,233,247],"class_list":["post-779","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bloomberg","tag-eu","tag-oil","tag-oil-and-gas","tag-pdvsa","tag-qatar","tag-roudi-baroudi"],"_links":{"self":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=779"}],"version-history":[{"count":0,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/779\/revisions"}],"wp:attachment":[{"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}