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Specification:
Click to read the article below and then answer the questions:
Would $50 oil really be good for the US?
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Why are $50/barrel oil and increasing US oil production incompatible goals? Use the law of supply to support your answer
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How do tariffs on aluminium and steel impact the production of oil? Use a supply and demand graph to support your answer
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What price per barrel of oil does Saudi Arabia need to balance their budget? What can they do to alter the price of oil?
Ariel Slonim at MRU’s Econ in the News
