Oil jumps on Egypt jitters – answers
questions
- Which verb is used to describe the increase in oil prices? to march, marched higher
- When were oil prices last this high? October 2008
- What is one possible cause of the increase? mounting unrest in Egypt and the potential for instability
- Why could unrest in Egypt be a problem to the oil industry? because Egypt is close to a major oil transport route
- Where might there be a serious supply disruption? in the Suez Canal
- How many barrels of oil go through the canal each day? close to 2 million
- What might higher prices create? stability
- What kind of welfare are people provided with according to the speaker? cradle-to-grave welfare
- Why is this welfare provided? in exchange for not being politically active and because the oil revenues enable governments to do this
- What will be high priority? keeping the oil flowing