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| {{Orphan|date=February 2009}}
| | The title of the writer is Jayson. What me and my family love is to climb but I'm considering on beginning something new. Ohio is where his home is and his family enjoys it. I am an invoicing officer and I'll be promoted soon.<br><br>Also visit my web site :: free online tarot card readings; [http://help.ksu.edu.sa/node/65129 help.ksu.edu.sa], |
| The '''magic number''' is a term in [[economics]] that denotes the price of [[crude oil]] (measured in dollars per [[barrel]]) at which a crude oil exporting economy runs a deficit. | |
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| Some countries support almost all spending from income derived from oil exports. As the price of oil drops, these countries take in less [[revenue]] from oil. The magic number denotes the point at which the revenue from oil is no longer sufficient to pay for spending. Mathematically, this can be expressed by the [[inequality (mathematics)|inequality]]:
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| :<math>Q \times P > S</math>
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| where Q is the quantity of oil exported, P is the price, and S is spending. The magic number is the value of P at which this inequality no longer holds true - that is, that the economy runs a deficit. | |
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| PFC Energy publishes the magic number for all the [[OPEC]] nations.
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| "[[Qatar]] is at $21 a barrel, because it brings in much more oil money than it spends. [[Saudi Arabia]]'s break-even point is at $49 a barrel. And [[Venezuela]] is at $58, second only to [[Nigeria]]'s $65."<ref>[http://marketplace.publicradio.org/display/web/2007/10/30/venezuela_magic_number Chavez puts Venezuela's future on oil]</ref>
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| == See also ==
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| * [[Peak oil]]
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| ==References==
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| {{Reflist}}
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| [[Category:Petroleum economics]]
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| {{economics-stub}}
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Latest revision as of 01:44, 4 January 2015
The title of the writer is Jayson. What me and my family love is to climb but I'm considering on beginning something new. Ohio is where his home is and his family enjoys it. I am an invoicing officer and I'll be promoted soon.
Also visit my web site :: free online tarot card readings; help.ksu.edu.sa,