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| {{Orphan|date=February 2009}}
| | Internal Auditor Herb Crevier from Aylmer, spends time with passions for example bicycling, plague inc. cheats and sky diving. Recalls what a splendid location it had been having made a journey to Padua.<br><br>Have a look at my page plague inc iphone game walkthrough ([http://html-magazin.blogspot.ru/2006/12/what-google-knows-about-your-domain_06.html please click the following website]) |
| 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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Revision as of 17:05, 11 February 2014
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