THE ECONOMY (page 1)

Fuel 4

You will hear information about oil and the economy. Listen and put in the missing words.

//However, oil today is a far smaller part of the world economy than it was in the 1970s.

//Then it was 6 - 8 percent of GDP. Now it is only 3 percent. This is a two edged sword for us. We will more for imported oil, but we'll get a lot more for exports of natural gas and coal.

//So perhaps on price, a benefit to the economy as a whole, but where are the fuels? Why has the government done so little about mandating ethanol ?

//Surely at a time of an oil crisis we should be towards reducing our dependence on oil. Where is the ethanol debate?