The price of crude oil hit an all-time high early in April. The surge in oil price harms virtually all consumers and industries.
Nevertheless, according to Wharton finance professor Jeremy Siege, record high prices are not as bad as they look. "The major reason for that is we have become much more energy efficient."
Topic: The rising price of oil
Questions for Reference:1. What are the advantages and disadvantages of the rising price of oil on the economic development
2. Why does the price of oil fluctuate What can we do to reduce the negative effects to the least
3. What does Prof. Siege mean when he says we are more energy efficient