📈 Economics

Two reasons for the increasing dependence on energy import please?

1 answers
Answered Feb 20Economics
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Alexander TaylorA good understanding of geography can help unlock so many skills!

Talking about energy such as oil/gas can be because the energy demand has exceeded the supply capabilities of the country and it needs to get it elsewhere to make up for the difference. The country may lack natural resources and doesn’t have any reserves to sustain it and the only option is too import it. In the case of the UAE there supply far exceeds their need so they can export it at a cheap price. This price then might be more affordable for a country to import it rather than produce its own.