What is economic decline? what are the causes and effects of oil shortage??

Question

help.plz^^

Answer 1

economic decline is just as it sounds, our economy is becoming a weaker.  The main causes of oil shortage right now is the emergence of China, India, and Eastern Europe from communism.  While production has remained steady and our consumption has barely increased other nations have caused prices to increase dramatically  

Answer 2

yes, economic decline is a weakening economy, or you might say the loss of wealth. interestingly, 84% of the wealth of the united states is collectively between our ears.

causes and effects of oil shortages? as said, demand outstrips supply. there are many effects, higher trade deficits because we import 70% of our oil (here in the u.s.), higher prices of most goods because they are shipped or produced throught the use of oil energy, demand destruction (people switching from suv's to compacts), more development of alternative energy to name a few.