The Economist uses some UBS research to say this:
“Many emerging economies import oil; others export it. As a rule, higher prices hurt the first group and lower ones hurt the second. But it can be more complicated than that. Indonesia, for example, is a net importer of oil, but a net exporter of “energy”, more broadly defined, including coal and palm oil. Since coal, palm and oil prices tend to rise roughly in tandem, Indonesia would benefit overall from $100 oil, according to UBS. Mexico, like America, is also a net importer of crude. But in both countries a higher oil price will help investment and employment in the oil industry by more than it hurts household spending.”
“The impact of a price change also depends on the price level. A jump from cheap to dear oil works differently than a jump from dear to even dearer. In America, many rigs that are not profitable at $40 become viable at $60 or more. Conversely, most rigs that would be lucrative at $120 are already viable at $100. So an increase in price from $40 to $60 might inspire a lot of additional investment and employment, whereas an increase from $100 to $120 might induce less. Meanwhile, the damage to household wallets increases relentlessly.” Here is the link… (Note the UBS reference in the chart)…
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