单选题:请根据以下内容回答11-15题TheRisingOilPrice

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请根据以下内容回答11-15题
TheRisingOilPrice
Couldthebadolddaysofeconomicdeclinebeabouttoreturn?SinceOPECagreedtosupply-cutsinMarch,thepriceofcrudeoilhasjumpedtoalmost$26abarrel,upfromlessthan$10lastDecember.Thisnear-triplingofoilpricescallsupscarymemoriesofthe1973oilshocksresultedindouble-digitinflationandglobaleconomicdecline.Sowherearetheheadlineswarningofgloomanddoomthistime?
TheoilpricewasgivenanotherpushupthisweekwhenIraqsuspendedoilexports.Strengtheningeconomicgrowth,atthedametimeaswintergripsthenorthernhemisphere,couldpushthepricehigherstillintheshortterm.
Yettherearegoodreasonstoexpecttheeconomicconsequencesnowtobelessseverethaninthe1970s.Inmostcountriesthecostofcrudeoilnowaccountsforasmallershareofthepriceofpetrolthanitdidinthe1970s.InEurope,taxesaccountforuptofour-fifthsoftheretailprice,soevenquitebigchangesinthepriceofcrudehaveamoremutedeffectonpumppricesthaninthepast.
Richeconomicsarealsolessdependentonoilthantheywere,andsolesssensitivetoswingsintheoilprice.Energyconservation,ashifttootherfuelsandadeclineintheimportanceofheavy,energy-intensiveindustrieshavereducedoilconsumption.Software,consultancyandmobiletelephonesusefarlessoilthansteelorcarproduction.ForeachdollarofGDP(inconstantprices)richeconomicsnowusenearly50%lessoilthanin1973.TheOECDestimatesinitslatestEconomicOutlookthat。ifoilpricesaveraged$22abarrelforafullyear,comparedwith$13inl998。thiswouldincreasetheoilimportbillinricheconomiesbyonly0.25%~0.5%ofGDP.Thatislessthanone-quarteroftheincomelossinl9740r1980.Ontheotherhand,oilimportingemergingeconomies--towhichheavyindustryhasshifted--havebecomemoreenergy-intensive,andSOcouldbemoreseriouslysqueezed.
Onemorereasonnottolosesleepovertheriseinoilpricesisthat,unliketherisesinthe1970s,ithasnotoccurredagainstthebackgroundofgeneralcommodity-priceinflationandglobalexcessdemand.Asizableportionoftheworldisonlyjustemergingfromeconomicdecline.TheEconomist’scommoditypriceindexisbroadlyunchangingfromayeara90.In1973commoditypricesjumpedby70%,andinl979byalmost30%.
Themainreasonforthelatestriseofoilpriceis_________.
A globalinflation
B reductioninsupply
C fastgrowthineconomy
D Iraq’ssuspensionofexports
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