How MIGHT a war with a country that is a member of OPEC impact citizens living around you?
A)
gas prices may increase due to a rise in price of crude oil
C)
the sale of foreign cars decreases due to an increase in tariffs
D)
the automobile industry suffers due to a decrease in auto part exports
(B is incorrect, so there is no B)
I DO NOT KNOW THE ANSWER
To determine how a war with a country that is a member of OPEC might impact citizens living around you, let's consider each option:
A) Gas prices may increase due to a rise in the price of crude oil: If a war disrupts oil production in an OPEC member country, it could lead to a decrease in global oil supply. This reduction in supply, coupled with potential market speculation and fears of future supply constraints, could cause crude oil prices to rise. Consequently, higher crude oil prices could result in increased gasoline prices, impacting citizens who rely on gasoline for transportation.
C) The sale of foreign cars decreases due to an increase in tariffs: If a war with an OPEC country leads to geopolitical tensions and subsequent trade disputes, governments might impose tariffs or trade restrictions on imports from that country. This could result in higher prices for foreign cars and a decrease in their sales, potentially impacting citizens who prefer or depend on imported vehicles.
D) The automobile industry suffers due to a decrease in auto part exports: If trade disruptions occur due to a war, there could be a decrease in the export of auto parts. This could adversely affect the automobile industry's supply chain, as many automakers rely on international suppliers for parts. A decrease in auto part exports might lead to production delays, higher costs, and potentially a decline in the automobile industry, possibly impacting citizens employed in this sector.
In summary, a war with an OPEC member country can have various impacts depending on the dynamics of the conflict and subsequent economic repercussions. Gas prices increasing due to the rise in crude oil prices, a decrease in foreign car sales due to increased tariffs, and the automobile industry suffering due to a decrease in auto part exports are all potential ways citizens living around you could be affected.