The widespread implications for 40 groups of products of the increase in the price of oil has been studied. The impact on the direct costs of industry are examined together with the impact on demand. It is suggested that, although energy and transport account for only a small proportion of costs in most industries, the cost effects should not be ignored. Although the direct effect is small the total effects on demand are thought to be significant because of the balance of payments impact on the level of consumers' expenditure and because of changes in the pattern of consumers' expenditure caused by higher costs. The effects on investment arising from changes in the worldwide demand/ supply situation for energy and from changes in consumer demand will affect the engineering and construction industries. Increased emphasis, worldwide, will be placed on engineering products and the large engineering sector in the UK and its traditional trading links should be advantageous. /TRRL/

  • Corporate Authors:

    Her Majesty Stationary Office

    49 High Holborn
    London WC1V 6HB,   England 
  • Publication Date: 1974-6

Media Info

  • Features: Tables;
  • Pagination: 118 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00125052
  • Record Type: Publication
  • Source Agency: Transport and Road Research Laboratory (TRRL)
  • Report/Paper Numbers: R&D Rept.
  • Files: ITRD, TRIS
  • Created Date: Nov 18 1975 12:00AM