Click on the linked picture above to go to a newsy.com video on high oil prices and the economic recession, titled "Will High Gas Prices Disrupt Economic Recovery?" That is where you can also find the written transcript together with the video at [ http://www.newsy.com/videos/will-high-gas-prices-disrupt-economic-recovery/ ].
The price of oil in April (Brent crude oil went over $125!) has been the highest since its peak before the 2008 financial crisis. This news story asks if this will cause the economic recession to get worse.
Some notes on the language:
- Of course you know that "gas" here refers to "gasoline" ("petrol" in British English), and it is not used here to refer to the physical state of matter that floats in the air above liquids and solids.
- Language to refer to increases and decreases is very important in describing economic issues. Can you find these mentioned in the video?:
- price increase, hike, are up, high, surge
- going down, less, dip
- "ripple effect" - When some movement occurs on the surface of water, "ripples" spread out from the original point of that movement, so the "ripple effect" refers to changes in once place effecting and spreading to make changes in a wider area.
- "dip" - is a noun as well as a verb meaning to move lower (often to come up again; as in a "dip in the road" or "dipping a spoon in a bowl of soup"). If an economy shrinks, improves a little, then falls some more, then this can be called a "double-dip recession", which is referred to in the video.
Practice your business English by watching and listening to the video above. For more detailed study, you can read the written transcript at the link given above.
[A rare opportunity for you to speak, practice, chat and learn English especially for business, finance, law, international economies & trade at the webpage for Mastery English.]
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