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After weeks of paying steadily more for a tank of gasoline, American drivers are beginning to ease up on the gas pedal, but in today's global economy, that might not be enough to lower crude-oil prices and give a lift to U.S. growth.
加一箱油的花费连续数周逐步攀升后,美国的司机们开始放松油门了,不过在当今的全球经济环境下,这可能不足以让原油降价并提振美国经济增长。
The U.S. Energy Department on Wednesday reported a 1.6% decline in a closely watched gauge of gasoline consumption, compared with a year ago. In the past, when U.S. drivers cut back, that has dented global demand for oil and depressed prices. After a lag, the lower prices would help the economy regain its footing─or at least remove a substantial headwind.
Elaine Thompson/Associated Press位于华盛顿州Bellevue的一个加油站,这里的油价是该地区最高的。周三,美国能源部(U.S. Energy Department)公布了备受关注的汽油消费量数据,结果比一年前降了1.6%。过去,美国司机减少汽油用量就会导致全球对石油的需求受挫并会压低油价。一段时间后,低油价可能会帮助经济恢复稳定,或至少会消除一个巨大的逆风因素。
But many oil experts believe that scenario won't play out this time, because U.S. drivers are no longer calling the shots. The rapidly industrializing economies of China, India, Brazil and even Saudi Arabia are. A possible result: an extended period of sluggish U.S. growth amid high oil prices.
但许多石油专家认为,这次不会出现上述情形,因为现在已经不是美国司机说了算了。起主导作用的是中国、印度、巴西甚至沙特阿拉伯等快速工业化的经济体。一个可能的结果是:由于油价居高不下,美国经济缓慢增长的局面会出现延长。
"It's a new world," said oil economist James D. Hamilton, a professor at the University of California, San Diego. "The growth in newly industrialized countries is the key factor driving oil prices."
加州大学圣地亚哥分校(University of California, San Diego)石油经济学家汉密尔顿(James D. Hamilton)说,世界不同了,新型工业化国家的增长是推动油价的关键因素。
As U.S. prices for regular gasoline hit $3.88 this week, their highest level since 2008, the Energy Department's report showed that the four-week average of gasoline produced by refineries was 9.1 million barrels a day, down 1.6% from a year earlier. It was the fifth-straight week of declining usage in this closely watched barometer of gasoline consumption.
本周美国普通汽油价格触及每加仑3.88美元,达到2008年以来的最高水平,而美国能源部的报告显示,炼油厂的四周平均每日汽油产油量为910万桶,较上年同期跌1.6%。这是备受关注的汽油消费量数据连续第五周下跌。
Oil prices, however, ticked up 55 cents to $112.76 a barrel in Wednesday trading on the New York Mercantile Exchange.
不过在周三,纽约商交所(New York Mercantile Exchange)油价每桶收涨55美分,达到112.76美元。
In the past few weeks, oil prices have risen sharply amid concerns about turmoil in oil-producing nations in the Middle East and North Africa. Analysts at Goldman Sachs believe this is adding about $10 a barrel to oil prices.
过去几周,由于中东和北非产油国动乱引发担忧,油价已急剧攀升。高盛(Goldman Sachs)分析师认为,这些地区的动乱将每桶油的价格推高了约10美元。
But this short-term bump is partially obscuring a longer-term development in oil markets, the surging demand from China and other emerging economies amid constraint in global supplies.
然而这种短期涨价一定程度上模糊了石油市场的长期发展趋势,虽然全球供应紧张,但中国和其他新兴经济体的需求却在上升。
Economists believe that oil prices would still be above $100 even if peace broke out in North Africa and the Middle East. A key factor: China guzzled 874,000 more barrels of oil in March than it did a year earlier, a 10.6% increase despite high oil prices, notes Barclays Capital.
经济学家认为,即便中东和北非停战,油价可能仍会高于100美元。巴克莱资本(Barclays Capital)指出,一个关键因素是:尽管油价走高,但中国3月份消耗的石油比去年同期多87.4万桶,涨幅10.6%。
Since 2000, U.S. oil consumption has edged down 4% to 19.2 million barrels a day. In the same period, the combined demand from Brazil, India, China and Saudi Arabia has risen 76% to 18.8 million barrels, nearly matching the U.S. By itself, China has more than doubled oil consumption to 9.4 million barrels, according to data from the International Energy Agency.
自2000年以来,美国石油消费量已经跌了4%,降至每天1,920万桶,而巴西、印度、中国和沙特四国的总消费量增长了76%至1,880万桶,几乎与美国的消费量相当。国际能源署(International Energy Agency)的数据显示,中国的石油消费量增长了一倍多,增至940万桶。
"In some respects, the Chinese are pushing us into small cars so they can consume more oil," said Stephen Brown, a professor at the University of Nevada, Las Vegas, and former energy economist with the Dallas Federal Reserve Bank.
内华达大学拉斯维加斯分校(University of Nevada, Las Vegas)教授、曾任达拉斯联邦储备银行(Dallas Federal Reserve Bank)能源经济学家的布朗(Stephen Brown)说,从某些方面而言,中国正在推动美国人转用小型车,这样中国就能消费更多石油。
Rising gasoline prices, economists say, have sapped consumer confidence and altered spending patterns. They are slowing U.S. gross domestic product growth from an already sluggish level.
经济学家说,不断上涨的汽油价格已经削弱了消费者的信心并改变了消费模式。高油价正在减缓美国国内生产总值(GD)原本已属缓慢的增长。
So far, there is little evidence that high oil prices will send the U.S. economy back into recession. Economists see high gas prices as a growing headwind, not a potential cause of a double-dip recession. Still, concerns are mounting.
迄今为止,鲜有迹象显示高油价会让美国经济重回衰退状态。经济学家认为高油价是越刮越厉害的逆风,但并非引发二次衰退的潜在因素。尽管如此,担忧仍在升级。
"We think the main risk to the economy is rising commodity prices and their effect on consumer spending," said Dean Maki, chief U.S. economist at Barclays Capital.
巴克莱资本的首席美国经济学家马奇(Dean Maki)说,我们认为美国经济面临的主要风险是大宗商品价格不断上涨及其对消费者支出的影响。
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