So, the oil price rises and those basic chemicals that are tied to the oil price will also rise.
You start with a pretty basic feed stock - oil or natural gas - but with a little work you can turn out a whole bunch of flavors.
So far the main drivers of European inflation have been the same as most major developed economies: the surging cost of oil and basic food products such as dairy and wheat.
The most suspect sectors are technology, capital goods and basic industrials, along with oil and other commodities.
Should demand continue to rise when total output has reached its peak, basic economics tells us that oil prices will steadily rise with demand.
Oil, technology and basic industrials are suffering margin contraction from pricing and weakening revenues.
In any case, a production slowdown would be a problem, but for a country so heavily dependent on oil and gas revenue for basic government spending, it could be a disaster.
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But despite booming oil revenues, Venezuela's basic infrastructure is showing signs of wear and tear.
It had the good fortune over the past year of seeing the price of ethylene, a basic component for plastics that is derived from oil and natural gas, rise 35% to 55 cents a pound.
But my proposal for this year will not only help those on low incomes who lost out, but also does more to help all basic rate taxpaying families at a time when oil and food prices have been rising in every part of the world.
Companies based on oil and gas exploitation, mining and agribusiness take basic materials from the African continent and distribute them to international markets.
On Friday, Brazilian stocks were mixed as rises in basic materials shares such as those of Petrobras, the national oil company, and miner Vale were partly offset by declines in steel companies.
On Friday, Brazilian stocks were mixed as rises in basic materials shares such as those of Petrobras , the national oil company, and miner Vale (nyse: RIO - news - people ) were partly offset by declines in steel companies.
Indeed, a rush to oil is a flight of talent and capital to the basic, easily taxable and regulatable commercial concepts of yesterday.
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The prices of basic food items such as bread, milk, vegetables, and cooking oil, which rose 47 percent between 2011 and 2012, continue to climb.
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Though every family had its variations, the basic premise was the same: braise cuts of pork and beef in olive oil.
This is a basic tenet of capitalism at work: the market simply refused to sustain the oil prices that had ballooned so quickly.
It has not been possible to overcome the basic fact that the Shiites in the south and the Kurds in the north have the oil and the Sunnis in the center have the sand.
But, under the basic law's draft, the government in Baghdad would be responsible for defence as well as oil and foreign policy.
The basic problem with Iran's economy is that the government spends more subsidizing prices than it takes in from oil and gas revenues.
If you want everything--from oil changes to collision protection--you'd have to pay more than someone who wants just basic collision protection.
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