How is Israel’s economy impacted by an increase in the price of oil?

Import of oil is a significant expense to the State of Israel, and changes in oil price have may cause implications on Israel's entire economy. In fact, one-dollar increase in the price of an oil barrel results an additional expense of 65 million dollars annually to the Israeli economy

the secretary of state, appointed by the president with the advice and consent of the senate, is the president's chief foreign affairs adviser. the secretary carries out the president's foreign policies through the state department and the foreign service of the united states.

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