The oil shock of 2020 appears to be here – and the pain could be wide and deep
March 13, 2020
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)
Scott L. Montgomery, University of Washington
(THE CONVERSATION) The world is again undergoing an oil shock.
Prices, already on a downward trend, have collapsed 30% in less than a week, bringing the total fall to nearly 50% since highs in early January. Consumers, of course, can expect gasoline prices to go down, but the story is far more complicated than that.
Having researched energy for decades, I see this as a big deal, not only for the global economy, but for geopolitics,...