Crude Oil falls 50-70% during contractions,
Since last crash that was partly caused by shale oil production, USA returned mantile of the biggest oil producer in the world securing its domestic needs and become energy independent,
World of low oil prices might hurt USA but also benefit it. Sub 20 dollar prices will definetely hurt OPEC nations (and OPEC observer nations) even more causing most of them to become even more unstable and even destroy oil production capacaties in some of them during upcoming turmoil.
Welcome to the world of 15-20 dollar oil. Even if United Stated and Europe begin what Milton Friedman called "helicopter money" policy, it will not save rest of the world.
End of an era is upon us my friends. Welcome to the rearing 20's
Since last crash that was partly caused by shale oil production, USA returned mantile of the biggest oil producer in the world securing its domestic needs and become energy independent,
World of low oil prices might hurt USA but also benefit it. Sub 20 dollar prices will definetely hurt OPEC nations (and OPEC observer nations) even more causing most of them to become even more unstable and even destroy oil production capacaties in some of them during upcoming turmoil.
Welcome to the world of 15-20 dollar oil. Even if United Stated and Europe begin what Milton Friedman called "helicopter money" policy, it will not save rest of the world.
End of an era is upon us my friends. Welcome to the rearing 20's