Commentary: Oil’s Perfect Storm

Mar 23, 2015 | Jim Brooks
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No commodity affects global economic landscape like oil, but there are some very important non-economic implications to the oil price swoon. With global oil prices down nearly 50 percent from the average that predominated for the first half of this decade, the macroeconomic implications have been on display – pain for high-cost oil producing countries and U.S. fracking outfits, joy and stimulus in the finance ministries of the world’s oil importing states, not to mention among their oil-consuming citizens.