by John Feffer Venezuela is at the mercy of its fluids. For a country that depends on oil for 95 percent of its exports, the prolonged drop in the price of crude has been a serious financial blow. If nothing… Continue Reading
by Alex Stout The fall in the price of oil from $115/barrel in mid-2014 to $27/barrel this year has had a devastating impact on petro-states all over the world. Whereas the Kingdom of Saudi Arabia, the world’s top oil producer… Continue Reading
by John Feffer The market was supposed to save the planet. That, at least, was the argument of many economists grappling with the problem of climate change. As fossil fuels became scarcer, they pointed out, the price of oil and natural… Continue Reading
by Michael Klare The plunge of global oil prices began in June 2014, when benchmark Brent crude was selling at $114 per barrel. It hit bottom at $46 this January, a near-collapse widely viewed as a major but temporary calamity for the… Continue Reading
by Paul R. Pillar The steep drop in the price of oil during the latter half of 2014 has generated much comment about how this development has weakened major oil-producing countries and supposedly made their governments more pliable on issues… Continue Reading