Update: Huge savings accrue to China
http://www.nytimes.com/2016/01/22/business/energy-environment/this-time-cheaper-oil-does-little-for-the-us-economy.html
Oil and the Global Economy
http://www.nytimes.com/2016/01/22/business/energy-environment/this-time-cheaper-oil-does-little-for-the-us-economy.html
Oil and the Global Economy
Saudi Arabia Dismisses Calls for Production Cuts
Russian Economic Woes
Related:
Does the decline in oil prices help or hurt the global
economy?
Wise words from FT:
http://www.ft.com/cms/s/0/f049b3f2-bb90-11e5-b151-8e15c9a029fb.html
“While there are undoubtedly some losers from the fall in the price of crude, notably oil-exporting countries and banks exposed to the energy sector, the boost to real incomes in the rest of the world should outweigh them.”
“While there are undoubtedly some losers from the fall in the price of crude, notably oil-exporting countries and banks exposed to the energy sector, the boost to real incomes in the rest of the world should outweigh them.”