The longer such price levels persist, the more devastating the consequences are likely to be.
To stay on top of important articles like these, sign up to receive the latest updates from TomDispatch.com here.As 2015 drew to a close, many in the global energy industry were praying that the price of oil would bounce back from the abyss, restoring the petroleum-centric world of the past half-century. All evidence, however, points to a continuing depression in oil prices in 2016 — one that may, in fact, stretch into the 2020s and beyond. Given the centrality of oil (and …read more
Source: AlterNet
