Over the course of 2014 the prices the world paid for crude oil tumbled from over $125 per barrel to around $45 per barrel now, and could easily drop further before recovering for a time to then begin the cycle of boom and bust all over again . You get the idea. In the end, the wild whipsawing of the oil market, and the even wilder whipsawing of financial markets, currencies, the rolling bankruptcies of energy companies, followed by the entities that financed them, then national defaults of the countries that backed these entities, will in due course cause industrial …read more
Source: Time
