Rudaw
Washington DC – One of the big surprises in the last months of 2014 was the dramatic drop in global oil prices.
For years there has been concern about how HIGH oil prices might affect global growth and security.
Now the opposite seems to be the case. Oil has dropped to around 60 dollars a barrel… a far cry from its high of above a hundred dollars.
Russia’s economy is reeling, other oil-dependent economies are threatened, and alternative energies may become economically unviable.
But there are winners too, including energy importing nations, farmers and of course, consumers, every time they fill up their cars.
Today we’ll examine the causes of the oil price drop, who the winners and losers are, and what the long term prospects are for energy prices.
Key guests:
- Guy Caruso, a former administrator in the US Department of Energy and now with the Center for Strategic and International Studies.
- Nick Loris, an economist and energy expert at the Heritage Foundation here in Washington DC.
- Marina Ottaway, a senior scholar at Wilson Center who follows Middle East politics and economics.
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