Oil prices have now dipped-albeit only briefly-below US$40 a barrel, a precipitous plunge from their highs of more than US$147 a barrel in July. Just as high oil prices reworked the international economic order, low oil prices are now doing the same. Such a sudden onset of low prices impacts the international system just as severely as recent record highs.But before we dive into the short-term (that is, up to 12 months) impact of the new price environment, we must state our position in the oi

Oil prices have now dipped-albeit only briefly-below US$40 a barrel, a precipitous plunge from their highs of more than US$147 a barrel in July. Just as high oil prices reworked the international economic order, low oil prices are now doing the same. Such a sudden onset of low prices impacts the international system just as severely as recent record highs.But before we dive into the short-term (that is, up to 12 months) impact of the new price environment, we must state our position in the oi

Oil prices have now dipped-albeit only briefly-below US$40 a barrel, a precipitous plunge from their highs of more than US$147 a barrel in July. Just as high oil prices reworked the international economic order, low oil prices are now doing the same. Such a sudden onset of low prices impacts the international system just as severely as recent record highs.But before we dive into the short-term (that is, up to 12 months) impact of the new price environment, we must state our position in the oi

Oil prices have now dipped-albeit only briefly-below US$40 a barrel, a precipitous plunge from their highs of more than US$147 a barrel in July. Just as high oil prices reworked the international economic order, low oil prices are now doing the same. Such a sudden onset of low prices impacts the international system just as severely as recent record highs.But before we dive into the short-term (that is, up to 12 months) impact of the new price environment, we must state our position in the oi

Oil prices have now dipped-albeit only briefly-below US$40 a barrel, a precipitous plunge from their highs of more than US$147 a barrel in July. Just as high oil prices reworked the international economic order, low oil prices are now doing the same. Such a sudden onset of low prices impacts the international system just as severely as recent record highs.But before we dive into the short-term (that is, up to 12 months) impact of the new price environment, we must state our position in the oi