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Page added on August 29, 2015

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Oil’s Race to the Bottom and the Global ‘New Normal’

William Lee of Citi Economic Research discusses the role oil is playing in market volatility and the global economy. He speaks on “Bloomberg Surveillance.”

2 Comments on "Oil’s Race to the Bottom and the Global ‘New Normal’"

  1. Inflatable Butt Plug on Sat, 29th Aug 2015 8:56 pm

  2. joe on Sun, 30th Aug 2015 8:59 am 

    It wouldn’t take a big cut to drive up prices, given such a razor thin spare capacity. Saudi wants it’s market share and who will want oil when we all drive Teslas and use solar panels? It’s econ101 higher prices for longer spurs substitute and alternative products as well as new entrants. 80-100 oil puts opec out of business in a generation. The difference between Iran and Opec generally is its not a total basket case economy, it’s got more irons in the fire than Saudi does. Once the oil is gone in Saudi it’s back to herding sheep and riding camels and encouraging pilgrims to come. But how many will come in 50 degree heat and no air conditioning is anyone’s guess.

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