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2015 will go down as the year when the oil price crash did not result in a swift decline in oil output. At a first glance, this seems a very strange phenomenon. Although the price reduction has been massive (-75% in 18 months) it is certainly not the fastest: in 2008, with the crash of … 
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OPEC Says Oil Remain Low for 24 Years! China Debt Hits 19 Trillion Renminbi! Economic collapse and financial crisis is rising any moment. Getting informed ab...
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Although better known for their oil fields, refineries, and petrol stations, Shell, BP and Total SA are also the world’s biggest oil traders
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When the price of oil falls dramatically, that is a sign that economic activity is slowing down. It can also have a tremendously destabilizing effect on financial markets. As you will read about ...
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Oil is simply the energy byword of the modern age. It used to be coal and will soon be natural gas. Resource extraction has a ruby red history that surges in parallel with the rise of industrial capitalism. From the earliest days of the Manchester coal mines, industrial capitalism has depended on massive resource extraction: French rubber plantations in Southeast Asia that were desperately defended when faced with potential nationalization; destructive oil exploration in the Ecuadorian Orientale on the edges of the Amazon rain forest; the government-led ejection of indigenous Naxalite populations from the Indian interior so multinationals can mine the mineral-rich hill country; Nigerian natives battling in vain to stave off the corporate piracy of their hydrocarbon wealth; coltan mines in the Congo flinging aside local communities just to speed new smart phones to store shelves. Note the presence of conflict at each of these resource hubs.
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The financial crisis was bad, but wait until you see what's coming down the pipe from the fossil fuel industry, warns social entrepreneur Jeremy Leggett
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Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation
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