What Record Low Oil Prices Mean for the Global Economy, Geopolitics, and Climate Change

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In The Media

What Record Low Oil Prices Mean for the Global Economy, Geopolitics, and Climate Change

The oil price crash has implications for the global economy, geopolitics, and efforts to limit carbon emissions.

By Moisés Naím

Published on Mar 1, 2016

Source: NPR’s Diane Rehm Show

Oil prices have plunged more than 70 percent over the past two years. U.S. stockpiles of crude are at record levels and a slowing global economy is keeping demand for oil low. A proposal by a few members of OPEC to freeze production has gone nowhere and many economists say it wouldn’t significantly alter the oil glut. Several states dependent on oil revenue are facing strained budgets and job losses as the price crash continues. And a number of U.S. companies are at high risk of defaulting on loans, raising the specter of another financial crisis.

Carnegie’s Moisés Naím, guest host Indira Lakshmanan, and other experts discuss the oil price crash and what it could mean for the global economy, geopolitics, and efforts to limit carbon emissions.

This broadcast originally appeared on NPR’s Diane Rehm Show.

About the Author

Moisés Naím

Distinguished Fellow

Moisés Naím is a distinguished fellow at the Carnegie Endowment for International Peace, a best-selling author, and an internationally syndicated columnist.

Recent Work

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Carnegie India does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

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