Full Title:
Author(s): Council on Foreign Relations
Publisher(s): Council on Foreign Relations
Publication Date: June 1, 2016
Full Text: Download Resource
Description (excerpt):
Sharp, rapid swings in the price of oil, both up and down, can have outsize effects on companies, economies, and global geopolitics. Oil price spikes can stunt economic growth, for example, and a sudden price plunge can wreak havoc on cash-strapped oil companies. For countries, an oil price roller coaster can blow a hole in government budgets, prompt wholesale economic reform, or alter geopolitical priorities seemingly overnight.
At a day-and-a-half-long workshop in New York, CFR gathered nearly forty current and former government officials, economists, oil-market analysts, political scientists, and investors to explore what drives oil price volatility, what effects it has on both the economy and geopolitics, and what policy options are available to reduce price volatility.