What Are The Consequences Of Cheap Oil?

In the last six months the price of oil has collapsed dramatically. It has been called an oil shock. Previous oil shocks have had profound and long-lasting effects. No single commodity is more important to the global economy – and therefore to global politics. What are the political consequences of cheap oil? Contributors include an ex-president of Shell Oil, a former US energy secretary and one of the world’s leading thinkers on the subject. (Image: Oil rig in the North Sea. Credit: Press Association)