No one knows what will happen tomorrow on Wall Street. Even the most esteemed analysts can only make educated guesses. As the old saying goes: past performance is not indicative of future results.
How l
ong will it last? Who wins & loses from it?
On the New York Mercantile Exchange, a barrel of light sweet crude is currently worth well under $60. Prices have dropped more than 25% in a month and almost 45% year-over-year. What is behind this freefall? How long will prices keep dropping, and who does this development hurt and benefit?1
Oil prices haven’t cratered simply because of lessening demand. Make no mistake, waning demand is a major factor – and in its latest 2015 forecast, the International Energy Agency projected global demand for crude weakening further. But this is just part of the story.2
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Previous Awards were received for
2006, 2007, 2008, 2010, 2011, 2012, 2014, 2015, and 2016
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