I was on Twitter a few minutes ago and my feed was full of people talking about the fall in petrol prices, some of them were talking about consequences in the dollar rates and I don’t understand at all. How does the petrol price affect world economy? And how does it affects all of us non billionaire people?
In: Economics
Well, in this case, a bunch of investors are going to get sued for breach of contract, because they promised to take delivery of oil and there’s nowhere left to store it.
The direct impact of low oil prices isn’t really detrimental to anyone outside the oil industry, it’s more a symptom of people not going out and doing stuff, which is the real problem.
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