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What Do Low Oil Prices Really Mean?

Tommaso Galli
Flickr Creative Commons

As the price of oil continues to drop, Politico askeda number of experts what the hidden consequences of the crash would be. Their answers varied.

John McLaughlin of Johns Hopkins University said every indication is that prices will not go up markedly. They may even drop further.

Ian Bremmer of the Eurasia Group says Middle East political structures are brittle and based on oil wealth. He asked, what keeps these countries together when the oil money runs out?

Gal Luft of the Institute for the Analysis of Global Security said this could actually become the mother of all oil crises, worse even than the late 70s.

Dan Esty of Yale University said the crisis could strengthen the long-term prospects of alternative energy.

And John Deutch of MIT said lower oil and gas prices are good for American consumers and U.S. foreign policy. He said that will hold true for as long as the prices last.