Will Oil Help Or Hinder the Recovery?

With oil prices on an unprecedented roller-coaster ride over the last year, our senior reporter Matt Philips caught up with energy guru Dan Yergin, to talk about what effect petro-prices will have on the recovery. See Matt’s piece below:

July 11 marks the one-year anniversary of oil peaking at $147 a barrel. That same month in 2008, global production hit a record high of 74.8 million barrels of crude a day. The talk wasn

To take stock of what it all means, I spoke with Dr. Daniel Yergin, author of the Prize: The Epic Quest for Oil, Money and Power, and chair of IHS/CERA.

When was the last time we saw this kind of volatility over such a small period of time?

“The last time it was this extreme was back in 1998, when oil fell to $10 a barrel on the back of the Asian financial crisis. Before the end of last year, there had never been a decline of $100 before, because it had never really been above $100 before.”

Newsweek