Oil Price Crises: Proposal
The importance of oil as a product in the world market has momentous ramifications if there is a variation in its price, whether upward or downward. This will bring about sweeping economic and political consequences (Klare 5). The world has witnessed a drop in the prices of oil in the international market. When making predictions in a recent book in 2011, Moors stated that a major problem was in the offing and that it involved financial and political consequences (4). Towards the end, the volatility nature of the oil market was considered; it would have a significant bearing, and the prices of oil would precipitate a crisis because of a reduction in its level. Predictions were …
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