The Dark Side of Depending on Black Gold
The development of oil prices between 2014 and 2016 has seen a sharp decline from well over $100 in mid-2014 to under $30 in early 2016. While for most of us in the West, the impact of the dramatic dip in oil prices is limited to a pleasant reduction in the cost of filling up at the gas station, this article will examine the impact on countries whose entire economy depends on oil and gas as well as the consequences of this development for the citizens and residents of such countries.
