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Oil is Well that Ends Well

Francisco G. Carneiro's picture
Also available in: Español


Why are petroleum prices dropping so fast anyway? Have they reached rock bottom yet? Should we be worried if they continue to fall? These are questions that probably every finance minister in either oil-rich or oil importing nations is trying to answer.  

Latin America: are we forever at the mercy of high oil prices?

Ariel Yepez's picture

También disponible en español

 

A few weeks ago a rare storm event known as "Derecho" ravaged the Washington, DC area, claiming many lives and leaving 1.3 million homes and business without electricity. My house was unfortunately among those hit hard by the power outage and in an attempt to cope with the 90F+ temperatures unleashed by the storm, we moved down to the basement -- generally, the coolest part of the house.

For the first few days the novelty was fun for the kids, but as the days wore on, frustration grew, in part because we had no idea when the power would come back on.