Cheap Oil: A Boost or Bane for the Economy?

A pump jack in an oil field. (Photo: Sharon Sperry Bloom/Flickr)

On Friday, oil prices sank to around $30 per barrel. Since June 2014, the price of oil has fallen more than 70 percent, thanks to overproduction in many countries. Motorists are rejoicing, but on Wall Street, investors are worried that the price of oil will take years to stabilize and threatens the economic prospects of countries that rely on oil revenue. We talk with experts about how this glut is impacting the economic and geopolitical landscape.

Listen to the full interview (also available on KQED Radio):

Michael Krasny

Antonia Juhasz, author of “The Tyranny of Oil” and “Black Tide”
Frank Wolak, professor of economics, Stanford University
Kevin Book, managing director with Clearview Energy Partners