26 Mar '16, 4pm

#peakoil Cheap Oil Slow to Boost Global Growth: International Monetary Fund researchers said the benefits from...

Northwest Resident on Sat, 26th Mar 2016 10:32 am Could it be that the so-called “cheap oil” isn’t actually all that cheap? Today’s price might be “cheap” relative to the unsustainable and ultimately destructive debt-and-muppet-driven high price of oil before it dropped like a rock. But $40 per barrel, while “cheap” enough to drive frackers out of business and put oil-dependent export nations on death watch, STILL isn’t “cheap enough” to match the truly cheap oil that fueled post-WW2 economic expansion. Not even close. The deterioration in global economic growth is unstoppable. Massive debt and fraud have bought time, but time is running out. We are on the gently sloping downside of a wild economic ride previously fueled by cheap oil, with a sudden drop-off dead ahead.

Full article: http://peakoil.com/consumption/cheap-oil-slow-to-boost-gl...

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