As Oil Prices Drop, Some Seek Hidden Hands Behind Market Forces

Oil pumps work at sunset in the desert oil fields of Sakhir, Bahrain, Oct. 14, 2014 (AP photo by Hasan Jamali).
Oil pumps work at sunset in the desert oil fields of Sakhir, Bahrain, Oct. 14, 2014 (AP photo by Hasan Jamali).
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Oil occupies a special place in the world of international trade and in the public lore. No other commodity carries the political, strategic and tactical power of petroleum. Since it became the world’s primary fuel less than two centuries ago, oil has played a major role in shaping world events, triggering trade embargoes and colonial wars, making and breaking political alliances and always offering a justification, real or imagined, for international conflicts. It’s hardly surprising, then, that the recent precipitous drop in global oil prices has generated a flurry of conspiracy theories. Speculation about “the real cause” behind the current […]

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