The Economist | Who's afraid of cheap oil? The Economist ALONG with bank runs and market crashes, oil shocks have rare power to set monsters loose. Starting with the Arab oil embargo of 1973, people have learnt that sudden surges in the price of oil cause economic havoc. Conversely, when the price slumps ... Saudi Arabia Will Be the Big Loser from the Plunge In Oil Prices Why won't oil producers cut supply to boost the price? |