Is the Global Economy in for Another Oil Shock?
Study Released March 10, 2011
Commodity Report - Crude Oil - February 2011
This is not the first time oil history has been marked by the geopolitics of the Middle East. The Arab oil embargo of 1973, the Iranian revolution in 1978-79 and Saddam Hussein’s invasion of Kuwait in 1990 serve as good reminders of how the region’s volatile mix of geopolitics and geology can cause chaos on its people and the global economy. With protests cascading across the Arab world (see Figure 1), is the world in for another oil shock?..... Download full report.February 2011