From Guardian: When oil almost topped $150 back in July, politicians flew around the world trying to quell the panic it created. Many commentators declared the era of cheap oil over for ever. Now the price has sunk below $50.
Politicians are still flying around the world, trying to quell a different form of panic. Many analysts declare that with the recession, and the drop in demand for the black stuff, cheap oil is back to stay….. Full Article: Source