| Year 2015 will be crucial as shale oil firms begin to feel the pinch of low prices. Are falling oil prices good or bad for the global economy? And how do they work for India? Till recently these questions were no-brainers. Cheaper oil is obviously good for the global economy; for an energy-intensive economy such as India’s, which also depends on imported oil for meeting four-fifths of its needs, a fall in oil price is like manna from heaven.
Yet, the biggest fall in the stock market in five-and-a-half years last week was triggered by crude oil piercing the $50 a barrel mark on its unrelenting downward journey. Isn’t that ironic?..............................................Full Article: Source
|