Who Governs Global Oil Prices?
... prior to it, Russia would have once again plummeted down the abyss. A question now stands for policymakers, how to avoid another collapse in the more than likely future recession. As we know, the problem lies in the fact that petrodollars derived by OPEC and now Russia cannot be easily spend by the actual producers, as their economies are not well developed to use the vast inflows of liquidity without inflationary repercussions. As a result, this huge liquidity is invested back into the large developed economies that also tend to be the actual consumers of oil. It is an incredible carrousel or a resource curse, except people that fall of it, are real and sometimes an entire nations can come off the horse. I am particularly interested in how ...