Economics of Oil 2014

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 Accessing the link, read the following article "Sheikhs vs. Shale" from The Economist magazine on 12/06/2014.  Apply and explain the concepts you and your classmates have learned about market forces and supply and demand analysis to explain why the "economics of oil changed" during this time and why some oil producers risk going bust if global oil prices fell to low.  "The New Economies of Oil: Sheikhs v Shale" (The Economist, 12/06/2014) 

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