'energy markets' in International Economics: IB Economics

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Scooped by Graham Watson

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From www.youtube.com - January 12, 2023 4:07 PM

Graham Watson's insight:

Another brilliant clip, this time the Economist looks at the impact of the war in the Ukraine on global energy markets seeking to draw parallels between this and the OPEC oil price shocks of 40 years ago.

It tries to suggest that we could learn a number of lessons - the fact that oil embargoes don't work, the implications of such supply-side shocks on global energy security, the consequence of an oil price shock for the development of alternative energy sources, and indeed this clip is very good at highlighting the similarities between the two situations.

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