Before we all get happy about the lower oil prices and gas prices - TopicsExpress

Before we all get happy about the lower oil prices and gas prices at the pump.... Falling oil prices could also lead to global instability. Many of the oil-producing countries in the Arabian Peninsula require high oil prices to maintain generous social programs designed to keep unemployed citizens from getting unruly. Russia, Venezuela, Nigeria, Iran, and Mexico also rely heavily on oil revenues. Some are better prepared to withstand lower prices than others, but all will have to make tough decisions on spending. Political unrest is one thing, but low oil prices could eventually set off a new financial crisis triggered by a round of debt defaults. From the motely fool article on MSN

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