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Reports by James Stock • December 04, 2014
Oil prices have fallen nearly 40 percent since June, translating to a drop of nearly $1 in gasoline prices. Declines in oil prices are generally seen as an economic windfall for net petroleum importers, like the United States. As the United States becomes a much larger oil producer as well, however, lower prices create different winners and losers. This policy brief explores the overall economic impacts of a sharp drop in oil prices for the United States. It was co-authored by Center Founding Director Jason Bordoff and Harvard University Professor James Stock, who served until July 2014 as a Member of the President’s Council of Economic Advisers.
CGEP recently hosted a private roundtable conducted on a not-for-attribution basis that focused on key geopolitical issues and oil markets in various hotspots, including the Middle East, Russia/Ukraine, China, and the Americas.
Full report
Reports by James Stock • December 04, 2014