How The Arab Spring Paved The Way For A Double-Dip Recession, And Why It Might Prevent The Next One

Oil prices–which spiked during the start of revolts around the Middle East–have now come down due to low demand and a sluggish economy. Will the extra oil produced once the area calms down be enough to save the economy? With the Libyan Civil War winding down the question on the rebels’ NATO allies now becomes : “When can we bring the oil fields back online?” It wasn’t until the Arab Spring arrived in Libya that worldwide oil prices really began to fluctuate, as the country’s output of light sweet crude quickly dwindled from 1.3 million barrels a day to a mere 60,000, a loss equivalent to five percent of Europe’s total supply, or more than 15 percent of Italy’s, France’s, Switzerland’s and Austria’s

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How The Arab Spring Paved The Way For A Double-Dip Recession, And Why It Might Prevent The Next One