The World Isn’t Ready for Peak Oil
Two months ago, the world experienced a historic collapse in oil prices, as coronavirus-related shutdowns cratered global demand, briefly turning prices for May delivery negative. Prices have since rebounded modestly, but they remain unsustainably low for countries that depend on oil exports to generate government revenue.The resulting instability, from the Middle East to Africa to the Americas, raises a flurry of immediate national-security concerns.