Material World: The Price of Oil and Fracking

Revealing developments are going on at the moment on the world energy market. Coal has seen its price halved in the past year. The price of oil has fallen, by more than 40 percent since June, when it was $115 a barrel. It is now below $70. This comes after nearly five years of stability and some oil-producing countries want the OPEC cartel to restrict production so as to put up prices. The question being asked is why Saudi Arabia hasn’t cut back production as they have done in the past. There are, of course, a number of conspiracy theories.