Oil rulers fear plummeting prices

June 25, 2012

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Saudi Arabia decided to increase oil production last year. Gas prices are now responding and one analyst predicts $2 per gallon by the fall of this year. If the drop in oil prices holds true, there are big implications in store for oil states, the global economy and climate change.

Steve Levine is a fellow at the New America Foundation and a contributing editor at Foreign Policy magazine, where he writes The Oil and the Glory, a blog on the geopolitics of energy. He'll explain why dropping gas prices aren't good for everyone.