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Business Daily: The Oil Industry's 'Game Of Chicken'

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The Oil Industry's 'Game Of Chicken'

04/02/2016 GMT

BBC World Service - Business Daily, The Oil Industry's 'Game Of Chicken'

Amidst plummeting oil prices, what is future of the oil industry?

Amidst plummeting oil prices, what is the future of the oil industry? One expert says that it is a "game of chicken" to see which company will fall out first.

Amidst plummeting oil prices, we evaluate how we got here and what the future of the industry is. Industry expert Antonia Juhasz says that despite thousands of job losses in the industry, firms are still producing the same amount of oil - and that it is a "game of chicken" to see which company will fall out first. Finally, we find out why the low oil price could make us fatter - economist Tim Harford explains the unexpected social consequences of the oil price drop.

(Picture: Hands holding black oil. Credit: Getty Images)

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