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Business Daily: Oil's Murky Future

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Oil's Murky Future

11/04/2017 GMT

BBC World Service - Business Daily, Oil's Murky Future

How the Middle East and Russia will cope in a world of cheaper oil.

Tensions in the Middle East, protests in Russia - there's war and politics involved, but also, some say, the stresses of longer-term economic decline as a result of cheap oil.

Tensions in the Middle East and protests in Russia are not just caused by internal politics and war but also, some say, the stresses of economic decline as the result of cheap oil.  While the price of oil has gone up this week in response to the US military's missile attack on a Syrian government airbase, this uptick is likely, many analysts say, to be short-lived. Some experts now believe the price of oil could remain low forever. That's the view of Dieter Helm, an economics professor at the University of Oxford, who has just written a book, entitled Burn Out. Ed Butler asks Professor Helm to lay out the possible effects of a permanently lower oil price.

Also in the programme, the BBC's Phil Mercer reports from Australia where renewable energy is on the rise. More homeowners are installing solar power battery systems to guarantee that the lights stay on.

(Picture: A Russian LUKOIL oil platform. Credit: MIKHAIL MORDASOV/AFP/Getty Images)

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