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Consequences of the Global Oil Bust

By Fareed Zakaria, Washington Post - August 21, 2015

While we have been watching the Islamic State and discussing Iran, something much bigger is happening in the world. We are witnessing a historic fall in the price of oil, down more than 50 percent in less than a year. When a similar drop happened in the 1980s, the Soviet Union collapsed. What will it mean now?

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