Special: oil industry

The week's podcast is a special look at the oil industry.The price of oil has plunged from highs of $115 last summer and now hovers around the $50 mark, and is heading towards six-and-a-half year lows. What is pushing the price lower and what does it all mean?Robin Pagnamenta, The Times Energy Editor and Marcus Leroux, The Times Industrial Correspondent, discuss the main issues, including what it means for you, the consumer. Marcus also takes a punt at guessing how much lower the oil price could go and argues that the next couple of years could be a "watershed" moment for the North Sea oil industry. So is fracking a viable alternative? Robin says that with the oil price so low (which he thinks will remain the case for at least the next year), the controversial industry could find itself in economic trouble. So why do it? You can find out and follow the developments from the oil industry and all other financial news, as it breaks every week day on our Business Now live blog:...

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