War and the Global Economy Are Colliding
Higher energy prices will likely lead to a windfall for Latin America — and a reckoning for Asia’s export economies.
Stuck.
Photographer: AFP via Getty Images
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Governments around the world agreed to release 400 million barrels from emergency oil reserves to ease surging global energy prices on Wednesday. It’s the largest discharge ever made by the International Energy Agency. With that amount of oil, one could theoretically fill 25,000 Olympic-sized swimming pools or 20 NFL stadiums, fuel a commercial airplane for roughly 50 years of continuous flight or cover the entire surface of Manhattan with about 3.5 feet of oil.1