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Crude Oil Price Volatility on the Way?

Given the economic disruptions that nearly always happen in the aftermath of oil shocks, it seems important to understand what is behind the timing of transient instabilities in the oil markets.

Oil Caused Recession, Not Wall Street

This essay brings a different perspective to the question of whether oil caused the financial crash of 2008.

Was Volatility in the Price of Oil a Cause of the 2008 Financial Crisis?

A cause for the financial crisis of 2008 is described that differs from conventional wisdom. It is proposed that in the early 2000s, an increase in the volatility of oil took place...The oil shock of 2008, when price doubled over less than a year (peaking at ~ $140 a barrel), is shown not to be an isolated event. Instead, the oil shock of 2008 is the largest in a series of 7 prominent spikes …
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