London crude traded below $80 a barrel on Wednesday for the first time since Septermber 2010, closing at $80.83, also a four year low.
Articles: global oil prices (3)
Money can be looked at as a marker for energy (alternatively; money is a claim on energy). As energy prices rise and/or energy supplies decline, this will depreciate the purchase value of money (and other paper constructs representing money).
Since the autumn of 2011, a storyline of “oil revolution” and oil abundance--even “North American energy independence”—has taken the US media by storm.