The lowest gas prices in years are seen on a fuel sign in Lawrence, Kan., Wednesday, Nov. 26, 2014. The cheapest gas in half a decade is expected to entice more Americans to pile into cars, trucks and vans .

The lowest gas prices in years are seen on a fuel sign in Lawrence, Kan., Wednesday, Nov. 26, 2014. The cheapest gas in half a decade is expected to entice more Americans to pile into cars, trucks and vans .

Global oil prices have fallen by nearly 40 percent since the summer. A surge in U.S. production combined with low demand in Asia and the Eurozone are behind the decline. OPEC met last week and decided not to cut production. Some say the cartel is engaging in a price war with U.S. oil producers. Here in the U.S., gas prices have fallen below $2.88, putting more money in consumers’ pockets. But in Russia, Iran and Nigeria, falling oil prices are devastating the economy. Diane and guests discuss falling global oil prices and what it means for U.S. consumers, the environment and geopolitics.

Guests

  • Moises Naim senior associate, Carnegie Endowment for International Peace, and chief international columnist, El Pais; author of "The End of Power: From Boardrooms to Battlefields and Churches to States, Why Being in Charge Isn't What It Used to Be."
  • Kevin Book managing director of research, ClearView Energy Partners
  • Jim Tankersley economic policy correspondent, The Washington Post; editor of the "Storyline" policy blog

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