Gary Shilling, president of A. Gary Shilling & Co., talks about the outlook for the oil market and Federal Reserve policy. Here is a direct video link.
And btw…interesting to note, past similarly sharp declines in the price of oil have usually signaled that the US had entered recession. Of course, the recessions were not officially confirmed until much later in retrospect, after the stock and corporate bond markets had taken a pounding. Food for thought.