As natural gas prices have been declining in the United States due partly to progress in shale gas development, we might not need to be overly concerned about the rise in crude oil prices.
BIS Review 45/2001  1  In the final analysis, the global slowdown is the result of some combination of country-specific shocks, spillovers from the country-specific shocks, and truly common shocks. As I noted earlier, the shape of the global slowdown will also be affected by the ability and willingness of the policymakers to respond to that slowdown and the effectiveness of those responses.