The collapse in the oil price is the result of oil - as a commodity - being "freely traded for the first time since 1928".
It's disrupting everything. Really.
I've been reading about how this is creating economic uncertainty in OPEC countries that have never, in modern history, had economic depressions/recessions. It further makes the case for innovative fuel and energy sources, but it's also a bit terrifying to wonder how countries like Saudi Arabia and Kuwait will cope with the loss of revenue.
There's talk of an IPO for Saudi Aramco, which is insane. There's going to be some shifting of wealth among the uber rich soon and who knows where it could lead. If those people get nervous big things are happening.