2AC---2020
NOTE: you can find a lot of oil shocks and 2020 evidence in the Oil DA file put out by HKMM
2AC---Oil Shocks Bad
The Economist 19 [The Economist, 4/27/2019, "Rising oil prices could prevent a world economic rebound," Economist, https://www.economist.com/leaders/2019/04/27/rising-oil-prices-could-prevent-a-world-economic-rebound, accessed June 25, 2019]//a-yep
Yet right now, pricier oil would be bad news for the global economy. It would hit its weaker spots. Europe, whose economy is in worse shape than America’s, has no shale industry to compensate for a hit to its consumers. China, which imports vast quantities of the black stuff, was the source of much of the recent global growth scare. And economic crises in Turkey, Argentina and Pakistan would be made worse by the higher inflation and larger current-account deficits that a rising oil price would bring. Higher oil prices could also reduce central bankers’ leeway to see off any downturn. After oil prices rose in 2018, several central banks in emerging markets subsequently raised rates, fearing inflation. In America and Europe policymakers have this year been able to loosen the stance of monetary policy, providing economies with a much-needed boost to growth, because they can point to muted inflation expectations. Higher oil prices could start to put that trend into reverse. With many labour markets tight, central bankers are more likely to be spooked by oil-driven inflationary pressure. A serious oil-price shock remains a possibility at this stage rather than a probability. But with the world economy still in a fragile state, it is an uncomfortable risk to run.
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