What Do Weak Oil Prices Mean for the South China Sea?
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When it comes to territorial tensions in the South China Sea, it’s more about what goes through it than what lies beneath it.
Oil last week dropped below $46 a barrel to more than five-year lows. The biggest collapse in energy prices since the 2008 global recession has prompted companies from Royal Dutch Shell Plc to Norway’s Statoil ASA to scrap projects not considered viable at current prices and drawn attention to the future of costly deep-sea exploration.