While most American consumers welcome the declines in gasoline prices that have accompanied falling crude oil prices, the impacts are not uniformly beneficial. In this two-part series, we examine the causes for collapsing oil prices, the impacts of persistently low prices on energy producers, and the consequences for U.S. banks that lend to energy exploration and production companies, oil field service companies, and the households and individuals that live in regions dominated by oil and gas exploration.

Part two emphasizes the increased likelihood of default by these companies and individuals as well as the consequences for their lenders.

Readings in Quantitative Risk Management
The Collapse of Crude Oil Prices: How Low and For How Long?
Part Two: Impacts on Lenders
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