A Worldwide View of Low Oil Prices

It’s not just California that’s feeling the effects of cheap oil. Thousands of contract workers in the oil industry have been laid off around the world. This week, oil giant BP announced that it will freeze pay for 84,000 workers, and governments in places like Venezuela, Nigeria and Russia - which are dependent on oil - are running out of money. We take a look at how low oil prices are playing out around the globe.