Oil prices have fallen to multi-year lows. This significant drop raises questions about its impact on various stakeholders.

CNBC investigates what these low prices mean for oil producers, major oil companies, and consumers.

This excerpt is from Professor Leif Wenar's January 27th presentation in Seattle. The full speech is available here. Wenar is the author of Blood Oil: Tyrants, Violence, and the Rules That Run the World.

He holds the Chair of Philosophy & Law at Kings College London, where he has worked since 1997. A Stanford alumnus, he completed his doctoral thesis at Harvard with John Rawls, Robert Nozick, and T.M. Scanlon.

This excerpt was produced by Ruth Ann Barrett of EarthSayers.tv, Voices of Sustainability. Learn more and get involved in the Clean Trade movement at cleantrade.org.

This excerpt features Leif Wenar's January 27, 2016 speech, drawing from his book, "Blood Oil: Tyrants, Violence, and the Rules That Run the World."

Curated by Ruth Ann Barrett for EarthSayers.tv, Voices of Sustainability, this piece explores themes like 'Might Makes Right.' For further details, visit the Clean Trade site: http://bit.ly/mightnotright.

Leif Wenar, author of "Blood Oil: Tyrants, Violence, and the Rules That Run the World," delivered a talk at Town Hall Seattle on January 27, 2016. He argued that the principle "might makes right" must be retired. Wenar serves as the Chair of Philosophy Law at King's College London, having studied at Stanford and Harvard under John Rawls, Robert Nozick, and T.M. Scanlon.

His expertise includes property rights and international ethics. For more details on his work, visit his King's College London profile or CleanTrade.org. "Blood Oil" is available for purchase via Amazon or at your local bookstore.