Pumping by OPEC, the Organization of the Petroleum-Exporting Countries, has failed to derail the boom in American shale oil.
First and foremost, the promise of export-led growth has failed in too many places.
President Obama acknowledges that one in three U.S. manufacturing jobs depends on exports, and yet he has failed to advance a trade agenda that would result in more U.S. manufacturing jobs and sales.
To bring in its cars, for instance, BMW has exported rice.Ms Fernández's plan has failed: currency reserves have plummeted to $29 billion, from $52 billion in 2011.
Russia is highly dependent on oil revenues (hydrocarbons contribute over half the federal budget and two-thirds of exports) and over the past decade it has failed to diversify its economy.
Yet it has been pulled along by exports, and despite repeated predictions, household spending has failed to take off.
That fact that Saudi Arabia and the Organization of the Petroleum Exporting Countries have committed to make up the difference has failed to cool prices.
Yet it still happens day after day -- even though Texas and other states have banned horse slaughter, Congress has failed to shut down the cruel exports.
It is easy to argue that based on these figures alone Britain has failed to rebalance towards high productivity employment sectors underpinned by industrial investment and exports.
Ironically, Washington has failed to deal effectively with Pyongyang's transgressions when it violated accords and when it egregiously exported nuclear technologies in the past.
Secondly, Osborne has failed in his other big aim, to make the economy less reliant on debt and more reliant on manufacturing and exports.
