The oil flowing out of the ground in the United States is like blood flowing out of Russian veins. The more we pump, the more the Russian economy dies.
The good news is the Opecker Princes, South America Opeckers and Putin are getting kicked below the belt each day, when the price of oil drops again and again.
The Russian Ruble is getting stomped like a wounded snake on the ground
NEW YORK (MarketWatch) — The dollar rose to new record highs against the ruble Monday, as falling oil prices were compounded by fears that some of Russia’s largest companies could default on their dollar-denominated debts.
In recent trade, the dollar rose to 60.5983 rubles RUBUSD, -6.58% — its highest level ever — as the price of West Texas Intermediate crude oil for January delivery sunk below $58 a barrel Friday. The dollar was worth 58 rubles Friday.
I agree. I also wonder if we shouldn’t be buying more for our own strategic reserve and to keep our own production viable, the destruction of which is the third goal of the Saudis.