As I have stated since early last year, Oil prices (and IMHO, the Ukraine Civil War), are part of a much bigger geo-political power game being played for control of energy sales to Europe.
Triggering a Civil War in Ukraine, on Russia's border in retaliation for stopping Obama's attack on Syria two years ago didn't work, so the Saudi's resort to The Nuclear Option of crashing oil prices, which just happens to have the side effect of the Obamunists' long-desired wish to destroy U.S. Fracking.
Well, remember it was only a year ago that Obama wanted to bomb on BEHALF of the ISIS rebels in Syria.
Supposedly Reagan conspired with the Saudis to crash the oil price in the early/mid 80s to cripple the Soviet Union’s economy in conjunction with announcing “Star Wars” so they hadn’t a hope of keeping up. Of course it cost a huge job loss in the US but arguably it was worth it as it was the beginning of the end for the Soviets.
Nothing like oil prices will remove Russia from Syria. Syria is Russia’s warm water port on the Mediterranean plus additional interests there. What oil price manipulation is doing is destroying America’s developing energy Independence. . Kerpash? .
Reasonable, but Occam’s Razor says it’s because they have no better option.
Why should the Saudi’s cut production? It won’t raise the price.
Europe demand is gonna drop like a rock when the Islamic civil war begins. So that is a stupid strategy and exactly what you would expect from the US. Russia is looking to China and India for the long term. That is where the future lies. Where ever there are Muslims, there will be war and limits on demand. The crescent was broken hundreds of years ago.
Reference Bump ...
Why is it a “conspiracy theory?”
Its been the most talked-about and plausible story out there since the price drop began.
The country that is flooding the market with oil is Russia. They produce more barrels of oil than any country.
Interesting 6 pgs of comments/links at ZH. Thanks for posting.
That’s crazy.
oil prices didn’t ‘collapse’ they got back dfown to where they should be- all that hogwash about ‘rising demand’ driving up prices for years, then all of a sudden demand apparently just drops off severly? Not buying it- There was NO need for prices to have doubled under this present administration- yet it did- Demand for oil did NOT double from 2008 to 2009- yet the price of oil did! Please explain that one to me? We didn’t double our demand in just over a year- nor did the world’s population double suddenly, nor did businesses around the world double- so where did all this new demand come from? They claim ‘supply and demand’ Yet we’re now back down to hwere it should be DESPITE the supply and demand being nearly exactly what it was al lthese years?
They’re getting warm. This is theory “B” to me. Theory “A” is that Russia’s in control.