I think it’s Saudi Arabia’s war against U.S.A. oil producers
The threat that is Islam: the Muslim plan for world domination.
http://www.nowtheendbegins.com/pages/iran/muslims_plan_for_world_dominance.htm
Driven by doing nothing? They haven't raised their production levels, that is the US and to a lesser amount, Canada.
The drop in oil price hurts all producers cause they have fixed costs. The drop in the ruble value verses the dollar helps Russian oil producers cause they sell in dollars and their costs are in rubles.
While I understand your sentiments and agree with you, this could also backfire (the law of unintended consequences)...
With the Russian economy cratering, it might be time for Putin to prop up oil prices and his own image by starting a war. Iran may do the same. I am sure that Putin is already blaming the sanctions for his bad economy and will demagogue this issue. This may be the fuse that lights a world war...
Consumers definitely benefit as do India and China. Russian is definitely getting pounded.
I posted this earlier on another thread...
This is actually pretty troubling. Anybody remember the lead up to Pearl Harbor and the second world war?
For those of you that dont, it was all about the money. Their economy was being squeezed. Russia could be very dangerous in a situation like this.
The bright spot is that it is OPEC (namely the Saudis) that are screwing with the price of oil to damage our production and that is hurting Russia more than so far it is hurting us.
Poking ones finger in Russias eye may not be wise. Russia could very easily change the equation in their favor by sponsoring an attack by Iran on the Saudis.
Just saying... These are dangerous times.