This is bad:
ISIS are selling oil “at a discount of between $30 and $40 a barrel through smuggling routes in Turkey, Kurdistan and Jordan,” he said. And though the terrorist group is not seen as strong enough to seize the rest of Iraq’s 2.5 million barrels a day of production, the small amount the Islamic State now controls is enough to yield about $1 billion of year in funds to support their brutal operations, he said.
“That’s a scary situation. That’s a lot of money for a terrorist group to have access to.”
In his travels in Iraq and elsewhere in the Middle East, Mr. Faulkner said he’s found allies are no longer certain that the U.S. will provide military support if they need it, creating openings for troublemakers. “The guard of the world may be asleep. It’s a very scary situation.”
“You have allies asking us, ‘If ISIS invades, will the U.S. help us out?’ Most allies don’t know anymore. The answer used to be a solid yes. It’s because of the downsizing of the military, 20 long years of war, lots of debt” and other legacies of the wars in Iraq and Afghanistan, he said.
http://www.washingtontimes.com/news/2014/sep/8/us-oil-surplus-eases-prices-in-global-crises
Live oil price: http://www.oil-price.net/
If we get rid of ISIS, keep fracking and lift oil export restrictions, the oil price will go to around 80.
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we will get rid of Saudi money supporting Salafist maniacs and Russia has to reform.