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THEE most regressive tax known to middle- and lower-Americans and now THIS is the **** they're going to try to sell off: lower prices are bad for you, higher prices are good.
You know with these New World Order cockroaches you just can't win.
I thought it was pretty well known that one of the reasons why gasoline is so cheap right now is opec (read saudis) selling oil at cut rates in order to cut the american oil industry off at the knees.
Edited to add - keep in mind the glut could also affect currency exchange rates, and not necessarily in a way that would benefit ordinary americans...
Saudi started this back in October with their oil deals.
Saudi has money in the bank to ride this out. They do not intend to give up their top dog spot in the oil world.
Saudi started this back in October with their oil deals.
Saudi has money in the bank to ride this out. They do not intend to give up their top dog spot in the oil world.
They don't have much of a choice.
The difference between them and the US is about .5% of their production. We're gaining daily, they aren't.
They have been losing money for some time - they require oil to be well above the profitable price in the US for our oil, to meet their government's budgets. And while they have some money, it will not last. And when they are inevitably faced with cutting production to scare the price back up, the US will come back into production before they reach profitability as a state.
Saudi started this back in October with their oil deals.
Saudi has money in the bank to ride this out. They do not intend to give up their top dog spot in the oil world.
This is a gamble by Saudi Arabia, they do not have the money to ride this out for too long. Also a rather devastating impact on the other OPEC countries, Venezuela and Russia. This sudden drop in prices is good for the consumer but also has many negative effects as indicated above.
Americans think they have an entitlement to cheap and plentiful oil, this is not a good thing for long range planning. I recall all the rhetoric during the gas shortages of the 80's and 90's about how we were going to change our habits, that went by the wayside as soon as they were back on track.
This is a gamble by Saudi Arabia, they do not have the money to ride this out for too long. Also a rather devastating impact on the other OPEC countries, Venezuela and Russia. This sudden drop in prices is good for the consumer but also has many negative effects as indicated above.
That is why I disagree with the writer, like others I do not think the oil price war will go on for long. I am predicting U S companies weather the short storm, the price of gas is back up too 3 bucks are over by summer and energy stocks that have been taking a beating make big gains.
That is why I disagree with the writer, like others I do not think the oil price war will go on for long. I am predicting U S companies weather the short storm, the price of gas is back up too 3 bucks are over by summer and energy stocks that have been taking a beating make big gains.
Many of these oil producing countries that are partners in OPEC have no economy besides oil, this has to be devastating in places like Venezuela. I predict it will be back to normal shortly.
The article the OP called propaganda is really a fair analysis of what is happening.
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