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So, according to the author, the Saudis have manipulated oil prices at least five times in the past to achieve their foreign policy objectives. But, if that’s the case, then why does the media ridicule people who think the Saudis might be engaged in a similar strategy today?
The US is now apparently caught in a trap. The only way they can get out it seems to crash the oil price in the hope of sending Russia broke so it will have to start selling gold, (which means it will have to stop buying more importantly)
Paul Craig Roberts has got a very good article that explains how the fed has kept the gold price suppressed for so long.
originally posted by: anxietydisorder
Have no doubt, this is a siege beyond anything like castle warfare.
This is a coordinate attack against Russia because when they pulled up their boot straps it started to harm other nations. There was a fear that Putin was trying to re-establish something like the Soviet Union by force. The only other option, other than a war nobody wants, is to destroy their economy and make Putin lose face on the world stage and in front of his people.
Sucks to be Russia right now, and others will be harmed by these actions, but I still think it's the lesser of two evils.
For half a century, the global energy supply's center of gravity has been the Middle East. This fact has had self-evidently enormous implications for the world we live in -- and it's about to change.
By the 2020s, the capital of energy will likely have shifted back to the Western Hemisphere, where it was prior to the ascendancy of Middle Eastern megasuppliers such as Saudi Arabia and Kuwait in the 1960s. The reasons for this shift are partly technological and partly political. Geologists have long known that the Americas are home to plentiful hydrocarbons trapped in hard-to-reach offshore
Just as T. Boone Pickens warned "watch the rig counts" last week, so the Baker Hughes rig countjust collapsed for the 3rd week in a row to 8-month lows. This is the fastest 3-week drop since mid-2009. Crude prices were already weak but the news has flushed WTI to a $52 handle (not seen in the front-month contract since May 2009)
As for us the price at the pump is cheaper. Making goods across the board cheaper.
originally posted by: neo96
I honestly don't get why people are crying about lower oil prices.
But low oil/ gas prices is only going to be short lived. It will go back up even higher.
It's hardly a conspiracy.
A gambit is a strategic move, often in chess but also in politics or business, where a player sacrifices something up front for future gain.