Monday, October 20, 2014

Is The U.S. And Saudi Arabia Manipulating Oil Production (And Prices) To Bring Russia And Iran To The Brink Of Economic Collapse?

Is The Oil Crash A Secret US War On Russia? -- Anthony Zurcher, BBC

Lower oil prices, reflected in falling petrol prices at the pump, have been a boon for Western consumers. Are they also a potent US weapon against Russia and Iran?

That's the conclusion drawn by New York Times columnist Thomas L Friedman, who says the US and Saudi Arabia, whether by accident or design, could be pumping Russia and Iran to brink of economic collapse.

Despite turmoil in many of the world's oil-producing countries - Libya, Iraq, Nigeria and Syria - prices are hitting lows not seen in years, Friedman writes.

Analysts identify a number of possible reasons for the steep drop - increased US production, slowing economies in Europe and China and steady production from the Organisation of Petroleum Exporting Countries (Opec).

Read more ....

My Comment
: Zero Hedge posted on this a few weeks ago .... Why Oil Is Plunging: The Other Part Of The "Secret Deal" Between The US And Saudi Arabia. As to what is my take .... countries that are dependent on oil production are hurting .... and it will only be a question of time before this "discomfort" results in serious unrest.

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