Mission Statement: This blog reviews the news of the day in light of 242 years of American history. "Nationalism," a modern day pejorative, has been our country's politic throughout history, until 2008. Obama changed that narrative. Trump is seeking a return to our historical roots. Midknight Review supports this return to normality.
Pages
▼
The good, bad, and ugly about oil prices and the Russian "dollar."
We all love “cheap
oil,” but there is a political value to
its price, that is not all that
good. The Saudi’s have decided to rid
the world of fracking, here in America,
and, cheap Russian oil, as it lowers prices to below $60 a barrel
($56 per barrel this morning). Fracking, to be worthwhile, must compete against $80 per barrel oil (and
higher). And Russia’s only economic hope for
national fiscal stability is found in its oil exports. Yesterday,
we found that the Saudi strategy is working. Russia’s Central Bank, has
announced a rise in primary interest rates from 10% to 17% with a view of
stopping the fall of the Russian ruble in the face of a stronger dollar.
This price
war will hurt the weaker, poorer nations (called “Emerging” nations). Whether there is harm or not, you can see,
from the following headlines,
that the effects of this reality is world wide. About 35% of all growth on The Street, has
been influenced by oil investments. There
is talk that the per-barrel price, in our country, can fall into the $40 range. No one is talking much about what this might
do to our economy, but, for the time-being, we all have money to spend, because of the falling prices . . . . . . . . . and they will be lower, for several years into the future.
Obama has stated that high gas prices work toward his goal to lessen the power fossil fuels hold in this country. If not for the Saudi's decision to burn Russia and drive back the threat of defracking, we would still be paying the Obama sanctioned higher oil prices.
It is funny to me that the Left loves Obama's utopian policies (rebellion before fundamental change, the abuse of the middle class with a few to causing violent rebellion, the creation and use of "crisis" in the expanse of a one world, take from the rich and give to those who don't work), but hate people who point to his complicity in all this. They love the fact that he wants the death of fossil fuels NOW, but, in some sort of mental-disorder display, equally hate those who admit to this fact. High fuel prices are part of his agenda. So, why argue the fact when it is obvious?
Mitt Romney blamed Obama for high gas prices:
ReplyDeleteArticle:
http://www.cbsnews.com/news/mitt-romney-obama-to-blame-for-high-gas-prices/
Obama has stated that high gas prices work toward his goal to lessen the power fossil fuels hold in this country. If not for the Saudi's decision to burn Russia and drive back the threat of defracking, we would still be paying the Obama sanctioned higher oil prices.
DeleteIt is funny to me that the Left loves Obama's utopian policies (rebellion before fundamental change, the abuse of the middle class with a few to causing violent rebellion, the creation and use of "crisis" in the expanse of a one world, take from the rich and give to those who don't work), but hate people who point to his complicity in all this. They love the fact that he wants the death of fossil fuels NOW, but, in some sort of mental-disorder display, equally hate those who admit to this fact. High fuel prices are part of his agenda. So, why argue the fact when it is obvious?
Delete