Watch OPEC crash and burn to the ground all while pumping record amounts because they struggle to remain relevant. The Saudi Royal Family is becoming more and more irrelevant every day, and the world is waking up to their atrocities they have been able to commit because they were the major supplier of oil to the world.timel wrote:Strobes wrote: Good luck getting off oil. Oil has entered a downturn because of supply glut and will stay low for a long time. So the world will burn it.
Because of that, living conditions in the ME will go lower, and extremism will actually rise - "angry poor people looking for someone to blame". Kinda like Oct 19.
I find it hard to believe the OPEC will crash itself to the ground, theoretically if the oil barrel stays at 50$, it is the end of Saudi Arabia in less than 5 years.
http://money.cnn.com/2015/10/25/investi ... ddle-east/
After all this years, I don't understand why those countries still have an oil dependent economy and yes the actual prices are hurting Iran and Russia as well.
The massive omnibus bill that passed in the US congress this past week allows exports of US crude. Will only be 0.5MMbbl/day at first, but it's a start.
Maybe soon we will be able to ditch the Arabs as allies in the area and treat them as they should: Corrupt entities that fund most of terrorism in the ME and NA.