cartel no more?

[The Comrade]

[gla22]

I believe this is primarily the work of the U.S. colluding with the Saudis to hurt primarily Russia, and with the side benefits of hurting Venezuela and Iran.

Lower oil prices is good for the overall economy and bad for the environment.

[Kane]

[Spider]

Boom.

[Kane]

[exploited]

I don't think energy independence was ever really a goal for Western political elites, and the "shale revolution" is only valuable in that it put downward pressure on oil prices. So I don't think it is outside the realm of possibility that Saudi Arabia is colluding with Western nations - in fact, I'm pretty sure that type of arrangement is extremely common. Why else would we develop all of these global and interregional institutions? Why would Saudi Arabia cut their prices only enough to make shale less profitable, but not destroy it completely?



If they were truly acting in their self-interest, they would have cut the prices down to $55-60 a barrel, driving out nearly all shale oil producers, and taking the hit now by their own accord, rather than simply delaying the inevitable price decreases that will follow in coming years, for literally no benefit but Western consumers.

[Spider]

[exploited]

[eynon81]

[Spider]