Oil, Global power and the US.

[My Wife Hates CIV]

Who would have guess these oil prices even just 1 year ago?

Is the US producing this much oil/gas now?

Is the economic slowdown in Asia/China and even Europe that great?

Is the dollar still king at this stage of the game?

Or is the US really capable of f*ing with Russia on this level?

Makes you wonder whats next even just months down the road.

I do like the gas prices. Hopefully will go even lower - but is that good for the US?

How did Putin miss this. I bet he's asking that right now. And a little pissed he did.

[N35t0r]

I don't think that us production has much to do with the current low prices, since most (all?) non-traditional wells are too expensive at this price.

[N35t0r]

This is mostly the Saudis giving up some per-barrel income to make most new competitors uncompetitive.

[My Wife Hates CIV]

but why now... or OPEC is just riding this wave for the purpose you said above.

[Lorizael]

I think gas prices are so low because Obama is such a great president. GOBAMA!

[Kidlicious]

This will boost the economy because people will have more money in their pocket, but it will only be a small boost because consumers won't be sure prices will stay low.

[My Wife Hates CIV]

until we have to bail them out. somehow it will be the right thing to do.

[Jon Miller]

I think gas prices are so low because Obama is such a great president. GOBAMA!

It is to force Putin out.

JM

[Uncle Sparky]

It is to force Putin out.

JM

Partly. And partly to screw Iran.

[ricketyclik]

Oil party

[dannubis]

par-tay

[N35t0r]

Partly. And partly to screw Iran.

i'm sure that ****ing over all the investers on fracking and tar sands, maybe with the hope of stalling future expansion in that area.

[dannubis]

I wonder why the USians always seem to think that the average Saudi has an ounce of love for the US.
60 USD / barrel is not to **** with Russia (which has remained a stable market player for years) but is to stall the development of the North American capacity expansion (which is unbalancing the market right now).

This being said, I applaud one aspect of the unintended side consequence of the Saudi power play: Putin will need to suck hairy arab dick.

[molly bloom]

Putin will need to suck hairy arab dick.

Some Arabs are (surprisingly ?) unhirsute.

To the best of my knowledge.... ahem.

[Kidlicious]

Some Brits have testicles.