The Phaserl


Who Is Behind The Oil War, And How Low Will The Price Of Crude Go In 2015?

by Michael Snyder, The Economic Collapse Blog:

Who is to blame for the staggering collapse of the price of oil?  Is it the Saudis?  Is it the United States?  Are Saudi Arabia and the U.S. government working together to hurt Russia?  And if this oil war continues, how far will the price of oil end up falling in 2015?  As you will see below, some analysts believe that it could ultimately go below 20 dollars a barrel.  If we see anything even close to that, the U.S. economy could lose millions of good paying jobs, billions of dollars of energy bonds could default and we could see trillions of dollars of derivatives related to the energy industry implode.  The global financial system is already extremely vulnerable, and purposely causing the price of oil to crash is one of the most deflationary things that you could possibly do.  Whoever is behind this oil war is playing with fire, and by the end of this coming year the entire planet could be dealing with the consequences.

Ever since the price of oil started falling, people have been pointing fingers at the Saudis.  And without a doubt, the Saudis have manipulated the price of oil before in order to achieve geopolitical goals.  The following is an excerpt from a recent article by Andrew Topf

We don’t have to look too far back in history to see Saudi Arabia, the world’s largest oil exporter and producer, using the oil price to achieve its foreign policy objectives. In 1973, Egyptian President Anwar Sadat convinced Saudi King Faisal to cut production and raise prices, then to go as far as embargoing oil exports, all with the goal of punishing the United States for supporting Israel against the Arab states. It worked. The “oil price shock” quadrupled prices.

It happened again in 1986, when Saudi Arabia-led OPEC allowed prices to drop precipitously, and then in 1990, when the Saudis sent prices plummeting as a way of taking out Russia, which was seen as a threat to their oil supremacy. In 1998, they succeeded. When the oil price was halved from $25 to $12, Russia defaulted on its debt.

The Saudis and other OPEC members have, of course, used the oil price for the obverse effect, that is, suppressing production to keep prices artificially high and member states swimming in “petrodollars”. In 2008, oil peaked at $147 a barrel.

Turning to the current price drop, the Saudis and OPEC have a vested interest in taking out higher-cost competitors, such as US shale oil producers, who will certainly be hurt by the lower price. Even before the price drop, the Saudis were selling their oil to China at a discount. OPEC’s refusal on Nov. 27 to cut production seemed like the baldest evidence yet that the oil price drop was really an oil price war between Saudi Arabia and the US.

If the Saudis wanted to stabilize the price of oil, they could do that immediately by announcing a production cutback.

The fact that they have chosen not to do this says volumes.

In addition to wanting to harm U.S. shale producers, some believe that the Saudis are determined to crush Iran.  This next excerpt comes from a recent Daily Mail article

Above all, Saudi Arabia and its Gulf allies see Iran — a bitter religious and political opponent — as their main regional adversary.

They know that Iran, dominated by the Shia Muslim sect, supports a resentful underclass of more than a million under-privileged and angry Shia people living in the gulf peninsula — a potential uprising waiting to happen against the Saudi regime.

The Saudis, who are overwhelmingly Sunni Muslims, also loathe the way Iran supports President Assad’s regime in Syria — with which the Iranians have a religious affiliation. They also know that Iran, its economy plagued by corruption and crippled by Western sanctions, desperately needs the oil price to rise. And they have no intention of helping out.

The fact is that the Saudis remain in a strong position because oil is cheap to produce there, and the country has such vast reserves. It can withstand a year — or three — of low oil prices.

There are others out there that are fully convinced that the Saudis and the U.S. are actually colluding to drive down the price of oil, and that their real goal is to destroy Russia.

In fact, Venezuela’s President Nicolas Maduro openly promoted this theory during a recent speech on Venezuelan national television

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14 comments to Who Is Behind The Oil War, And How Low Will The Price Of Crude Go In 2015?

  • Gnostic

    Who is in control? Snyder asks, how about ZOG, Michael.

  • Willie

    Go to Skull Island to find the answers. You may even find the remains of the Air Asia & MH370 flights there.

  • glitter 1

    I think the whole oil price plunge story is just another cover for the real Globalist that make the rules and pull the strings.I recently read a piece on the IMF and why their planned “Global Currency Reset” didn’t take place as planned back in early 2014.According to Lagarde,it was all agreed and ready to implement,but the US refused to go along.So, something tells me that this whole oil price plunge is a smoke screen of sorts to bring about an economic chaos,which will be triggered by the plunge in oil prices and subsequent destruction of the shale oil apparatus,i.e. bonds,derivatives,stocks,etc. and it will come sometime during 2015.It will almost assuredly bring down the stock markets as well.So, I think the IMF/Global ruling faction will get their reset one way or another and the blame will be placed on Russia,Saudi Arabia and others as the cover story.Maybe even a reason to start a larger/wider war in the MiddleEast.The US Shale Oil Boom will become history in the process.Thei is not going to end well.Things are never as they seem,it is always planned that way.

    • The Truth

      @ Glitter 1 you are on the right track. IMHO, it was and is always the Bush family along with their middle eastern and zionist friends. Their interest has always been oil. CNBS just posted an article on Iraq coming back from the brink. We will see the reset now that oil is down. The time has now arrived for these people to do what Revelations 6:5-14 states. All you got to do is add the number of the scriptures and you will see it. e.g rev 6:5=11..6:6=12. It was a count down in the years. We are now at 6:8=14.(We have the sign of the pale horse in Denver and not by coincidence, and also the drought in California and other food producing places). Just read it even if you do not believe scriptures!

      The stock market will crash before the currency because people will sell and cause the currency to rise. This is what they want because then when they pull the plug, everyone holding the currency and having no hard assets will get slaughtered. It is the same as Tulip mania. A meausre of wheat for a penny means that that measure of wheat is the same price as 10 donkeys. That is expensive and called inflation. We are headed for inflation once the dollar dies. Think about it we have negative interest rates and gold is down, what normally is suppose to happen under these circumstances? It will be ugly but not for all.

  • John

    Gas was the only energy item to go down. Diesel is still high & Kerosine is still $4.30 a gallon.

    While gas is down, so are temperatures, which has caused everyone to turn on their heating.

    So what they give with one hand, they take back with the other hand.

  • John

    “Who is in control? Snyder asks, how about ZOG, Michael.”

    Exactly. Most of the alternative web sites refuse to name names of who is running this Bizarro World we all live in now. Most are trying to blame the Muslim/Arab World.

    The Zionists/Neocons & their Too Big Too Jail are running the Show.

  • Rainmaker

    “Who Is Behind The Oil War, And How Low Will The Price Of Crude Go In 2015?” Perhaps the question should be “Why was the price of oil so high in the first place?” Whilst the price can be manipulated, there has been evidence that there has been a glut for quite some time now and that tankers been floating back and forth with full loads. What I thought was awesome was when Oil tanked in early 2009 and Goldman Sachs used all their bailout money to go long on Oil at the bottom and made BILLIONS.

    Check out the chart.

    Why do they steal from and treat us like cattle? Because they can!!!!!

  • Troy

    As is silver is manipulated, so is oil….so keep manipulating them…DOWN! Gas to $1.80 this spring…thats good for me because I drive large v-8 vehicles

  • BRF

    The Saudis/western oil giants cannot permanently harm either Russia or Iran, only in the temporary and only as they are harming themselves. The attempt to hurt Russian energy export revenues by lowering the price of oil and crashing the ruble will fail as Russian spends some of it’s foreign reserves instead of devalued rubles to buy needed imports.

  • Ed_B

    The entire oil price collapse could easily be a Western elite plot to bust the BRICS. They are the ones seeking to skirt the US$ as a trade settlement currency, they are the ones who are setting up their own SWIFT system, and they are the ones who are amassing thousands of tons of gold for who knows what purpose… but whatever it is, it is unlikely to be friendly to the West or the elites. My guess is that China will want their yuan to become the world’s reserve currency and they will back their sovereign bonds with gold. Maybe they will partially back their currency with gold as well. They sure as hell are not buying all this gold because it is pretty.

    • Rainmaker

      Ed_B. Could as easily be a plot to break the West, as in the US. Not many folks working in the Bakken right now. Question is, is it a western plot or eastern plot? The correct answer is probably neither, because the elites are supra-national, meaning that they have no allegiances other than to power and greed.

      Are the Chinese really buying gold, or is it just being sent to them? Why not ask where is all the Gold in Fort Knox?

      Lemme ask again. Why we all bitching about lower oil prices when we should be asking why the hell did the price go so high in the first place? That’s where the theft occurred.

      This is just a club, and you and I, we ain’t in it.

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