Someone who actually drives asked me this question recently and I blurted, “It’s probably a devil’s bargain to punish Czar Putin.”
I found this podcast while researching my own flippant remark. Of course when it comes to the economy I’m about as useful as 400 grain sandpaper on the set of a porno film so I will decline any comment.
Below is a source suggested by Travolta, who I think I should put in charge of investing all 9 of my dollars.
Read website zerohedge for best information.
The old gods red of tooth and nail are stirring. You
will soon have your return of hard silent men. What is
old becomes new again. Pax
Dude, love the name—keep it—and thanks for the brutal little verse.
Nothing to do with our economy anyway, its OPEC's attempt at discouraging competition. Won't hold out long term as that strategy would hurt OPEC's bottom line if oil spirals down any further. Even if they were successful in their strategy and raised their production margin by significant percentage..
So my readers are not a bunch of knuckleheads!
Joe's Axiom: "No one thing is caused by one thing, though there can be a dominate factor."
For those who are interested in this topic, here's a good summation of what has happened in the crude oil market:
financialsense.com/financial-sense-newshour/big-picture/new-world-oil-order-part-two
Should crude oil prices go too low, it will spark a financial crisis in the "emerging markets," given their dependance on oil revenue.
Thanks Travolta—I'll copy the link into the article.