Just want to elaborate on your point a little bit so people understand better. Due to the increased oil and nat gas production from the United States opec has conspired to flood the market with more oil . Opec can produce oil far cheaper than the United States so they are effectively driving the price down to a point where fracking becomes cost prohibitive so they can try to drive the competition out. Nothing to do with conflicts overseas though. It is however really hurting Russia and Venezuela's economies which I love.
I have a question for americans?
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Just want to elaborate on your point a little bit so people understand better. Due to the increased oil and nat gas production from the United States opec has conspired to flood the market with more oil . Opec can produce oil far cheaper than the United States so they are effectively driving the price down to a point where fracking becomes cost prohibitive so they can try to drive the competition out. Nothing to do with conflicts overseas though. It is however really hurting Russia and Venezuela's economies which I love.
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8 years ago
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Oh i guess this answered my question for seekelp haha.