There are few Americans who vividly remember the long lines at the gas stations in the midst of the early 70’s oil embargo. It was a radical time for a society that depends so much on energy for transportation. That’s why the radical change in the global energy scenario in recent years engenders a feeling of poetic justice.
The strangle hold the OPEC oil cartel has had on the world up to only a few years ago continues to be beat back by the rise of oil fracking in the United States – even in the face of recent months and the Saudi’s attempts to undermine that new dominance again in mid 2017. This couldn’t have happened to a nicer bunch of cut-throat gangsters. The coming energy/currency wars in the Middle East are an inevitable result of that greedy manipulation.
Read more… US oil drillers likely to undermine Russia-OPEC plan to boost crude prices