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Wednesday, February 11, 2015

Saudi Arabia

CNN: Saudi Arabia 'engineered' oil crisis: Dallas Fed chief

4 comments:

Glynn Kalara said...

Oil crisis? Its a crisis for the greedy ass American Oil Barons who have feasted for yrs. on high Oil and gas prices and now are having to cut back like everyone else. Breaks my fucking heart.

Jim Sande said...

The crisis is in the financial investment world. Oil equities represent a huge part of most funds of all types including retirement and pension funds. Also the people that mostly get hit with that are a lot of lower level guys and middle class people. My bank teller is worried about the price of oil because she and her husband are invested in oil. I have plenty of stories just from people I know about how crunched they are from the sudden drop in oil prices. The people who are at the top are probably giving themselves raises because they have to word under such stress!!

Gary Panos said...

What I don't like about cheap oil is that it takes away the incentive to develop alternative fuels.

Jim Sande said...

I would have to agree Gary, we actually want ridiculously high prices on gas to force the issue. Make cars that go 50 to 100 miles on a gallon.