Posted by John in La on November 22, 2014 at 06:03:59 from (96.33.136.54):
In Reply to: Re: diesel price WOW posted by sourgum on November 21, 2014 at 21:00:41:
You got some of it right but you still missed the big picture. Wish I had time to explain it to you in detail.
A few points for you to think about.
This is much bigger than a few mid-western states losing production jobs or some farmer buying his 10,000 gallons of diesel.
Shale may have started it but is not the reason for low prices.
The price of oil can be used in the political shell game between countries.
OPEC that runs it countries strictly on selling oil are losing market share.
Saudi Arabia is in a price war with the U.S. and Iran to keep that market share or they are in some hush hush deal to win political favors.
With $75 oil whole countries will suffer causing a WORLD economy crises.
Islamic State in Iraq and Syria (ISIS) plays into it because they need high oil prices.
It is very narrow minded to think the U.S. can produce oil from shale creating jobs in N America; enjoy low gas/diesel prices from this shale oil; and not upset the world market.
So enjoy the low oil prices while they last cause the same people that are involved in this oil price war are the same people we export your corn and wheat to.
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