by Scott Rohter, lessgovisthebestgov.com
They say that whatever goes up must come down… so down and down it goes, the price of oil and gas and where it stops nobody knows. Actually that’s not true. ISIS knows. The Islamic State knows when the downward spiral of declining gasoline prices is going to come to an end because they are the ones who are causing it. They know when the price of gas is going to stop dropping like a lead balloon because its their balloon. They are almost single handedly responsible for causing the current worldwide instability in the oil and gas markets. The price of gasoline has now just dipped below $2.40 a gallon in Oregon for the first time in over five years.
You see ISIS has acquired some major producing oil fields in northern Iraq around the city of Mosul and they are selling their new found black gold rather cheaply on the black market to fund their take back of Iraq and the take-down of its Shiite led, American backed government. We are all reaping the benefits at the gas pump of ISIS selling their oil cheaply on the black market.
Saudi Arabia is matching the price that ISIS is charging because they don’t want the ISIS led revolution in the Middle East to succeed. If it does it would almost certainly mean the end of their western backed regime in Saudi Arabia as well, and whatever Saudi Arabia does the rest of OPEC does too. So that explains the rapid decline in the price of gasoline, not the fracking revolution in the oil business. It may even explain why we are in such a big hurry to bomb ISIS back to the Stone Age i.e. to restore the price of oil and gasoline to their previously high levels.
I used the term take back instead of takeover to more accurately describe what ISIS is really doing in Iraq and Syria because these Muslims whom we in the West have labeled as terrorists are actually members of the same Sunni tribes that America paid several years ago to help us defeat elements of Al Qaeda in the Iraqi city of Fallujah…
But when victory was achieved and American money stopped flowing to the tribes and when their Shiite led government refused to share power with them or provide them with jobs to feed their families these same unemployed and unhappy Sunni tribesmen became the breeding grounds for the current Sunni Muslim revolution in the Middle East. These disenfranchised and discontented Sunnis of Iraq want to take their country back and how can you really blame them? They are the same Sunni Muslims who formed the core group of Saddam Hussein’s old Bath Party. ISIS could literally be called “Saddam’s Revenge” and that would be a much more appropriate designation than just calling them Muslim terrorists.
Right now the price of a barrel of crude oil is way below the actual price at which fracking for shale oil is even profitable so it is certainly not the fracking industry that is responsible for the current low price levels of oil and gas. Furthermore the price of oil keeps dropping lower every day on world markets. The price of a barrel of crude oil is so low right now that it doesn’t even make sense to own oil stocks. The bottom has truly fallen out of the oil market which might explain the current instability in the Stock Market as well. It’s up one day and down the next. The Russian Ruble isn’t the only thing that is fluctuating and suffering from declining oil prices.
It is conceivable that Saudi Arabia might want to drop the price of crude oil just to discourage American oil companies from facking for more oil. They have manipulated oil prices in the past to keep America from achieving energy independence, but they didn’t actually do it this time. If they did it then the current drop in oil prices would have begun a long time ago before the fracking revolution really took off, but it did take off. That’s the point. That’s why this explanation for the current decline in oil prices doesn’t make any sense. The timing is all wrong… But if you look back you will discover that the current downward trend in oil prices actually began right around the same time that ISIS took over the oil fields in northern Iraq.