Well, there are a couple of benefits to this big time poker game. We
get slightly lower fuel prices for a short period, and Vlad gets hung
out to dry off a bit.
The downside:
The goobers here have been talking for a year and a half about
raising fuel taxes. This will give them incentive and excuses to
raise the taxes.
Meanwhile the oil companies and distributors rake in record profits.
Yeah, I think that it's really messing Vlad up quite a bit. Tough
to pay for all his toys and deal with the embargoes in place from
the West and the EU when one of his major exports is tanking. Im
curious to see if he tries to cut off Eastern European natural gas
as winter closes in.
A good Planet Money the other day (I think it was Planet Money)
about OPEC and how the players are constantly cheating each other
over sneaking oil out when they have agreed to a particular level of
production. There were a number of descriptions of how various
countries "cheat" on OPEC production limits so they can generate
more $$$.
Dan
On Dec 1, 2014, at 1:07 PM, Curly McLain <126die...@gmail.com> wrote:
No suspicion. That was the announcement over the weekend after
the last opec meeting. They refused to cut production to try to
put the frackers out of business. They are deliberately lowering
oil prices to put competition out of business. It is a global
price war. Unfortunately, not much of it has shown up at the pump.
They are trying to strengthen their position long term by
eliminating competition.
> It is also putting the squeeze on Vlad and the Norge.
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