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Why Russia just torpedoed global oil prices

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I don't know if the explanation offered in this article is the correct one, but the fact is that crude oil prices are at a 23-year low, and it is because Russia is flooding the market.

If it were me (JJM) speculating on Russia's motives, I would guess that it is part of an orchestrated attack on the dollar as world reserve currency.  Since 1972, the dollar's value on the international exchange has been backed by oil markets that trade only in dollars, by an informal agreement between the Saudi government and the US government, and by US military exploits that are attacking any country that seeks to sell its oil for Euros or Yuan. 


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Josh Mitteldorf, a senior editor at OpEdNews, blogs on aging at http://JoshMitteldorf.ScienceBlog.com. Read how to stay young at http://AgingAdvice.org.
Educated to be an astrophysicist, he has branched out from there to mathematical (more...)
 

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