Forum Thread

OIL; how will the drop in price affect the world politics

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  • Independent
    Ft.myers, FL
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    Oil has been an important political tool since the industrial revolution. Due to the fact that a barrel of oil is priced now just about half of what it was in June 2014, it will have huge implications in this world. I wonder about our escapades and wars to get oil, if that is now backfiring. Also will it affect companies like Tesla?
    What about disputed tar sands pipelines? Consequences for the middle east? Infrastructure; will we have more clogged roads instead of mass transportation?
    A lot of the oil industry is highly leveraged; some may not make it; loss of jobs etc. Are our politicians rethinking Iraq, Afghanistan? because of their backpocket kickbacks from the oil industry etc.? On CNBC they claim this drop is mostly due to "fracking" and likely will stay that low since OPEC has not its act together.
    It certainly will affect world politics; poor countries with oil may stay poor!!
  • Liberal
    Other Party
    Llos Angeles, CA
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    I think it's temporary.....better fill your tanks up while you can. We're going back to 4.00 a gallon real soon.