We know why Obama is supporting the Saudis flooding the world with cheap oil. The Same trick Ronald Regen used, Russia (and Irans) greatest geopolitical weaknesses are over-reliance on oil. Its a trick learned from Ronald Reagan, why go to war when you can bankrupt you opponents (and in this case who they support Syria).
But wont this kill off the US Fracking Industry.
Why isnt he worried?
Its already dead, Solar has reached grid parity and according to every independent analysis is now far cheaper than gas in almost every state bar Alaska and will be in all statres by 2016.
So it a collosal wasted investment, better to kill it off before it grows too large and create major economic ructions.
Dont you think the Pentagon’s OAN hasnt already wargamed this many times? Whilst there was a lot of US think tank modelling of the impact of hi
At least history will count this move well – as for George Osborne – what a short sighted plonker. He looks like someone backing a national Whale Oil Strategy in 1900.
If you still have stocks in Oil – look at this graph of doom from Deutsche Bank
Of course as solar gets dramatically cheaper watch out for the bubble popping on banks who have heavily leant to fracking firms as they rapidly default.