Ken Berwitz
….let\’s remember that a large part of the reason these prices are so low is that Middle East countries – at least a couple of which act as our “friends” but in reality hate our culture and our freedoms – have worked hard to manipulate the oil market downward.
Why? To decimate our domestic oil industry by putting as many of our oil companies out of business as possible – after which they will happily manipulate prices upward again and, energy-wise, have us completely under their thumbs again.
How bad is it? Read Collin Eaton\’s article at fuelfix.com and see for yourself.
Here\’s just a tiny taste:
The U.S. petroleum industry hasn\’t seen this manybankruptcies in one quarter since the Great Recession, the Federal Reserve Bankof Dallas says, counting nine Chapter 11 court filings in the year\’s finalthree-month period. And that\’s just a third of the year\’s domestic casualtycount.
The Dallas Fed alsoestimates in a new report on Thursday the nation has lost about 70,000 oil andgas jobs since October 2014, a 14.5 percent drop in the 14 months after thedomestic shale drilling boom that drew thousands to Houston\’s oil hub began asteep decline.
So enjoy those low prices. But remember that they come with a different kind of price – one that is affecting thousands and thousands of workers right now and, if this strategy works, will affect all of us in the very near future.
