Posted on 12/12/2014 8:38:48 AM PST by Signalman
A global glut of oil will persist next year, putting further pressure on prices and raising the risk of unrest in some producing countries. That's the stark warning from the Paris-based International Energy Agency, which on Friday cut its forecast for global demand growth in 2015. It now sees demand growing by less than 1% next year.
Oil prices have already fallen by more than 40% in six months, but there's little sign of that stimulating demand yet, or constraining production enough to remove excess supply. "Oil price drops are sometimes described as a 'tax cut' and a boon for the economy, but this time round their stimulus effect may be modest," said the agency, which monitors energy market trends for 29 of the world's wealthiest nations. U.S. crude prices fell again on Friday to around $59 a barrel.
(Excerpt) Read more at money.cnn.com ...
I thought it was the opposite.
Take the view point from Venezuela, Iran...
A dark lining in every silver cloud.
At first blush “unrest” = “arab street” i.e.
Oh.
From my point of view, cheap gas works for me!
Despite the best efforts of the regime, a nice break for oil consumers.
Surely the MSM can find plenty of ways this is bad for us...
So, it was okay to financially rape the western world and basically transfer generations of wealth from us to the sand countries, but now we should be concerned about some “unrest” in these countries?
Pffft....
Actually, there is nothing more than I want to see than a horde of Muslim oil producing countries have to drink their own oil and eat sand for sustenance. Take away their wealth and they are nothing more than 4th century zealots.
Gotta keep prices high to support our dear, dear friends - the Saudis.
“Plunging oil prices may trigger unrest”
Might get a little hairy at the car lots this weekend as people scramble to buy those gas-guzzlers.
I’ve got my eye on a Tundra...13 MPG city.
That’s a good move. OPEC thanks you.
Reduce revenue to the Arab countries, Venezuela, and other countries that hate us and use their money to destroy freedom? I’m okay with that.
Oil is essentially the ONLY export available to the Arabian gulf states. By it they enjoy first world material wealth while exhibiting third world proclivities. Furthermore they must import all food and building supplies. When the money dries up - and it will unless they find alternative means of income - unrest will be just the beginning of things.
I thought “global warming” caused wars and unrest.
"some producing countries"
Okay. Assuming "some producing countries" is a euphemism for what I think it is a euphemism for, all I want to know is: what can I do to help ASSURE there will be unrest in these "some producing countries"?
I’ve already heard stories of democrats wanting to raise gas taxes as a result of lower fuel prices.
Unrest!!!! To who!!!!
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