Russia also wants the price of oil to go up.
Their moves in the M.E. may ultimately help them immensely if it really gets destabilized.
I agree, but it will also help Iran, but only in the short-term. Higher prices will be transient because the supply of oil is so vast that the net result from increased production and lower production costs will be a disaster for the Saudis, Gulf States, Iran, and every other country whose economy is centered on petroleum exports. That means that it will also boomerang on the Russians unless they develop a more diversified economy. Medium and longer term, we benefit, along with the Canadians, Norwegians, Brits, and other oil producing countries with diversified economies.
I agree, but it will also help Iran, but only in the short-term. Higher prices will be transient because the supply of oil is so vast that the net result from increased production and lower production costs will be a disaster for the Saudis, Gulf States, Iran, and every other country whose economy is centered on petroleum exports. That means that it will also boomerang on the Russians unless they develop a more diversified economy. Medium and longer term, we benefit, along with the Canadians, Norwegians, Brits, and other oil producing countries with diversified economies.