Oil prices plummet worldwide as OPEC infighting intensifies

washingtontimes.com/ ^ | December 10, 2014 | David R. Sands

[MrB]

The left DESPISES affordable energy,
for the very fact that people, avg people, not the elite,

use more energy when it’s affordable.

[gleeaikin]

Perhaps because we are still eating food produced with last growing seasons oil prices—tractors, transportation, etc. If oil prices stay down and food prices don’t go down after they are grown and moved with lower oil prices, then we should get very angry. I could be mistaken, but I think that the price of imported European cheese is already down a bit. Cheaper transport?

[bdog2995]

Good point. We are going to have to wait and see. Fresh fruit/veggies and meat don’t have much shelf life. Hopefully we should see those items come down on price sooner.

[gleeaikin]

Another way to win this pricing game is to continue developing our wind and solar infrastructure. T. Boone Pickens, famed oil man, has invested in a lot of west Texas strong wind country, and I understand pushed the state legislature to develop grid capacity to hook developed wind power to it.
Meanwhile, remember that Saudi Arabia and Qatar are very hostile to Iran and Syria which are friendly to competitor Russia. These lower prices are hurting both Iran and Russia which makes SA very happy.