Tuesday, November 04, 2014

Oil prices and the future of the middle-east

Part of the cost of US fracking and rise of renewables is the growing irrelevance of the oil producing countries of the middle-east and the appalling scale of violence that may follow in these places.

This would happen anyway as production peaked in Saudi Arabia and the other OPEC states in the region, but the appearance of alternative energy sources means that the rest of the world will carry on instead of run out of energy.

The past decade of violence and the recent rise of ISIS might pale in comparison to what happens should unrest spread to places like Saudi Arabia as oil revenues fall and people retreat into the false security of religion and ideology. This could just be early days.


Steve said...

Who knows what is really going on, but the Saudis have started a fire sale on oil. Is this aimed at Russia, Fracking, the oil sands or did they short oil.

Steve said...

The Fraser Institute has a new study advising that the Canadian soldiers should pay their own transportation costs to Kuwait, or a least be forced to use all their airmiles. This in response to the news the Jihadist are paying for Crusises to Turking to join ISIS. I was Thinking Aboot just what life on those cruise must be like.