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In reply to the discussion: Putin looking pretty puny at 9 dollars a barrel. Obama gets last laugh. [View all]brush
(58,774 posts)Last edited Thu Jan 1, 2015, 01:44 AM - Edit history (1)
to keep pumping just as we ramped up production so the price of oil would fall?
The president hinted as much, and not so subtly, when he noted that Russia's economy is totally dependent on selling oil while ours is very diversified.
Some people thought Putin was a genius but it didn't take a rocket scientist to figure out how to put a chink in his armor. It was pretty apparent that to hurt him, along with the sanctions, all that had to be done was to create a situation where the price of oil dropped dramatically, a sanction in itself.
A price drop in oil like what has happened in the last few weeks has NEVER happened before. NEVER. That is no accident. Calls were made and behind-the-scenes-agreements were reached. Think about it, there have been huge jumps in oil prices but not huge drops. And voila, Russia's economy is tanking.
Putin wanted to play hard ball in Crimea and the Ukraine. Well, he got back some of his own medicine without a shot being fired and he's not liking it
It's called realpolitik.
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