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In reply to the discussion: Putin looking pretty puny at 9 dollars a barrel. Obama gets last laugh. [View all]Boreal
(725 posts)The price was high because the producers could keep it high. Same for gas prices - because they could. Now there's a political reason for the tanking of oil prices. I believe that most fracking is for natural gas but I'm not certain about that.
One thing you can bet on is that the economic warfare against Russia is taken personally by the Russian people. Rightly so. It's so tragic because after the long years of the Soviet Union and the cold war, feelings were really positive toward America. No more. Russia bent over backwards, after the fall of the USSR, to play ball with the "world order", i.e., the Anglo-American controlled financial and trade system. They also scaled back tremendously in the military arena as a good faith measure. For that they got surrounded by NATO and saw Ukraine overthrown and the west backing actual fascists and Nazis! It cannot be understated how important that last part is to Russians who fought the Nazis on their own soil at a terrible price in Russian lives. All of the gestures of friendship and goodwill have been met with a giant knife in the back and brought back all of the worst memories of WWII.
Such insanity. I've cried about it many times One thing that really shocks me are the Europeans who are chomping at the bit for war. You'd think being the battleground for the first two would have taught them. Guess not.
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