When will the Price of Gasoline Stop Going Down?
Why Don’t You Ask the Islamic State of Iraq and Syria?
by Scott Rohter, December 2014
They say that whatever goes up must come down… so down and down it goes the price of oil and gas and where it stops nobody knows. Actually that’s not true. ISIS knows. The Islamic State knows when the current downward spiral of gasoline prices is actually going to come to an end because they are the ones who are actually causing it. They know when the price of gas is going to stop dropping like a lead balloon because it’s their balloon. They are almost single handedly responsible for causing the current worldwide instability in the oil and gas markets. The price of gasoline has now just dipped below $2.40 a gallon here for the first time in over five years. In some places it is even approaching $ 2.00 a gallon. We are all reaping the benefits of lower gas prices at the pump.
You see ISIS has acquired some major producing oil fields in northern Iraq around the city of Mosul and they are selling their new found black gold rather cheaply on the Black Market to fund their take back of Iraq and the take-down of its Shiite led, American backed government. Right now all motorists are reaping the benefits at the gas pump because ISIS is selling their war booty very cheaply on the Black Market.
ISIS is obviously not a member of OPEC and Saudi Arabia which is the most influential member of OPEC is matching the price that ISIS charges for oil on the Black Market because they don’t want the ISIS led revolution in the Middle East to succeed. The Saudis don’t want the ISIS revolution in the Middle East to succeed because if it does then it would almost certainly mean the end of their western backed regime in Saudi Arabia. Whatever Saudi Arabia does the rest of OPEC does too and so that explains the rapid decline in the price of gasoline, not the fracking revolution in the oil business. It may even explain why we are in such a big hurry to bomb ISIS back to the Stone Age i.e. to restore the price of oil and gasoline to their previously high levels.
I used the term take back instead of takeover to more accurately describe what ISIS is really doing in Iraq and Syria because these Muslims whom we in the West have labeled as terrorists are actually members of the same Sunni tribes that America paid several years ago to help us defeat elements of Al Qaeda in the Iraqi city of Fallujah…
But when victory was achieved and the American money stopped flowing to the tribes and when their Shiite led government refused to share power with them or provide them with jobs to feed their families these same unemployed and unhappy Sunni tribesmen became the breeding grounds for the current Sunni Muslim revolution in the Middle East. These disenfranchised and discontented Sunnis of Iraq want to take their country back and how can you really blame them? After all they were in power for over fifty years under Saddam Hussein before we invaded their country and turned everything on its head. They are the same Sunni Muslims who formed the core group of Saddam Hussein’s old Bath Party so ISIS could literally be called “Saddam’s Revenge”. That would be a much more appropriate designation than just calling them Muslim terrorists.
Right now the price of a barrel of crude oil is way below the actual price at which fracking for shale oil is even profitable so it is certainly not the fracking industry that is responsible for the current low price levels of oil and gas. Furthermore the price of energy keeps dropping lower every day on the world market. The price of a barrel of crude oil is so low right now that it doesn’t even pay to own oil stocks. The bottom has truly fallen out of the oil market which might help to explain the current instability in the Stock Market as well. It’s up one day and down the next. It is very volatile. The Russian Ruble isn’t the only thing that is suffering from the decline in oil prices.
It is conceivable that Saudi Arabia might have wanted to drop the price of crude oil to discourage American oil companies from fracking for more oil. They have manipulated oil prices before to keep America from achieving energy independence, but they didn’t actually do it this time. If they did then the current drop in oil prices would have begun a long time ago before the fracking revolution even took off, but it did take off. That’s the point. That’s why this explanation for the current decline in oil prices doesn’t make any sense. The timing is all wrong… But if you look back you will discover that the current downward trend in oil prices actually began right around the same time that ISIS took over the oil fields of northern Iraq.
As for an explanation as to why the mainstream media isn’t reporting this… the United States government is currently bombing ISIS in Iraq and Syria. The Obama Administration would like the American public to support their mission which is to bomb ISIS out of existence. If the American people actually knew that ISIS is responsible for their good fortune at the gas pump they might not be so inclined to support “the mission”.
No oil company executive in their right mind, or oil company board of directors would voluntarily agree to cut their prices so low that it would hurt their shareholders and investors. That would mean the end of their careers. The current instability in oil prices could never be the result of the “old boys” getting together and agreeing to roll back oil prices just so we can hurt Vladimir Putin and the Russian economy. That would never be something they would agree to do because it would mean that they would have to reduce their corporate profits for the sake of a misguided government foreign policy.
The rapid decline in oil prices can only be the result of the new players in the oil business. These “new kids on the block” are truly outsiders. They are not a member of OPEC. The new players in petroleum politics spell their name ISIS and they are the main reason that the price of a barrel of crude oil is now flirting with fifty dollars for the first time in nearly a decade.
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