These gas prices are awesome right?
Crude is below $70 and there is some speculation among analysts that we haven’t hit bottom yet. For many Americans, this is like an unexpected tax break. Who doesn’t mind a little extra money in the pocket?
But. Isn’t there always a but?
What is good news to us is bad news to countries whose economies heavily rely upon oil exports. As it turns out, many of these countries don’t like us very much and their governments have only been able to maintain control via petro-dollars.
Iran is an obvious one. Already seriously hurt by sanctions, Iran is poised to suffer greatly from this downturn.
And…And there is a certain country run by an often shirtless dictator with proven penchant for aggression toward his neighbors, a desire for territorial expansion, and is also the worlds largest oil producer. That is one big match to put to all those stockpiled petroleum.
Now might be a good time for that consecration. Just sayin.