Oil Prices Have Hit An 11-Year Low, And That’s Exactly What Saudi Arabia Wants

I wonder what the repeal of the 40 year old ban on American oil exports will do to the global markets, will it just drive the price down even further? The Republican Party has been itching to reverse this 40 year old ban and they succeeded at last, but to what end? From what I have read, the Saudis purposefully kept production stable in order to drive down the oil prices to put American and Canadian small oil producers out of business, these small producers concentrate on dirty tar production and fracking, so it actually behooves us to have them forced out of business, if we truly care for our environment and the global consequences of a hotter planet. Granted I am never a fan of putting people out of work, but there are two huge alternative energy sectors that can employ thousands upon thousands of hard working people throughout the nation, so there are ways to turn any potential unemployment situation around, all that is required is some serious commitment from us as a society. Mind you, Saudi Arabia sits on tons of oil, they are prepared for the long game, they are self-aware and understand full well that the future is energy alternatives, they are investing in those, but since they are the ones calling the shots, Saudi Arabia will maximize and manipulate the energy markets to their advantage for as long as possible. It is for us to decide before it is really far too late, what we are envisioning for the future, hope is still our most precious commodity, we owe it to ourselves to let young people fly as soon as they exhibit a fascination for the feat itself. 

Read the article:
http://www.huffingtonpost.com/entry/oil-prices-saudi-arabia_56785f6ae4b014efe0d652ca?utm_hp_ref=business

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