One of the reasons our stock market is crashing is because of an oil war between Saudi Arabia and Russia, which was started by Saudi Arabia. Putin was ready for it and knew it was coming. According to some experts, they are both aiming at the United States shale industry, or at least Putin is. Russian President Vladimir Putin, in particular, is looking to destroy our shale industry and weaken the sanctions that made the U.S. the leading exporter.
CNN REPORT
CNN reports that “Vladimir Putin knows America’s fragile oil industry is built on a mountain of debt. So when Saudi Arabia called for production cuts to mitigate oversupply, Putin decided to pounce. His goal is to wrest market share back from American frackers whose debt-fueled growth caused Russia to lose its 2018 title as the world’s largest oil producer.”
“Russia’s strategy seems to be targeting not simply US shale companies — but the coercive sanctions policy that American energy abundance has enabled.”
They plan to cripple the shale industry, according to CNN.
FINANCIAL TIMES REPORT
Armed with a $570bn foreign reserves war chest, a floating exchange rate and an economy that relies far less on foreign capital and imports than just a few years ago, Russia believes it can weather the sharpest fall in crude prices since 1991 for longer than rival producers such as Saudi Arabia and — most importantly — the US shale industry, according to Financial Times.
EXPERT MICHAEL CUTLER
During an interview with TeamDML, retired INS agent, immigration expert, Michael Cutler said the United States is now energy-independent because of President Trump, but Saudi Arabia and Russia are trying to put a stop to that.
Cutler explained that between fracking and shale oil, the U.S. now has a surplus of oil, but producing it is expensive.
Saudi Arabia and Russia dumped petroleum onto the world market, causing the price of petroleum to drop drastically. Now, it is no longer economically feasible for the U.S. to produce its own oil, Cutler said.
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He said it appears the goal of Saudi Arabia and Russia is to force America to stop being energy-independent so they can use leverage against us, thereby weakening the United States.“
If we become dependent on other countries for our energy the way we were under prior administrations, then we can be held hostage by then because they can manipulate us,” Cutler warned.
He noted that Joe Biden is opposed to fracking and against shale oil production. “Could it possibly be that the reason Ukraine was eager to give Biden and his son money was because they knew he would pursue a policy that would prevent America from being energy-independent?” he asked.
That is why the President is considering bailouts for the industry.
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