We don’t exactly know why/how the price of oil has gone down to be at all-time low now. We are also not getting many insights from the ‘experts’. They seem as clueless as everyone else.
Generally the conspirators, mostly made up of individuals who deeply mistrust authority, attention seekers and also folks who are somewhat deluded, have readily available insight on why the official narratives/explanations are not to be trusted. You better believe that there’s a demonic plan here orchestrated by none other than Freemasons/Illuminati/Knights Templar/Rothschild/Aliens/your own government.
It’s hard for me to personally believe in some of these conspiracies because in order to actually manipulate oil price, you have to either flood the world market with lots of oil (to sell it cheaply) or significantly cut down the world demand (having less people buy it).
So far, these are the top three reasons given to us by the expert on the declining of the oil price.
- Saudi Arabia is keeping the price low to deliberately punish Iran and Russia for their support of Assad regime in Syria. Iran and Russia depend very much on very high oil price for running the country’s budget/operation. Has Saudi been flooding the world market with cheap oil? Most experts don’t think so. They claim that whenever the price of oil starts lowering significantly, Saudi Arabia with some consultation with OPEC cuts their production to artificially keep the price high. Based on a number of responses from Saudis spokesmen, they haven’t done that and are not planning to do that even if a barrel of oil reaches $20.
- Some are saying that the USA is keeping the price of oil low to punish Russia for interfering in Ukraine/Syria and Iran with Venezuela for being hostile nations. Since the United States oil industry has not been nationalized and the government of USA is not running the day-to-day operation of any of the oil companies and the US administration don’t even have enough power to sway the congress much less private business, then I don’t know how the government can get the oil companies to disregard the core mission of the organization (of making as much profits as possible) for altruist mission of punishing a foreign power like Russia.
- The third explanation is that the oil companies in US and Canada has been over drilling and flooding the market with more oil than anyone else. Perhaps the American oil speculators are finally realizing that a really free market (without artificially pegging the supply to the demand or some other way to control the market) doesn’t really favor them at all. It seems that massive layoff in North America is very much in the pipeline.
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