[BITList] Oil Glut? What oil glut

[John Feltham]

Will Russia go to war in Europe? Will the price of oil stay down?
How will the oil producing countries in the Middle East react?
How will the radicals raise finance for their terrorist activities? 
 
This article makes interesting reading, and will provoke much thought.

Oil Glut

True or False?

No one believed this would happen so fast, but the US is already the world's biggest oil manufacturer, bigger than Saudi Arabia. Thanks to the oil shale technology which is changing the world of energy.
 
Within a year, the US is expected to export about 1 million barrels of oil per day and produce 12 million barrels a day. (Iran, by comparison, manufactures about 1.5 million barrels per day.)
 
This means that oil prices will continue to drop, as the US is already competing against other manufacturers. As a result, Russia will be crushed, Saudi Arabia and the rest of the Gulf states  will fall flat on their face, the cartel will collapse. All the dictatorships which were mainly based on oil, like Iran, will face a gloomy future.
At the same time, democracies like Canada, Brazil, Mexico and Nigeria will enter the market.
 
The Arab oil era is over, and so is the destructive power of the Persian Gulf 's oil dictatorships. These dictatorships have disgracefully controlled the failing Europe. Buying politicians, bribing companies, taking over the economy and gaining political power which was also used against Israel. 
 
It will take a few months, but both the Europeans and the Americans will realise that the era of the destructive Arab power is over. Because the Gulf States  will have no money to spend. On the contrary, they will be rocked from the inside by social, ethnic and terroristic shocks, as they will have no money left to continue satisfying the radical terrorists.
The signs of the drop in Arab power can already be seen. Twenty-two Arab states made a huge effort last week to pass an anti-Israel resolution at the United Nations Security Council. They failed. The US was undeterred by them, and so were strong Western Countries. It's true that France and Luxemburg are still controlled by the Arabs, or think they are. But they will also realise that the era of Arab money is over.
 
But as oil prices continue to drop, what will happen to Russia? The country is collapsing and could turn to a European war to save itself. And what will happen to Egypt which is currently funded by Saudi Arabia? 
 
Then what about the rich Gulf States, like Qatar? They are deluding themselves that someone will be interested in them if they don’t have oil. Some are even toying with the idea of tourism. Well, if there is no oil, no one will want to come there at all, and the sand will once again cover the towers rising in the air which they have built.
As the year 2015 unfolds, we are facing a new world. A world of revolution, of information, mind, personal strength, innovation and inventions.