For most of the post-1945 period the world economy has been under the control of the large Anglo-American oil majors, their banks and their friends in OPEC, most especially Saudi Arabia. Today that control in the world oil market is irreparably broken. The world is entering a new phase in the Petroleum Era, a potentially far more interesting one.
by F.William Engdahl, NEO:
In September 2014 when Brent oil prices were bouncing around the $100 a barrel range, Washington had the delusion that it could re-enact what it did with Saudi Arabia back in 1986 and collapse the world oil price in order to bring Russia to her economic knees. By December 2014 it was becoming clear that it was Washington and the US shale oil industry that was being brought to her knees, not Russia. That was the first major indication something was terribly wrong with the control mechanisms…
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