December 10, 2014 – San Francisco, CA – PipeLineNews.org – The rapidly falling price of crude oil, and consequently the availability of less-than-$3-dollar gasoline is proving a win-win for U.S. national security.
With U.S. oil production up over 50% since 2004, due to new drilling technologies [horizontal drilling and fracking] as well as increased oil exploration [no thanks to the administration, the new oil is coming from private, not federal tracts] foreign countries who depend on oil revenue are hurting.
That most of these countries are Islamic dictatorships and not friendly to U.S. interests simply sweetens the cake.
Iran is massively dependent on maintenance of high crude prices, nearly 20% of the country’s GDP comes from that single source This development has led Iran’s Head of State Rouhani to charge the West is involved in a conspiracy to harm the regime.
“The oil price drop is a plot against the regional people and Muslims which merely benefits some other countries…the fall in crude price is not merely an economic issue. Rather, it is caused by a plot and political planning by certain countries,” he said. [source, Yaakov Levi, Rouhani: Oil Price Drop is A 'Plot' Against Us, Arutz Sheva]
We find it humorous that Rouhani would charge the U.S. with stabbing the Muslim world in the back over falling oil revenue since implicit in that silly charge is the assumption that the West voluntarily placed its economic future in the hands of a despotic OPEC.
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