Those who have to drive may have noticed how over the past 2 years the price of oil has collapsed. While many valid reasons exist, one often overlooked cause is the intervention of ISIS in world oil markets, in collusion with their friends at Morgan Stanley and elsewhere.
There is no doubt that more fuel efficient vehicles, declining economies, and alternative fuels have played a part in the decline of the price of oil, with other more material causes such as the disruption of the US petro-dollar by de-dollarization, and the decline of the oil derivatives market, but one cannot overstate 2 specific causes in the Middle East, not the least of which is ISIS theft of oil, and lifting of sanctions against Iran.
Thanks to a fantastic PowerPoint presentation Vladimir Putin made at G-20 Summit in 2015, we know exactly how ISIS stole Iraqi and Syrian oil and sold it on the New York black market to firms like Morgan Stanley and Goldman Sachs, the latter firm which PBS shamefully allows to sponsor its programming, which operated under Switzerland's famous secrecy laws - which are not quite so secret any more.
Putin embarrassed, if not humiliated, the Western world's terrorist leaders of the United States, United Kingdom, France, Italy, Canada, Israel, Turkey, Germany, and others who are involved in this scheme. In urgent need of arms to murder people and wreak havoc in Syria to support the Bush Crime Syndicate's Project for a New American Century, ISIS was willing to sell through Turkey's President Erdogan and his son oil on the cheap.
It may also be the case that some power peddlers helped crush the price of oil as a way to either hurt Russia, which is quite dependent on oil exports, or the US which was on a trajectory of "oil independence" through its massive fracking of the shale sources, but ISIS played a huge role.
Now that Putin has put a dent in that stolen oil supply, its price has started to rise. It will be interesting to see where the BCS, Israel, and other Western powers turn next in order to bring murder, mayhem, and destruction
Copyright 2016 Tony Bonn. All rights reserved.