Has Oil Become The Weapon Of Choice For The U.S. And Saudi Arabia?

How Oil's Become The World's Most Potent Weapon: Forget Nuclear Arms. The U.S. And Saudis Are Behind An Oil Price Crash That Could Topple Regimes In Russia And Iran -- Daily Mail

* Price of oil has fallen dramatically - down by nearly half in six months
* The collapse in price means it is cheaper to fill up your car at the pumps
* But has sparked fiscal crisis that threatens to shift global power balance
* U.S. and Saudi Arabia are using market slump to wreak havoc on enemies
* While Russia - which depends on a bouyant price - is on the edge of crisis
* Most pressing issue for Britain is the fate of oil industry in North Sea basin

From Russia to America, and from Scotland to the Middle East, the dramatic fall in the price of oil — down by nearly half in six months — has sparked an economic crisis that threatens to shift the global balance of power in dramatic fashion.

As Russia teeters on the edge of crisis, America and Saudi Arabia are using the depressed oil market to wreak havoc on enemies such as Iran. The repercussions are being felt closer to home, too, with the North Sea oil industry described as being close to collapse.

The good news is that it’s cheaper to fill up your car at the pumps, but what does it mean for Britain’s national security?

Read more ....

My Comment: I would not give the Obama administration credit for producing this revolution in energy prices. The White House has always pursued an agenda of higher prices in order to promote industries that provide alternative energy .... namely wind and solar .... having lower prices will all but decimate the market viability of such products and will ruin the White House policy on developing green energy. What has changed the dynamics of the oil industry are market forces and technological change (namely the fracking revolution), the use of alternative energies such as natural gas, and energy conservation. As for the future .... lower oil prices will probably continue .... and it will be a rude shock to countries like Russia, Iran, and Venezuela who have grown dependent on high oil prices to finance their government budgets. But as to the possibility of regime change because of lower oil prices .... that is an answer that we will have to wait and see.