Putin Targets U.S. Fracking With Oil Price War, in New Threat to Trump's Election-Year Economy

[TomSea]

U.S.
Putin Targets U.S. Fracking With Oil Price War, in New Threat to Trump's Election-Year Economy
By Jason Lemon On 3/8/20

Russia has declined to reduce oil exports at the request of Saudi Arabia along with OPEC that led to the biggest decline in oil prices in five years on Friday--causing another headache for the American economy as markets have already seen significant ups and downs due to the ongoing Coronavirus (COVID-19) outbreak.

Now some oil experts are predicting barrel prices as low as $20 within the year, while Russian President Vladimir Putin has voiced confidence that his country can weather out a sustained and significant price reduction. Some analysts have argued that Russia's efforts are intended to counter U.S. shale producers and push back against U.S. sanctions targeting the Nord Stream 2 gas pipeline that connects Russia and Germany

"The Kremlin has decided to sacrifice OPEC+ to stop U.S. shale producers and punish the U.S. for messing with Nord Stream 2," Alexander Dynkin, president of the Institute of World Economy and International Relations in Moscow, a state-run think tank, told Bloomberg.

More at:  https://www.newsweek.com/putin-targets-us-fracking-oil-price-war-new-threat-trumps-election-year-economy-1491126

There is actually a whole lot on this front going on.

Saudi Arabia Starts All-Out Oil War: MbS Destroys OPEC By Flooding Market, Slashing Oil Prices
https://www.zerohedge.com/commodities/saudi-arabia-starts-all-out-oil-war-destroys-opec-flooding-market-slashing-oil-prices

So, the plummet in oil is not all due to the coronavirus??

We could almost even see retail outlets fail

I may move this, this is also "economy" and "energy" actually, I don't want to infringe on anyone else's area of debate.

[EdinVA]

We just spent the last 3+ years being told that Russia and Ukraine helped Trump win the election, to the point that congress tried to impeach the man?
Now Russia wants him out of office?

[catfish1957]

We just spent the last 3+ years being told that Russia and Ukraine helped Trump win the election, to the point that congress tried to impeach the man?
Now Russia wants him out of office?

The term democratic party and delusion can be interchanged continously.

[catfish1957]

Putin, and his band of cronies, Iran, NK, others are probably livid that the United States has achieved energy independence.  How better to reverse that by putting many of the E & P companies  out of business with the glut of $15-$20/ bbl oil.

[libertybele]

Putin, and his band of cronies, Iran, NK, others are probably livid that the United States has achieved energy independence.  How better to reverse that by putting many of the E & P companies  out of business with the glut of $15-$20/ bbl oil.

It looks like we are heading into a global recession; oil prices are plunging, brick and mortar are failing and once the corona becomes more prevalent in the U.S. it without a doubt will be Trump's economy and this may absolutely cost him re-election.

Poof ... once Biden is seated, the economy will rebound?

Was the corona bio lab engineered? It sure seems like a possibility.  Russia collusion didn't work, impeachment didn't work and through it all the economy was robust, until now, just months before the election.  Just my opinion.

[catfish1957]

It looks like we are heading into a global recession; oil prices are plunging, brick and mortar are failing and once the corona becomes more prevalent in the U.S. it without a doubt will be Trump's economy and this may absolutely cost him re-election.

Poof ... once Biden is seated, the economy will rebound?

Was the corona bio lab engineered? It sure seems like a possibility.  Russia collusion didn't work, impeachment didn't work and through it all the economy was robust, until now, just months before the election.  Just my opinion.

Nothing in your note is beyond the scope of plausibility. Too many parties...  including democratic party, Russia, China, NK, Iran, et.al want to break the back of the United States if it means disposing of  Trump. 

As far as whether economy will rebound, 4 yrs of slow joe will probably be much of the same maliase we saw under Obama.  So my guess is no.