What Good Would an Oil Freeze Be?
Mead might be my favorite liberal, but this sentence is a doozy:
"The whole point of coordinating production is to help ease the oversupply that precipitated the collapse in crude prices over the past two years, but freezing output at already-high levels by definition won’t reduce supply."
Please Mr. Mead define oversupply. There is no such thing in oil. The oil tyrannies need to sell as much oil as they can, and are doing so. Saudi is in serious trouble, with only 3-4 years of reserves before they will have to return to the desert. Russia is slowly starving to death economically. Venezuela is about to learn the lesson so many dictatorships learn, that the power shift is brutal, and ugly. The other oil tyrannies are in equally dire straits.
Oil: The House of Saud is in serious trouble financially
The oil republics all have the ability to pump, and store oil for sale when prices spike. And if this price violability continues, we will see the republic capitalize on this maneuver.
This is the best thing that could happen in the world. The last stable dictatorships are being forced through the wringer. Expect some fractures, and some changes in governance.
Sadly, we are riding an ebbing tide of political statesmen. All we have now are flatfooted prevaricators like Hillary Clinton.
We, and the oil republics need to do everything possible to ensure low oil, gas, and energy prices for the next many years, ensuring the political changes necessary begin flushing tyranny from the world's political system.
I fully expect Obama, and Hillary to make hash of this if allowed, Hillary owes Russia for all the funding it has dropped into the Clinton Foundation. Blackmail like that pays.
I am comfortable Hillary will be less an American President, and more a Stepin Fetchit for all the foreign powers who have poured so much money into the Clinton Slush Fund, er, Foundation coffers.