Surviving Capitalism (Not) : OPEC decision a shot in oil price war

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Friday, November 28, 2014

OPEC decision a shot in oil price war

Click here to access article by Nick Beams from World Socialist Web Site.

Unlike many other geopolitical analysts who see GCC hyper-production of oil as a means to crash Russia's economy, Beams sees the Saudi and GCC actions as a method to counter US shale producers. Could it be that the major oil companies who figure prominently in the Empire's power structure are looking to buy up the smaller companies at cheap prices? However as Beams notes, there are not only adverse consequences to many US oil companies, but banking institutions as well. It's hard to figure where this is going, but one thing is for sure: there will be even more chaos in world affairs than there is now.