Comments on: Oil price plummet won’t help U.S. with Iran or Russia Fri, 05 Dec 2014 14:27:05 +0000 hourly 1 By: Felder2 Thu, 13 Nov 2014 21:20:27 +0000 It surely would be egg on the face if they built Keystone XL and nobody came.

By: phaber74 Thu, 13 Nov 2014 17:49:14 +0000 I could not agree more that China will be the new driving force in the market for oil with the old US oil partners. This itself I believe to a short term view though. China’s aggressive expansion into the South China sea is a path that mimics the US’s drive to energy independence. If they find expansive reserves you will see the market continue to its downward trend.

China is a transnational partner at best and an opportunist in every regard. they will undoubtedly use any newly found reserves as continued leverage for better and better deals with any oil producing country.

I side benefit to all of this will be that our friends across the pond in the EU. they will see much lower costs for energy and time to retool their energy plan since as a continent and collective of countries they are are very energy resource poor.

All-in-all I see a collective positive in these moves. the US will not have a need to continue to engage in the middle east like current demands require. China will drive prices down for the rest of the world. EU should end up with a great contract from Russia and other regional suppliers….

The one thing I disagree with is the effect on Russia and Venezuela. Since neither of these counties have a robust educational system, infrastructure for modern/hi-tech industry and the corruption in these countries limits foreign investment. These countries will suffer greatly if the prices continue at current level or decline further. The issue will be that the rest of the world will care less and less.

By: steve399 Thu, 13 Nov 2014 16:49:21 +0000 Just wait til next week. The USA Thanksgiving travel Holiday will send gas prices at least 30-40 cents higher in the blink of an eye, irrespective of supply/demand. Why? Because the oil co’s know they got ya!.

By: gentalman Thu, 13 Nov 2014 12:37:42 +0000 Oh! How energy price plays part internationally! A wonderful and daring article!
The auther should have connected following points,
1,Oil from shales is expensive.
2,Transport of oil to Europe is tigious and expensive.
3,There is going to be the end of getting oil by fracking because of limited reserves there and lack of competitive price available.
4,ISIS is becoming new sourse of oil in the black market.
5,Wars everywhere consumes more oil.
6,It is not only oil but refining oil to gas capacities with America.Countries want gas,not oil.Developing countries oil requirement is galloping.
………….however the article is great!
Ashok Amin (83) (Please ignore my spelling mistakes)

By: CF137 Wed, 12 Nov 2014 05:03:42 +0000 The only reason why oil prices are so low is because the Federal Reserve has manipulated the value of the Dollar massively higher in order to crush the Russian economy (oil is priced in Dollars). The price of oil has absolutely ZERO to do with supply and demand.

By: UauS Tue, 11 Nov 2014 23:09:06 +0000 In my opinion, the US dependence on China has much graver consequences for this country and the world than Russia’s or Venezuela’s.

By: DonD1977 Tue, 11 Nov 2014 21:33:01 +0000 The current drop in oil prices may reverse as soon as this winter – seasonal demand ofsetting the EU/Russia recession.

If Putin does not escalate further in Ukraine – that pressure on the world economy will ease, allowing demand growth to return

By: rikfre Tue, 11 Nov 2014 20:14:06 +0000 Maybe the author can tell us why gasoline is not priced according to domestic consumption anymore.