Don’t think today’s cheap oil price is going to last very long. These artificially low oil prices are part of a strategy put in place by Saudi Arabia to bankrupt North America’s shale oil and fracking extraction operations.
And it’s working: thousands of oil-related companies have already filed for bankruptcy across North America (with more to come).
Once the fracking and shale oil operators have been obliterated by the low oil prices, OPEC will cut off supply and force prices back up to $150 – $200 per barrel over the next few years to make up for the losses they’re experiencing right now.
When this happens, everything in America will get more expensive, including food, travel, product inventory and logistics, and all hydrocarbon-based products such as fertilizers.
Obama desperately hopes he’s no longer in the White House when the OPEC price hikes hit the fan…