Processing Distortion with Peter B. Collins: World Oil Market Collapses

Peter B. Collins Presents Antonia Juhasz (updated Jan 9)

Oil industry watchdog Antonia Juhasz comments on the stunning drop in crude oil prices that has driven down the price of gas in the US, and threatens the stability of energy markets. We explore why OPEC and Saudi Arabia have maintained production despite the glut of crude oil: is it an effort to hurt America’s frackers and shale exploiters, and is it connected to Obama’s efforts to punish Russia over Crimea? We also talk about the impact on domestic production, the frack/shale bubble that many industry critics have warned about, and Chevron’s recent failed effort to use the power of Citizens United to buy an election in Richmond, California.

*Antonia Juhasz is a leading oil and energy expert. She is a policy analyst, author and investigative journalist. Juhasz is the author of three books: Black Tide (2011), The Tyranny of Oil (2008), and The Bush Agenda (2006).

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Comments

  1. I hear the prices are climbing up very fast in the US right now, hasn’t happened up north yet, but usually when Uncle Sam coughs, beavers sneeze.

  2. I forgot to say, I filled out a hell lot of canisters while the price is down to 104.2 cents a litre, the lowest it’s been. But I remember not that long ago in 2010, gas was stuck at 99.9 cents/L for almost a year and about 70-80% of the price is taxes on the price, advertised taxes, then you pay the additional federal and provincial sales taxes, of course the larger provincial tax is added first, too. If the money was not only 1-2% printed at the bank of canada, interest-free, in the controlled way it has been until 1978, I wouldn’t mind it. Funnily when our debt becomes unmanageable, that’s what happens when 98% of the money is printed by a german company who sells back the money to the bank of canada with for profit…ridiculous.

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