Plunge in Oil Prices Could Shake Up Middle East, Russia
Expect a lot of vanity spending by Russia but also Saudi Arabia to be pared back to almost nothing. Strategic warfare will feel the cuts most as Putin will need troops for potential domestic violence and not so much to deliver show-offs with the US on who has the better wonder weapon. Saudi Arabia won’t be as able to bankroll wars anymore but so will Iran be cut back. As the international price of crude is rock bottom, nobody will even pay reduced prices for contraband oil. There simply is no meat on the bones anymore. A good thing would be if some countries would stop relying on oil and start trusting their own entrepreneurial class with liberating them and the economy. But I may just be dreaming. Most will sit tight and hope the good times may come back.
