Shifting to renewable energy is a high stakes game. The Climate Change/Warming/AGW has more forces arrayed than mere science. Huge geo-political changes afoot. Renewable energy means local control. It's a world many do not want to see coming.
Some excellent analysis (imo) of the current situation in the comments -
Comment: "The US armed forces run on...oil. You would imagine that the Pentagon budget, which pushes towards $700 billion annually, would be severely affected by any major change in the price of a barril of petroleum."
Comment: "Russia is selling their oil for gold! Gold prices are undervalued and manipulated by the federal reserve banks. There are no free markets! The petrodollar is dying as countries abandon the agreement Nixon made with the MIddle East countries to guard their oil fields with our ever-expanding military industrial complex in exchange for their oil sales in US Dollars! Who the heck knows who will win this "war"! It is nice having cheaper gas! However, Alternative energy is the only way countries win this gooey mess!"
Comment: "usa.....Well I think the necessity for this kind of 'warfare' is easy to figure out. The dollar (oil backed) is at the biggest risk it has ever been in I think. Like BIG. This is all a finesse, like in Bridge, you have a 50% change of winning if you take the risk.
I think the whole shale thing was a speculation and turned out to be an enormous loss and it was intended. Not by the government but by the deep state. Let's blame the Sauds with the Sauds cooperating. And to kill two birds with one stone let's attempt to break Russian economy. And lets see if we can win at this and save the dollar before everyone is into renewables and oil isn't worth as much as toilet tissue.
Russia not only has China they have also India and I suspect some of Latin and S. America. Will they have to tighten their belts --considering we laid Crimea on them and are fooling around in the other border states with our sleight of hand? Sure. But they can do it. They will do the same thing as Iran and become enormously self-sustaining. We and Europe are not the only players on the Planet!
Their biggest problem, as I understand, now --is supplying their country with 'enough' food. Thus they are investing in agriculture big time. Their North and North East will become more agri friendly as the temps are rising, as will indigenous and new Russians in re-locating more North to do husbandry and agri.
A billionaire just invested to do apples big time in Russia (a Russian) and this is killing Poland, where Russia got its' apples. Russians love apples.
Chinese and Russians do not like one another. However because of their location to each other they will always cooperate for their sovereignty.
We talk about Russia and hard times as a distraction from the ENORMOUS problems with joblessness, huge poverty for children and elders, and loss of pensions and medical in the UK and France and spreading fast. No question: Depression! The Ukraine is in bad straights for everything. This all going to backfire on EU and U.S. and Canada --as it should."
Comment: "Pensions and state incomes are not being cut back and promised increases are being implemented. China has openly declared fealty to Russia and will assist them in any manner possible-this without being asked. I suspect this had a lot to do with stopping the capital flight and arresting fall of the Ruble these past few days. Russia has half a trillion in reserves to deal with just such a move having prepared for it the last time it was pulled. The BRICS have been gearing up for getting off the dollar and these moves by the West just accelerated those plans thus the demise of the dollar is even closer at hand. See Michael Hudson for impact of new cold war a more realistic appraisal I would say and he is an economist not a ex military man turned diplomat. Much as I like Wilkerson."
Comment: "A few thoughts on this. I think the price is being manipulated in collusion with the US. However on one hand it is counter to what the administration preaches I.E., concerns about global warming etc. Obviously lower prices will increase sales. China is likely benefiting from cheap fuel which is bad for us in the longer picture. Russia should and likely will move away from the petro dollar with all their might but it will hurt them in the short run. Canada will get crushed with bankruptcies if OPEC continues on the current path. You can't make tar / shale oil for $30 a barrel! This of course will kill the pipe lines as well. So on that level, if you believe that people be damned, it is good for the environment. $30 a barrel will kill crude production in North America and this will end the current mini booms of decent paying jobs in certain areas of US and Canada and any semblance of North American energy independence. BTW this also keeps our perpetual wars up and running if we once again require ME oil.
Then there is the "isis threat" which is actually helpful, as an excuse, to the administration of both US parties but wanting to have the "enemy" sufficiently weakened so they can proceed as planned in the ME. So ISIS is definately also affected by these low prices.
In the long term if this policy is sustained it will lead to others besides Russia and China moving away from the petro dollar. The history of collapsing currencies and falling empires runs hand in hand and seems to make a few things clear. One, they can happen "without warning"(see MSM) and 2, can transpire much much faster than most believe."
Comment: "For oil to have dropped so much, it shows how obscene the profit margin on oil has been for decades."
Comment: "I agree and Middle East wars are nothing but excuses to keep other players off the market and prices high. We have been getting screwed royalty for far to long."