Geopolitics Oil Price Drop Signals Global Depression and WW3
Christopher Greene of AMTV explains why oil prices are falling.
December 14, 2014
AMTV host, Christopher Greene explains how since 2008, the US has increased oil production by an astounding 50%, made possible by hydraulic, horizontal drilling known as “fracking,” making the US the world’s number one producer of natural gas and
doubling oil production in the States of Texas and Oklahoma, in just six years.
Back in 2008-2009, the price of oil was $200 per barrel. Lately, it’s been trading at barely $70 per barrel and forecasted to go as low as $30-$40, before stabilizing at $60. This is disastrous for the Russian and Iranian economies, which are almost exclusively
dependent on petroleum sales to run their economies.