Oil prices are slowly creeping higher as Saudi Arabia and Russia cut oil output which is pushing global prices higher. As we speak oil prices are now sitting at $85 per barrel with no sign of slowing as many commodities climb higher and fears oil could push well past $90 a barrel in the next few weeks and then past the $100 a barrel mark.
This is a nightmare scenario for the West who are oil dependent and the timing is strategic from Russia and Saudi Arabia who have become much closer in recent times as the middle east oil giant moves away from American influence and the US dollar.
Russia was always going to hit back against the west after the recent terrorist attack in Moscow which is believed to have had British and American involvement and the choking of the oil supply is a strategic financial attack against the West that will have serious economic consequences if we go past $100 per barrel.
The West is totally unprepared for much higher oil prices and this could become much worse if Iran cause further problems in the region with rumours swirling around future attacks on Israel after Israel’s recent attack on Damascus, Syria.
The West is self destructing and this is been led by the Green Energy policies that are destroying countries with Biden announcing the slow elimination of fossil fuel cars for electric vehicles whilst Australia announced new taxes on large vehicles and SUV’s which would mean a $15k to $25k tax increase on new four wheel drives.
It’s a disaster waiting to happen with the West policy on eliminating fossil fuels and pushing electric vehicles and Russia and Saudi Arabia cutting oil supplies which will further strangle the West’s economy.
$100 oil means Australia would be paying around $2.50 a litre for unleaded, would push farming costs higher, freight costs higher and weaken the economy considerably in a short space of time with higher costs and prices.
Europe would be paying between $3-$4 a litre plus all the other costs associated with higher oil prices that would hurt there economies.
We are looking at a scenario where those in power for the West who have had long dreams about a green revolution are about to face reality with higher oil prices and an economy that can’t function without it and has no new energy infrastructure in place or is cost effective. It’s not going to be pretty as people who are already struggling with cost of living pressures are going to see costs surge again despite been told inflation is under control and that green energy is the solution from every major political party.
The West is about to see more social and political chaos and Putin and the Saudi’s are just sitting back laughing at how stupid the West really is as we self destruct from within. The new Green Energy Utopia dream is about to face reality and be destroyed in the process as shit gets real.