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At the end of September, the Organization of Petroleum Exporting Countries (OPEC) surprised the markets by agreeing to a production cut.
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Thus far, the Saudi royal family has maintained its highly oppressive form of government by pacifying its people with an extensive welfare state funded by oil money. But low oil prices brought about by hydraulic fracturing in the United States are forcing the monarchy to give the Saudi people more freedom in order to remain in power.
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After years of rising gasoline prices, people are puzzled by the recent drop that has the national average for a gallon of gas at $3.
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After years of rising gasoline prices, people are puzzled by the recent drop that has a gallon of gas at levels not seen in nearly four years. Typically in times of Middle East unrest, prices at the pump spike, yet, despite the violence in Iraq and Syria, gallon of gas is now at a national average of $3.
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It’s been a rough couple of weeks for the Chicken Littles who insist man has caused run-away global warming.
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