Lower crude oil prices could do more for us than just reduce the cost of filling the gas tank.
If the powers in the Arab world are as smart as we think, they will see that lower oil prices seriously curtail their ability to create mischief for the west (while lowering the living standards for many Arabs to a danger point).
And the Arab powers, including the powerful clerics, might just conclude that one way to stop the major decline in oil revenues is to stop the mischief and terrorism they have fostered.
Can the Arab thought leaders actually stop terrorism? If it is true that they generated it in the first place, then it follows that they can stop it. Actually they probably are the only ones with the power, know-how and local authority to halt or reduce terrorism unless, of course, it has grown more powerful than they are - - which is doubtful.
Can anyone recall a single cleric who ever criticized terrorists or threatened the families of terrorists??
With crude prices down 75% from the recent high, the decrease has to hurt, or will hurt the living standards for all in the oil-influenced world. And this could get threatening and put added pressure on the Arab thought-leaders to reduce their encouragement of “pain and suffering” for the west.
RELATED QUESTION/ACTION
Already oil prices and terrorism have driven the western powers to replace or reduce their need for oil. And the effort will continue unless the west foolishly believes a $40. or even $50. a barrel will be the going rate. That would be the second time in recent times that we “wasted a crisis” to quote others. The west works hardest to replace oil when high oil prices make the job easier and more urgent. The west should not relax its effort on temporary price declines for crude. In fact, there is some justification for putting a surcharge on petro when gas prices drop BUT with the discipline to use ALL the oil surcharges to invent our way out of the current need for so much oil. Then we should use whatever profit comes out of the successful research for oil reductions to create a new – technology that would up world wide living standard and repay the western world surcharges.
The key is to discipline ourselves to carefully book keep so all surcharges go to meaningful research for oil replacement/reductions and then repay those surcharges with profits from the savings from whatever is developed/invented.
If the west can’t so discipline itself, then it must accept the consequences of undisciplined weakness. And it, therefore, must accept the continued threat of terrorist mischief financed by oil prices the west can’t control.
"The key is to discipline ourselves to carefully book keep so all surcharges go to meaningful research for oil replacement/reductions and then repay those surcharges with profits from the savings from whatever is developed/invented."
ReplyDelete"If the west can’t so discipline itself, then it must accept the consequences of undisciplined weakness. And it, therefore, must accept the continued threat of terrorist mischief financed by oil prices the west can’t control."
This is a profound point and words we will most undoubtedly be eating if those actions are not executed as directed.