Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Friday, January 2, 2015

Lower Oil Prices Will Not Turn Producers into Pushovers

6:03 PM (4 hours ago)


to [Salon]
Published on January 2nd, 2015 | http://www.lobelog.com/lower-oil-prices-will-not-turn-producers-into-pushovers/

Lower Oil Prices Will Not Turn Producers into Pushovers

by Paul R. Pillar
The steep drop in the price of oil during the latter half of 2014 has generated much comment about how this development has weakened major oil-producing countries and supposedly made their governments more pliable on issues that separate them from other countries. Such commentary flows partly from the tendency of media and the commentariat to over-analyze any major development and to identify winners and losers. In the current instance it also reflects how people have happily noticed that several of the significant producers whose revenues have been most adversely affected by the price decline are countries commonly identified as adversaries of the United States, including Venezuela, Russia, and Iran. Edward Luttwak remarks that the price decline “is knocking down America’s principal opponents without us even trying.”http://www.lobelog.com/lower-oil-prices-will-not-turn-producers-into-pushovers/

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