The oil price is up due to the conflict in Iran. A Ukrainian passenger aircraft is shut down by accident. That’s what I call mass murder. That Soleimani is blown into pieces is something that makes me very happy. But it is also the starting point of everything.
Over the years the oil price has fallen. This is for good reason. The USA is energy independent. The country shale boom ensured plenty of energy resources became available for the USA.
Now the oil price is up. By going up it is empowering OPEC production cartel.
American energy independence is also a big change in global politics. The USA is not dependent on oil from Venezuela, the Caribean Sea, and Nigeria. That oil is now all going to China and India.
But for American voters is a higher oil price a bad thing. But for the oil industry and the House of Saud, it is a very good thing.
I don’t think it was the intention of President Trump to help this brutal family. But he is taking on there arch-rival Iran. Let’s hope that it is going to end soon.