Well, children, it seems the price of a barrel of oil will not firm up. The price looks for a new low, somewhere south of $30/barrel. This is a cause of concern for: 1) drivers-No, 2) taxi cabs- No, 3) drones- No, 4) Saudi Arabia-No-got plenty, 5) Japan-No, they like cheap oil, 6) America-No, we'll keep on pumping, thank you, 7) Russya- Yikes, our poor rouble @90+/dollar, 10) Venezuela- bring back Hugo Chavez, he'll fix it and nationalize foreign oil companies(Oh, sorry, already done that), 11) Brazil- horrors, economy could go into a depression just as we start the Olympics, Dilma, 12) Iran- oil-smoil, we don't care the $/barrel now that the Great Satan has lifted sanctions,13) Iraq- what oil?, 14) China- we'll let the floating yuan take care of it.
That's our round up of the oil price decline worldwide. Western Europe should benefit across the board as their energy needs can be used more effectively at lower prices. The price decline would also provide a stimulus along with Mario Draghi's plan to provide more economic stimulus in the Euro zone, especially in light of refugees flooding to the continent from Syria, North Africa, and the Middle East.
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