{"id":4364,"date":"2015-01-10T17:38:30","date_gmt":"2015-01-10T22:38:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4364"},"modified":"2015-01-10T17:38:30","modified_gmt":"2015-01-10T22:38:30","slug":"oil-price-blowback-is-putin-creating-a-new-world-order-oped","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4364","title":{"rendered":"Oil Price Blowback: Is Putin Creating A New World Order? \u2013 OpEd"},"content":{"rendered":"<blockquote>\n<h3 id=\"post-4351\" class=\"post_name\"><a href=\"http:\/\/emergingequity.org\/2015\/01\/07\/oil-price-blowback-is-putin-creating-a-new-world-order-oped\/\" target=\"_blank\">Oil Price Blowback: Is Putin Creating A New World Order? \u2013\u00a0OpEd<\/a><\/h3>\n<p>\u201cIf undercharging for energy products occurs deliberately, it also effects those who introduce these limitations. Problems will arise and grow, worsening the situation not only for Russia but also for our partners.\u201d \u2013 Russian President Vladimir Putin<\/p><\/blockquote>\n<p><a href=\"https:\/\/emergingequity.files.wordpress.com\/2015\/01\/putin-oil.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-4352 alignleft\" src=\"https:\/\/emergingequity.files.wordpress.com\/2015\/01\/putin-oil.jpg?w=400&amp;h=252\" alt=\"Putin Oil\" width=\"400\" height=\"252\" \/><\/a>By Mike Whitney<\/p>\n<p>It\u2019s hard to know which country is going to suffer the most from falling oil prices. Up to now, of course, Russia, Iran and Venezuela have taken the biggest hit, but that will probably change as time goes on. What the Obama administration should be worried about is the second-order effects that will eventually show up in terms of higher unemployment, market volatility, and wobbly bank balance sheets. That\u2019s where the real damage is going to crop up because that\u2019s where red ink and bad loans can metastasize into a full-blown financial crisis. Check out this blurb from Nick Cunningham at Oilprice.com and you\u2019ll see what I mean:<\/p>\n<blockquote><p>\u201cAccording to an assessment from the Federal Reserve Bank of Dallas, an estimated 250,000 jobs across eight U.S. states could be lost in 2015 if oil prices don\u2019t rise. More than 50 percent of those job losses would occur in Texas, which leads the nation in oil production.<\/p>\n<p>There are some early signs that a slowdown in drilling could spread to the manufacturing sector in Texas\u2026 One executive at a metal manufacturing company said in the survey, \u201cthe drop in crude oil prices is going to make things ugly\u2026 quickly.\u201d Another company that manufactures machinery told the Dallas Fed, \u201cLow oil prices will drive reductions in U.S. drilling rigs, which will in turn reduce the market for our products.\u201d<\/p>\n<div>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/blockquote>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil Price Blowback: Is Putin Creating A New World Order? \u2013\u00a0OpEd \u201cIf undercharging for energy products occurs deliberately, it also effects those who introduce these limitations. Problems will arise and grow, worsening the situation not only for Russia but also for our partners.\u201d \u2013 Russian President Vladimir Putin By Mike Whitney It\u2019s hard to know [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,5],"tags":[1775,694,857],"class_list":["post-4364","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-geopolitics","tag-oil-price-collapse","tag-russia","tag-vladimir-putin"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4364"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4364\/revisions"}],"predecessor-version":[{"id":4365,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4364\/revisions\/4365"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}