Why you should fear oil prices at $90, $100, $150, or $200: Morning Brief

[JT45242]

2. Get the Iran deal done and lower Venezuela sanctions... frackers etc.

Iran could almost single handedly replace all Russian crude oil on the market. Venezuela would ease the burden in NA and Sa. If the Iran deal hadn't been trashed to give Putin more leverage by the defeated former guy, Russia's influence and fear of them turning the oil/gas screws on the EU would be virtually non-existent.

There is also the matter that the shale oil and fracking companies have refused to increase their output. We are not suggesting that they go full on stupid by producing so much oil that they drive the price below profitability which they did following the great recession. If they were to double their production, oil would sustain a price in the $60-80 barrel range, which would still be profitable for them and keep the economies rolling while absolutely crippling Putin and Russia.

Putin played the puppet pResident to get out of the Iran deal so that the oil supply to the EU and Asia would be vulnerable to his machinations. Take that power away.