No it is not the president of the United States, no it is not a sleazy CNN spokesperson, it is this silly video an intern found in the CNN archives and posted online. What a sad & depressing ending if you ask me.
Happy new year BTW. Hope you all will have a nice 2015 and had a good Christmas wityh your family and friends. I did!
Here is my new years story/ Christmas tale for 2014:
People in Russia might not have such a good Christmas. The ruble tanked and the story behind it is quite fascinating. I am not in the mood to write it all down in detail, so the short version: the OPEC decided that it will sabotage the fracking industry in the United States and very OPEC unlike they open all pipelines and pump more oil than ever into the economy. Saudi Arabia, the most powerful member in the OPEC pushed all members for this decision. result: we all can get the cheapest gas since 8 years at the gas station. Crude oil fell below USD 50 even sometime last week. What a nice Christmas present from our Saudi friends! You would think a oligopoly is there to push up prices but they want to stop the United States to go on with fracking (which is a method to win oil from soil). It is costly and only profitable when the oil price is somewhere north of 80 – 100 USD a barrel. So Our Saudi Kings send the oil price south. What does this have to do with Russia? The oil price and gas prices are tied to each other and Russia is the main gas exporter in the world, making us Europeans feel warm and cosy during strong winters. Those winters are not happening anymore as we all polluted the air and caused global warming, so Russia was exporting much less gas this winter anyway and because of the Saudi Kings being very pushy to destroy the US home made oil business, the gas prices were also going south. Russia’s state budget is very dependent on that income and the Finance minister maybe drank to much vodka so he forgot to look into his crystal ball which might have warned him that if the oil price tanked, the gas price tanked and his budget would not be future proof. The budget deficit is huge and investor confidence in Russia was not as expected. All investors went out of the ruble as result and send the ruble north as well. This resulted in French investment bankers who quit their job to work in Russia to flee the country, other foreign workers from Indonesia being stuck in Russia with no money to return home and many sad Thai hotels who were missing their yearly main income as all the Russians stayed home this year.
Welcome to the global economy. You want to see the guy responsible for it? Here is a picture. God bless him as he got our cars fuel for 50% of what we used to pay the last 8 years.
It might be just a warning to us. In a few weeks he brought down a whole country with the oil price. If OPEC turns the decision and get the oil price to let’s say USD 150 or USD 200, we might be facing Russia’s fate in Europe and the US. When the fracking business has died long time ago…..