With instability following the death of King Abdullah, Iran may take a lead in the relationship with Saudi Arabia which could put pressure on Riyadh to improve the internal situation in the Gulf state, Gerald Horne, author and historian, told RT.
Wahhabi extremism is a direct outcome of the foreign policy that the oligarch consensus in Saudi Arabia has pursued for decades, thus there won’t be any substantive policy changes, geopolitical analyst Eric Draitser, told RT.
The current oil price decline can be explained by heavy selling in US future markets which is part of an all-out economic war between the US and countries like Russia, Iran and Venezuela, says financial journalist, Willem Middelkoop.
The Davos meeting is not looking for world crisis solutions but plotting more controls, ‘banksterism’ and power elite benefits, says economic journalist Lew Rockwell. They are going to tax and rip off their own people to even greater extent, he added.
OPEC countries have so far failed to reach an agreement on cutting oil production and currently the group is divided into two camps: those in favor of reducing production and those who want to keep things as they are oil expert Rami Eljundi told RT.
The House of Saud now finds itself in times of extreme trouble. Their risky oil price war may eventually backfire. The succession of King Abdullah may turn into a bloodbath. And the American protector may be musing a change of heart.
The oil price crash is the first battle of Global War I between the geopolitical interests of the West versus Russia and its allies, says international consultant Adrian Salbuchi. In the future we might see the same happening over water or food, he adds.
The oil price will continue to decline and all OPEC countries will lose, unless they stop defending their individual shares in the global market and agree on cutting production, World Bank oil and energy consultant Mamdouh Salameh told RT.
Austerity measures in Greece don’t work anymore, as the single currency put all EU countries in a straitjacket, and Greek olive oil is priced in relation to the prices of an export powerhouse, Patrick Young, expert in global financial markets, told RT.