Oil war: How US and Saudi crashed crude prices to hurt Russia, Iran, Venezuela in 2014
Geopolitical Economy Report
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The 2014 Oil Crash
Ben Norton: Europe is buying LNG not because of the invisible hand of the free market, but because of political reasons. And then we also saw that with the massive price of oil because Europe can no longer get oil from Russia and led to a decrease in the supply of oil in the global market. The US uses this as an opportunity to increase its liquefied natural gas exports to Europe at extremely high prices. So capitalism is not a product of market forces. The market forces are a product of politics. That is how political economy actually functions.
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