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BREAKING NEWS: Oil prices plunge after Iran announcement

So who gets hurt ..US OIL!  The fracking revolution depends on high priced oil.

The fall in crude oil prices by 2 percent  following the announcement of the  nuclear deal with Iran may explain the Republican anger at the deal.   Sarosh Zaiwalla, a London-based sanctions lawyer, told Reuters “Sanctions have crippled Iran’s oil production, halving oil exports and severely limiting new development projects,” “The prospect of them being lifted is creating great excitement … as foreign trade and investment will allow Iran to make huge efficiencies and drive down the cost of production.”

My guess? ..the Rs are going to demand a tariff so we can protect American oil! 

 

 


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