Russia Breaks With OPEC...And Prospers.

NYTIMES/
“OPEC made a concerted effort to stem its exports,” Alex Fak, an oil analyst at Troika investment bank in Moscow, said. “The result of that action was higher oil prices. So Russia was encouraged to produce more and sell more. Which is what it did.”

Russia's Gazprom Chief Predicts $100 Barrel Oil. Price Manipulation Feared.

Raymond Learsy Via HUFFINGTONPOST/
Oil is now almost $69 bbl. Why? Raymond Learsy writes about oil price manipulation.
"In July, Phillip Verleger, a business professor at the University of Calgary and a fellow at the Peterson Institute for International Economics, predicting $20/bbl oil to come, told CNBC:
"The $20 story is relatively simple... Oil was $31 in December, got up to $70 a few days ago. The price shouldn't have increased. We have a huge surplus on the world market even with the OPEC cuts. It's running a million and a half barrels a day. I've been following this since 1971. We have never had a stretch with such a large surplus."

Russia Now World's Top Oil Producer. Europe Ponders Winter Gas Supplies.

GUARDIAN.UK/
Russia produced almost 10 million barrels of oil a day in August -a post-Soviet record. Oil Analyst Andrew Neff said "Not only is it(Russia)the world's largest gas exporter but now the world's biggest oil exporter as well. The question is will Russia want to exploit its feeling of superiority and demand a seat not just at the table, but at the head of the table."

WTF! Oil Price Has DOUBLED...Under Obama.

The price of oil has doubled since Obama took office...from about $33 per bbl to over $72 per bbl.
Not because of fundamentals...but rather because of investor sentiment.

OPEC's manipulation is making the world's economic recovery...increasingly untenable.

What is Obama doing about it?

http://www.huffingtonpost.com/raymond-j-learsy/the-price-of-oil-has-doub_b_214143.html