Yes, Mr. Al-Naimi, the price of Oil is perfect - for OPEC.
With Oil prices trading between $70 and $80 per barrel, OPEC feels that the political will necessary to develop alternative transportation infrastructure and energy supplies simply will not be there in the developed nations. "Perfect".
Trade surpluses into the Oil exporting nations are sufficient to maintain the position of the elite and placate their masses. "Perfect".
Oil prices are such that the exporting nation's elite can continue to triangulate the political pressures on them from the importing nations, and these nice folks can continue to fund all sorts of "kooks, loonies, and squalid criminals" (Ronald Reagan). "Perfect".
And if all involved would just maintain the status quo, forever, things will continue to be: "Perfect".
The sad fact is our leadership here in the U.S. and the West is simply hopping to extend the status quo until the next administration takes office, which the current one hopes is 2017, to which I answer:
NAFC. Perfect.
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