JD: I want to ask Ron is Russia and Saudi Arabia both trying to flood the market and one or the other come out on top of this whole struggle or battle?
RM: It’s no secret that the growth of US shell oil has been a thorn in the sides of both Saudi Arabia and Russia. They both have seen their market shares erode as the shell boom made the US the worlds largest crude oil producer. OPEC and Russia finally agreed to production cuts on April 10th. You know Jimmy oil wells can’t simply be turned off and on like tap water. It can take weeks to shut down one. It costs lots of money to shut one down and even more money to start them up again and there’s a good chance the well can fail.
JD: Is this Russia trying to ultimately destroy US economy with the oil fight that’s going on?
RM: Both Russia and Saudi Arabia would like to put an end to the oil shell miracle because the strangle hold on the world oil market. There’s a concerned effort there by both to get rid of the shell problem as they see it.
On Tuesday President Trump announced, “we will never let the great US oil and gas industry down”. Sadly that may make the situation worse by keeping all the shell oil producers in operation means they’ll produce more oil and possibly exacerbate the glut and drive prices even lower.
JD: That’s how it would hurt the United States and I understand all of your reasoning there, but this will also have an impact on Middle East oil producing companies as well. Could it put them into bankruptcy, which would maybe motivate them to get quicker into action against the Jewish state of Israel since they won’t have the money to pay for their military operation?
RM: You know the continued disruption and supply and demand will affect the companies of every oil producing nation and especially Iran since exports are its main economic life line. You know maybe this is why there are so many headlines of Iranian aggression this past week that caused a rise in the oil price from below 0 to $17 per barrel on Friday. So we’re seeing a lot of geo political moves out there.
JD: Ron Morro with the details on how Russia and Saudi Arabia are endeavoring to drive the price of oil down so they can gain leadership in our world today.
We report this information because it is setting the stage for Bible prophecy to be fulfilled.
Ron’s report reveals how Russia could push the United States possibly into bankruptcy and then use its power position to lead the Middle Eastern nations into a coalition of Arab and Islamic states who will endeavor to destroy the Jewish state of Israel. This end time scenario was foretold in Ezekiel 38, Psalm 83, and Daniel 11.
Russia and Saudi Arabia flooding the oil market is indeed setting the stage for these prophecies to be fulfilled.