It is said that when one thing occurs it is chance, and when two things occur that are alike in scope it is coincidence. However, when several events tied to a specific thing take place in a short amount of time, it is wise to consider that it has gone beyond the scope of chance and is now in the realms of either a trend, or perhaps even a conspiracy. There has been much speculation as to why Saudi Arabia chose nearly a year ago to purposely crush oil prices when their own economy relies primarily on the sales of this commodity. Some have speculated that it was done to force U.S. fracking to go bankrupt, while others have suggested that it was done at the behest of the U.S. government to try to topple Russia's economy. Either way, the results have harmed the House of Saud, Canada, and even Venezuela far more that it has Russia, Iran, or American oil producers, so the question arises then for what purpose was this done?
To answer that question we must first put a few things into perspective.
So if we have at least four 'sea changes' within the 100+ year empire that is Big Oil, why would the top people and companies within the industry shoot themselves in the foot to not only drop the price purposely, but to also sell their assets when the markets are at their lowest points?
Here is one opinion on perhaps why this is being done, and for what purpose.
Selected Persian Gulf traders, and that includes Westerners working in the Gulf confirm that Saudi Arabia is unloading at least $1 trillion in securities and crashing global markets under orders from the Masters of the Universe – those above the lame presidency of Barack Obama.
Those were the days when the House of Saud would as much as flirt with such an idea to have all their assets frozen. Yet now they are acting under orders. And more is to come; according to crack Persian Gulf traders Saudi Western security investments may amount to as much as $8 trillion, and Abu Dhabi’s as $4 trillion.
There has been a huge increase in the Saudi and Abu Dhabi dump since the start of 2016. A Persian Gulf source says the Saudi strategy “will demolish the markets.” Another referred to a case of “maggots eating the carcass in the dark”; one just had to look at the rout in Wall Street, across Europe and in Hong Kong and Tokyo on Wednesday.
So it’s already happening. And a crucial subplot may be, in the short to medium term, no less than the collapse of the eurozone. – Sputnik News
The conclusion from all of this can point to nothing other than an end to the petro-dollar system as we know it, and a belief that oil will no longer be the primary energy source that runs the entire global economy. And when you add in the growing push from the elite and even the Vatican for climate change programs and a move away from petroleum fuels, it appears very likely that something new is about to emerge on the scene, and is large enough to cause those at the top of Big Oil to willingly sell at any price just in time to get out of Dodge.