The State of Affairs in Russia

[Martinus]

White House spokesman Josh Earnest

That's a great name for a political spokesman

[Monoriu]

My primary concern is whether this is the beginning of the next round of global financial crisis. 

[Martinus]

The decrease in oil prices, also allays Euro fears of the sanctions themselves.

Yes. It's a virtuous cycle, really. 

[Martinus]

My primary concern is whether this is the beginning of the next round of global financial crisis.

Yes, we know what your primary concerns are. 

[Siege]

[Razgovory]

Looks like you'll be seeing a paycut next year.

[jimmy olsen]

http://blogs.reuters.com/great-debate/2014/12/16/in-2015-vladimir-putin-may-witness-his-empires-death-knell/?utm_source=Facebook

I think the Russians would be more likely to commit genocide than let that happen.

[Liep]

Apple Stops Online Sales in Russia Over Ruble Fluctuations
By Tim Higgins - Dec 16, 2014
Apple Inc. (AAPL) halted online sales of its products in Russia due to "extreme" ruble fluctuations, showing how the currency's swings are rippling out to international businesses.

The iPhone and iPad maker stopped sales from its Web store as Russia's currency lost as much as 19 percent today, with a surprise interest-rate increase failing to stem a run on the currency. The ruble briefly sank beyond 80 per dollar, and bonds and stocks also tumbled.

"Our online store in Russia is currently unavailable while we review pricing," Alan Hely, a spokesman for the Cupertino, California-based company, wrote in an e-mail today. "We apologize to customers for any inconvenience."

The selloff in Moscow is spreading across the globe, prompting nervous investors to pull money from other developing nations amid concern that Russia's financial struggles and the tumble in oil signal a global economic slowdown.

No middle class deserves to go through this.

[Syt]

Lucky Russians!

[Martinus]

According to some journalist, apparently the capitalisation of Google is at the moment greater than the aggregate capitalisation of all companies listed on the Moscow Stock Exchange.

[Viking]

Wait, oil is $67 a barrel now? Holy shit. Wasn't it already at an all time low at $80-something a barrel few months ago, or was that a different kind?

Saudi Arabia has been turning on the tap trying to make shale oil and tar sand oil economically unviable, hoping to provoke the people behind those projects to abandon them.

[celedhring]

Wait, oil is $67 a barrel now? Holy shit. Wasn't it already at an all time low at $80-something a barrel few months ago, or was that a different kind?

Saudi Arabia has been turning on the tap trying to make shale oil and tar sand oil economically unviable, hoping to provoke the people behind those projects to abandon them.

I'm no expert, bit surely the saudis can't keep that indefinitely.  And the moment they turn off the tap, the  moment fracking becomes viable again and projects move forward.

[Barrister]

Wait, oil is $67 a barrel now? Holy shit. Wasn't it already at an all time low at $80-something a barrel few months ago, or was that a different kind?

Saudi Arabia has been turning on the tap trying to make shale oil and tar sand oil economically unviable, hoping to provoke the people behind those projects to abandon them.

I'm no expert, bit surely the saudis can't keep that indefinitely.  And the moment they turn off the tap, the  moment fracking becomes viable again and projects move forward.

Oil and gas projects can have a long lead time though.  If companies shutter production, or go out of business, it will take years for that production to get re-started.

[Martinus]

I read in the Economist recently that this is true for traditional, especially off shore drilling, but not for shale.

[celedhring]

Wait, oil is $67 a barrel now? Holy shit. Wasn't it already at an all time low at $80-something a barrel few months ago, or was that a different kind?

Saudi Arabia has been turning on the tap trying to make shale oil and tar sand oil economically unviable, hoping to provoke the people behind those projects to abandon them.

I'm no expert, bit surely the saudis can't keep that indefinitely.  And the moment they turn off the tap, the  moment fracking becomes viable again and projects move forward.

Oil and gas projects can have a long lead time though.  If companies shutter production, or go out of business, it will take years for that production to get re-started.

Well, then the current prices shouldn't matter much if it's understood that it's just a temporary, and artificial,  blip.