By Alan Caruba ~
If there is one thing various experts and pundits like to do most it is to worry about all manner of speculative threats. I can recall when much of their focus was on the Soviet Union until 1991 when it collapsed along with the decline in the cost of oil. The fall of the Berlin Wall in 1989 signaled that it was no longer the feared power it had been.
Despite its invasion of Ukraine to annex the Crimea, the Russian Republic is in the same position its predecessor was because, once again, the price of a barrel of oil is falling. Turns out that the fracking technology that many environmentalists fear has also produced large increases in both oil and natural gas here in the U.S., that have created an oil glut that is driving its price down.
Largely unnoticed, however, have been the growing…
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